Consumer Affairs & Relations

New York -- Michael Kors Holdings Ltd. reported Tuesday that profit for the quarter ended Dec. 29 decreased to $636.8 million, compared with $373.6 million in the year-ago period.

However, the designer and retailer forecasted fiscal 2013 profit at more than double its year-earlier performance.   

Revenue surged 70% in the third quarter, fueled by strength in the accessories category, and the company predicts that fiscal 2013 sales will leap 62%.
 

Salt Lake City -- Overstock.com said Tuesday that chairman and CEO Patrick Byrne will take a leave of absence for medical reasons. Company president Jonathan Johnson will assume Byrne’s CEO duties during the leave, although Byrne will remain chairman of the board.

Byrne, in recent years, had undergone various procedures regarding cardiac issues that may stem from his earlier episodes of cancer, and his leave of absence is associated with these cardiac issues.

PARK CITY, Utah -- Skullcandy, a manufacturer of performance headphones, has named Rick Alden, the company's founder, former CEO and a current director, as Interim CEO. Jeremy Andrus has decided to step down from his positions as resident and CEO and a company director to join a private investment firm. He will serve as a consultant to the company over the next 12 months.

Chicago -- Claire's Stores announced Friday that Dina Keenan has been appointed global SVP and chief marketing officer, effectively immediately.

Keenan’s experience in marketing strategy, brand development, advertising and retail include stints at Bath & Body Works, Elizabeth Arden Red Door Salons & Spas, and Bozell Worldwide.

One of the initial focuses for Keenan will be to align her organization to support the global brand needs of Claire's and Icing, the company said.

PAWTUCKET, R.I. — Heading into the toy industry's largest trade show next week, toy manufacturer, Hasbro, reported net revenues of $1.28 billion for the fourth quarter of 2012, compared with $1.33 billion in 2011. The company reported net earnings for the quarter of $130.3 million or 99 cents per diluted share.

Net revenues for the full-year 2012 were $4.09 billion compared with $4.29 billion in 2011. 

Net earnings for the full-year 2012 were $336 million, or $2.55 per diluted share, versus $385.4 million, or $2.82 per diluted share, in 2011.

Underwriters Laboratories’ UL Environment division introduced an updated version of its EcoLogo to designate the sustainability of toys.

The EcoLogo is the first environmental toy standard developed with input from the Toy Industry Association (TIA), according to UL. It establishes a points-based model for the evaluation of performance, and recognizes manufacturers for sustainability leadership and innovation with the addition of a Platinum level certification for the highest achievement.

Mooresville, N.C. -- Lowe’s Cos. said Friday that Sylvain Prud'homme will join the company as president of Lowe's Canada, effective March 25.

Prud’homme replaces Alan D. Huggins, who is returning to the United States as Lowe's VP international operations.

Prud'homme comes to Lowe's from Loblaw Co., where he served in EVP roles in operations and merchandising.

Same store sale decelerated for The TJX Companies and Ross Stores during January even though both companies increased their full year profits forecasts.

TJX, operator of Marshalls and T.J. Maxx stores, said comps increased 3% during the period ended January 28. That figure was better than expected, but less than half the prior year gain of 7%. Sales for the five week period ended February 2 increased nearly 36% to $1.9 billion due to the inclusion of an additional week.