According to Reuters, the U.S. consumer confidence index in April improved slightly to 57.9, compared to 52.3 in March. Many retailers, says Rothman Research, are revising their marketing strategy to attract as much traffic to their stores for the summer. Giant discounters such as Walmart Stores, Inc. and Target Corp. performed extremely well during the recession, and are now trying to attract even more people to these stores as the consumer confidence grows.
Target Corporation is outlining its growth opportunities for the next five to 10 years. Target plans to continue growth within existing stores by investing approximately $1 billion in the renovation of about 340 existing stores, expanding grocery content in general merchandise stores, and enhancing layout, assortment, and “in-store experience” in areas including beauty, home, electronics, and video games.
Rainbow Brite returns to the doll scene with a makeover. Master toy licensee Playmates Toys will introduce a new Rainbow Brite doll collection at Toys “R” Us and Target stores in spring 2010. The collection will include 10-inch dolls of Rainbow Brite and her two friends Moonglow and Tickled Pink, fashioned in their signature bright dresses, accessories, and boots. The collection also includes a 15-inch Rainbow Brite doll and the gang’s horse companions: Starlite, Shimmer, and Sunriser.
Target Corp., Toys “R” Us, Inc., and Kmart have agreed to pay $454,000 in penalties to settle a lead claim. The three retailers, along with other manufacturers, were sued in November 2007 after they sold or made toys with excessive amounts of lead, which violated federal toy safety standards.
According to the Los Angeles Times, Target will pay $210,000, Toys “R” Us will pay $175,000, and Kmart will pay $69,000.