Target buys 10 acres for 200-employee store
Target has bought 10 acres in Alameda, where the retailer will construct a new store that will be the anchor of a shopping center called Alameda Landing.
Located near the corner of Willie Stargell Avenue and Fifth Street, a short distance from College of Alameda and Mariner Square Athletic Club, the new Target will total 140,000 square feet, according to brokers from Terranomics, which arranged the deal.
The new Target store should open in the fall 2013. The retailer intends to employ about 200 people at the store.
Clorox profit and sales rise after price hikes
Oakland-based Clorox enjoyed rising sales and profit for its first quarter, bolstered by price increases for a number of its brands, the company reported Wednesday.
The maker of household products company earned $133 million on revenues of $1.34 billion for the July-September quarter. Compared with the year-ago first quarter, profit rose 2.3 percent and sales rose 2.5 percent.
"We're off to a good start in the fiscal year," Clorox CEO Don Knauss said. "We delivered sales growth in both our U.S. and international businesses."
Clorox reaffirmed its estimates for fiscal 2013, which will end next September. Sales should range from a 2 percent to 4 percent gain, and full-year profit should range from $4.20 to $4.35 per share, Clorox projected.
The earnings results beat Wall Street's expectations. Analysts had estimated that Clorox would earn 95 cents a share, and the company earned $1.01 a share.
Bio-Rad buys system to help sort cells
Hercules-based Bio-Rad Laboratories has bought a new system to sort cells from Propel Labs.
The system will allow researchers to conduct cell sorting in their laboratories.
Bio-Rad said researchers will be able to more easily target specific cells in their experiments and ultimately increase the sensitivity of their tests,
Shipments of the new system should begin in January. Financial terms weren't disclosed.