Pier 1 Imports Posts Quarterly Loss
New York City (June 19, 2008) Pier 1 Imports on Thursday posted a worse-than-expected quarterly loss, hurt by weaker traffic in March and April, according to the Associated Press.

The retailer, which has been trying to turn around its business with store closures, job cuts and reduced marketing spending, expects "modest net income" before charges for the full year, the report said.

Sears Targets Teens With MTV Film, LL Cool J gear
Chicago (June 19, 2008) Sears is teaming up with MTV to produce a back-to-school movie, while adding a line of street clothes and accessories designed by hip-hop artist LL Cool J. The strategy is aimed at tapping a new market for the retailer: the young, hip and urban, according to the Associated Press.

"While mom may decide what the acceptable place is to shop, the kids are deciding what clothes they want and what places have it," said Richard Gerstein, Sears' chief marketing officer. "If we come out of our season with much more relevance with this group, and improving our sales and profitability with this group, we think it's a big win."

Report: EBay to Strengthen PayPal's Anti-Fraud Provisions
San Jose, Calif. (June 19, 2008) EBay Inc. hopes to attract more online traders by expanding the protections available to people who use its PayPal payment service for transactions on eBay's Internet marketplaces, according to the Associated Press.

EBay executives said Thursday at the company's annual user conference that buyers who pay for items with PayPal will be eligible for full refunds, with no cap, if a seller fails to deliver an item as promised. Previously, a buyer's coverage was capped at $200, or $2,000 if the item's seller enjoyed a particularly good reputation on eBay, the report said.

Genesco President Adds CEO Role
Nashville, Tenn. (June 19, 2008) Genesco Inc. said Thursday president Robert J. Dennis will take on the additional role of CEO, effective Aug. 1. Current CEO and Chairman Hal N. Pennington will continue to serve as executive chairman, the company said.

The company said the change is part of the company's internal succession plan that began when Dennis was appointed COO in 2005.

Sweetbay Names CEO
Tampa, Fla. (June 19, 2008) Sweetbay Supermarket named company Michael T. Vail has been named president and COO of the chain, according to the Tampa Bay Business Journal. Vail replaces Shelley Broader, the company's former president and CEO, who left the Sweetbay earlier this month to take a leadership role at the arts and crafts chain Michaels.

Vail previously served as VP of merchandising for Kash n' Karry. There, he provided leadership for the evolution to Hannaford supply chain systems. He later assumed responsibilities of senior VP of retail operations.

Kroger CEO: Discrimination Suit Settled
Columbus, Ohio (June 19, 2008) Kroger Co. has agreed to pay $16 million to settle a race-discrimination lawsuit brought by 12 current and former employees, according to a memo from the chain's chairman and CEO David Dillon.

The workers claimed in the 2001 federal lawsuit that Kroger blocked promotions of black employees and paid them less than white employees, according to the Associated Press.

May Sales in Britain Show Biggest Monthly Gain in 22 Years
London (June 19, 2008) Retail sales surprisingly soared in Britain during May, revealing the biggest monthly gain in 22 years. Consumers shrugging off the credit crunch to spend more on clothing and food are credited for the gain, according to global news service Agence France-Presse.

The report indicated that economists were surprised by the data because it painted a rosy picture of the British retail sector, despite high inflation, a faltering housing market, slower economic growth and the ongoing impact of the global credit squeeze.

Circuit City 1Q Loss Widens
Richmond, Va. (June 19, 2008) Circuit City Stores Inc. said Thursday its loss widened in the first quarter because of a more than 11% drop in sales at established stores.

The company reported a loss of $164.8 million in the three months ended May 31, compared with a loss of $54.6 million a year ago. The company said revenue fell 7% to $2.30 billion from $2.49 billion. Same-store sales dropped 11.3%

Report: Staples Wins EU Okay for Corporate Express Takeover
Amsterdam (June 18, 2008) Staples has won approval from the European Commission for its 1.7 billion euro ($2.6 billion) takeover bid for Dutch peer Corporate Express, according to a Reuters report.

Staples raised its all-cash offer to 9.25 euros per share from 9.15 euros last week, winning the backing of Corporate Express, which also ditched its own deal to buy a privately owned French competitor, Lyreco, the report said. 

Amazon.com to Open New Fulfillment Center
Seattle (June 18, 2008) Amazon.com Inc. said Wednesday it plans to open a new order-fulfillment center in Goodyear, Ariz., during the third quarter to help meet growing customer demand, according to the Associated Press.

The center will create more than 600 full-time jobs and 700 temporary positions during the holidays this year, the report said.

President, CEO Leaves FreshDirect
New York City (June 18, 2008) FreshDirect CEO and president Steve Michaelson has left the company. Previous to his post at FreshDirect, Michaelson served as senior VP of marketing and merchandising at Weis supermarkets. He has also served as the marketing VP at Wegman's.

A spokeswoman at FreshDirect told Chain Store Age that an interim president and CEO has not been named.

Kmart Marketing Officer to Depart Sears
Hoffman Estates, Ill. (June 18, 2008) Bill Stewart, a senior VP and chief marketing officer of Kmart, is leaving parent Sears Holdings Corp. to work on a campaign to protect gay marriage in California, according to the Chicago Tribune.

Stewart joined the company in April 2006. He was previously VP of marketing for the Levi's Dockers casual-clothing brand for five years. Stewart said he plans to be a full-time volunteer for Equality for All, a group waging a campaign to defeat a measure appearing on ballots in November to ban gay marriage in California.

OfficeMax to Cut 2,700 Management Jobs
Naperville, Ill. (June 18, 2008) OfficeMax Inc. said that it plans to eliminate 2, 700 positions in an effort to streamline operations, according to the Chicago Tribune.

The company will be cutting half of its assistant managers and two-thirds of its store supervisors.

Wal-Mart Lowers Capital-Spending Forecast
Bentonville, Ark. (June 17, 2008) Wal-Mart Stores Inc. is reducing its capital-spending forecast for fiscal 2009, as it slows construction of supercenters amid a weakening U.S economic environment.

The retailer said Tuesday it expects to spend $13 billion to $14 billion during the fiscal year ending Jan. 31, 2009. Last October, the company said it expected to spend $13.5 billion to $15.2 billion. 

German Retailer Lidl Planning U.S. Debut
New York City (June 17, 2008) Lidl, a German deep-discount food retailer comparable to Aldi but a little more upscale and brand-oriented, is making plans to enter the United States.

According to Schwarz Group CEO, Klaus Gehrig, the company plans to enter the U.S. market with its Lidl banner by 2012 at the latest. Gehrig also confirmed that the next foreign market Lidl wants to enter is Switzerland. 

Survey: Father's Day Gives Boost to Weekly Sales
Chicago (June 17, 2008) ShopperTrak RCT Corp.'s National Retail Sales Estimate Tuesday reported that retail sales for the week ending June 14 increased a healthy 6.1% compared to the same period last year as consumers took advantage of Father's Day sales promotions to purchase gifts and seasonal summer merchandise.

Sales for the week ending June 14 vs. the previous week ending June 7 rose 7.2%.

NRF Survey Finds Independence Day Celebrations Will Feel Impact of Gas Prices
New York City (June 17, 2008) With the official beginning of summer just a few days away, consumers are beginning to think twice about their July 4th plans. According to the National Retail Federation's 2008 Independence Day Consumer Intentions and Actions survey, conducted by BIGresearch, 59.4% of consumers say increased gas prices will impact their spending for the holiday, up from 42.1% of consumers last year.

Additionally, almost 200 million Americans (87.8%) feel the price of gas will cost more by the Fourth of July than it does now. On average, consumers expect that the average price of gas nationwide will be $4.39 per gallon on July 4.

Jones Lang LaSalle and The Staubach Co. Reach Merger Agreement
Chicago (June 17, 2008) Jones Lang LaSalle said Monday that it has agreed to pay $613 million to acquire closely held Staubach Co., the Texas-based real estate services firm founded by former Dallas Cowboys quarterback Roger Staubach.

"The Staubach Co. is recognized for exceptional tenant representation expertise and is a leading presence in markets throughout the United States. We are delighted that they have decided to join our company. Merging our businesses reinforces two of our global-growth priorities, building our position in key U.S. local markets and strengthening our corporate-services business by introducing Staubach clients to our global Corporate Solutions capabilities," said Colin Dyer, CEO, Jones Lang LaSalle.

Casual Male Buys Seven Big and Tall Locations
Canton, Mass. (June 17, 2008) Casual Male Retail Group on Tuesday said it bought seven Big and Tall men's stores in five states from privately held Dahle Management Corp.

Terms of the transaction were not disclosed. Jeff Unger, VP of investor relations for Casual Male, said the deal has already closed.

Golfsmith Appoints CEO
Austin, Texas (June 17, 2008) Golfsmith International Holdings Tuesday announced the appointment of Martin Hanaka as CEO.  Hanaka had been serving as interim chief executive since Jan. 9, 2008, and has been chairman of the board since April 2007.

Hanaka became the chairman of Golfsmith in April 2007. He was the chairman of the board of The Sports Authority, Inc. from November 1999 until June 2004, and was its CEO from September 1998 until August 2003.

Tween Brands President and COO to Resign
New Albany, Ohio (June 17, 2008) Tween Brands Inc., which sells apparel for girls under the Limited Too and Justice brand names, said Monday that its secretary, president and COO Kenneth T. Stevens will resign effective June 27.The company will not fill the president and COO position after he leaves. Also, he is resigning from his position on the board or directors.

"In a series of discussions, I suggested to (chairman and CEO Mike Rayden) and he concurred, that the business was not evolving in a manner that required a COO at this time," Stevens said in a statement.

Best Buy 1Q Profit Falls, but Beats Expectations
Minneapolis (June 17, 2008) Best Buy says its profit fell 7% in its first quarter but it still beat Wall Street's expectations because of a lower share count and a rise in revenue.

The retailer said Tuesday it earned $179 million, down from $192 million a year ago. 

Report: eBay to Welcome Outside Software Applications
Frankfurt, Germany (June 16, 2008) eBay Inc. on Monday unveiled plans to let outside software programs work inside the e-commerce site, according to a Reuters report.

At eBay's annual conference for software developers in Chicago, eBay is laying out Project Echo, a plan to give independent developers a path to having their software featured within eBay's core site.

Study: Consumers Loyal to Costco
New York City (June 16, 2008) U.S. consumers are most loyal to Costco in the grocery, personal care and mass-merchandise categories, according to Colloquy, a marketing research and consulting firm.

According to Colloquy's new Retail Loyalty Index, across five geographical regions, Northeast, Southeast, Midwest, Southwest and Northwest, Costco was the national winner in the grocery category. The warehouse club was the first choice of consumers in two regions, the Southwest and Southeast. Publix was a close runner up and H-E-B followed.

Shoppers Charge Accounts to Change Name
Mahwah, N.J. (June 16, 2008) Shoppers Charge Accounts, a provider of private-label credit programs and a division of TD Banknorth, announced that it is changing its name to TD Retail Card Services.

As part of its re-branding effort, TD Retail Card Services said it has also enhanced its product offerings and services, technologies and marketing initiatives.

Report: Wal-Mart Goes 'Premium' for Marketside
Bentonville, Ark. (June 16, 2008) Wal-Mart's new Marketside grocery stores will be focused around a "premium" rather than low-cost offering, according to a Financial Times report. The stores will be the first new banner launched by Wal-Mart in a decade.

Job advertisements for the new Wal-Mart business said the stores will deliver "unique solutions for time-starved consumers in a premium fresh/convenience oriented format," according to the report.

A.C. Moore Finance Head to Leave
Berlin, N.J. (June 16, 2008) A.C. Moore Arts & Crafts Inc. said Monday its CFO, Marc Katz, is resigning, effective June 27.

The company said Katz is leaving to pursue a career opportunity in the private-equity sector. 

Cost Plus Rejects Pier 1 Takeover Proposal
Oakland, Calif. (June 16, 2008) Cost Plus said Monday its board of directors unanimously rejected an $88 million takeover bid from larger Pier 1 Imports Inc., according to the Associated Press.

Pier 1 offered to buy the company earlier this month in a stock-swap transaction. In the proposal, Pier 1 said it would issue 0.6 shares of its common stock for each share of Cost Plus common stock, implying a value of $4 per share.

Former Home Depot Worker Charged in Kickback Case
Atlanta (June 13, 2008) A second former Home Depot employee has been charged with participating in a conspiracy to defraud the company by taking kickbacks from foreign suppliers seeking to do business with the world's largest home-improvement store chain, according to the Associated Press.

James P. Robinson of Atlanta is charged with two counts of income-tax evasion and one count of conspiracy to commit wire fraud, the report said.

Pathmark Opens Second Price-Impact Format
Edison, N.J. (June 13, 2008) Pathmark is re-opening one of its stores in Edison, N.J., under a new format that focuses on low prices, according to the Star Ledger.

The price-impact format is similar to a strategy Pathmark followed about 30 years ago, the report said. This includes lower prices on many items with weekly sales. 

Report: Albertson's Sale to Affect More Than 5,000 Employees
Boise, Idaho (June 13, 2008) Albertson's pending sale of 49 Florida stores to Publix will affect 5,131 employees, according to the Orlando Business Journal.

The company notified the state for that 5,131 employees statewide would be laid off between Sept. 7 and Sept. 20, the report said.

Exxon to Exit U.S. Retail Gas Business
New York City (June 13, 2008) Exxon Mobil Corp. said on Thursday it is getting out of the retail gas business in the United States as high crude oil prices squeeze margins, according to a Reuters report.

Those branded service stations may be the most public aspect of Exxon's business, but they account for a small part of the company's profits, the report said.

Investor: Borders Should Consider Amazon.com Deal
New York City (June 13, 2008) William Ackerman, the billionaire hedge fund manager who is a major stakeholder in Borders Group Inc., said the bookseller should consider approaching Amazon.com Inc. about a possible acquisition, according to the Associated Press.

The founder of Pershing Square Capital Management said Borders, of which the hedge fund owns about 30%, could become the "bricks-and-clicks" component of Amazon's nationwide sales strategy. Borders, which put itself up for sale in March, has about 500 retail outlets across the country.

Report: Office Depot Looks to Narrow Work Force
Delray Beach, Fla. (June 13, 2008) Office Depot said it is trying to reduce its 2,000-employee work force at its Delray Beach headquarters through a voluntary separation program, according to the South Florida Business Journal.

Brian Levine, a spokesman for Office Depot, said severance is being offered to salaried and hourly employees at the company's headquarters. He said Office Depot does not have a specific number of jobs targeted for elimination.

Restoration Hardware Shareholders Approve Buyout
Corte Madera, Calif. (June 13, 2008) Restoration Hardware Inc. said its shareholders approved selling the company to the private-equity group Catterton Partners for about $179 million.

The company said Thursday that more than 99% of the votes cast at the meeting were in favor of the deal.