Finance & Capital Management

As if having to deal with the rising threat of data breaches weren’t already enough for retailers, many continue to struggle to make sense of today’s rough patchwork of federal and state data breach laws.

Fortunately, while legislation that would establish a national data breach standard has yet to gain significant traction, the Obama Administration and Congress are ramping up joint efforts to establish a uniform, national law that would replace the current fabric of state requirements.  

Toronto -- Hudson's Bay Co. (HBC) swung to a profit in its first quarter, boosted by strong sales at Saks Inc., which it acquired last year. Hudson's Bay has announced plans to bring Saks to Canada, starting with two locations in Toronto in 2015.

San Jose, Calif. -- Hispanic supermarket chain Mi Pueblo Foods announced its formal emergence from Chapter 11 reorganization after having completed a necessary financial restructuring. The company also announced that Javier Ramirez has been named president and CEO. He will succeed Mi Pueblo founder Juvenal Chavez, who will be named chairman of the board.
 
Ramirez is a seasoned CEO in the Hispanic food and grocery sector.
   

SGK, formerly marketed as Schawk, a leading global brand development, activation and deployment company that drives brand performance, has appointed Andrew Flynn as SVP of brand strategy.

In this new role, Flynn will focus on identifying and developing strategic brand solutions for clients to help drive brand performance by leveraging the services offered by Brandimage and Anthem, part of SGK's brand development group, and Schawk, the company's brand deployment business.

Ascena Retail Group president and CEO David Jaffe said sales in the third quarter were challenging, and despite comparable sales declines at Justice and Dressbarn, new store growth at Justice and Maurices, along with higher comparable sales at Lane Bryant, Maurices and Catherines bolstered the company’s overall results.

The company’s third-quarter profit rose to $33.2 million, from $31.2 million in the year ago period. Revenue inched up 0.3% to $1.145 billion, compared to $1.142 billion a year earlier. Total same store sales rose 1%.

The J. M. Smucker Company has elevated John Denman to VP of human resource operations, effective July 16, and has also elevated Jill Penrose to VP of human resources, effective July 1.

Denman currently serves as VP, controller and chief accounting officer, and has been with the company for more than 30 years in various leadership positions in accounting and finance.

Suffern, N.Y. -- Ascena Retail Group Inc reported its fiscal third-quarter profit rose to $33.2 million, from $31.2 million in the year ago period.

Revenue inched up 0.3% to $1.145 billion, compared to $1.142 billion a year earlier, driven by new store growth at Justice and Maurices, along with higher comparable sales at Lane Bryant, Maurices and Catherines, mostly offset by comparable sales declines at Justice and Dressbarn.

Total same store sales rose 1%.