Finance & Capital Management

New York – XO Group Inc., parent company of wedding/baby-themed e-commerce brands such as The Knot, The Bump and ijie.com, has named Michael Steib president, effective July 1. Steib most recently served as CEO of Vente-Privee USA, an e-commerce venture backed by American Express, and also held digital executive positions at companies including Google and NBC Universal.

Broomfield, Colo. – Famous Brands International, parent company of TCBY Yogurt and Mrs. Fields Cookies, has appointed Neal Courtney as CEO. Neal had been serving as the company's interim CEO since February and served as COO since May 2012.

For the second time in the past six years, 99 Cents Only said it was unable to file its annual report within the timeframe specified by the Securities and Exchange Commission.

The company’s annual report on form 10-K for its fiscal year ended March 30 was due at the SEC no later than June 28. However, because of a range of inventory valuation issues identified by auditors and a new CFO, the company said it was unable to file the report without unreasonable effort or expense. The company did not indicate when it planned to file the report other than as soon as practicable.

Famous Brands International, parent company of TCBY Yogurt and Mrs. Fields Cookies, has appointed interim CEO Neal Courtney as the company’s CEO. Neal had been serving as interim head since February, when then-CEO Tim Casey resigned his post.

Davenport, Iowa - Von Maur announceed that its newest store, located at the Iowa River Landing in Coralville, Iowa, will open on July 27, 2013.

The 80,000-sq.-ft., free-standing brick store will feature Von Maur's signature exterior entrance and residential ambiance, along with an expansive open floor plan and larger departments that are designed to allow for greater product selection and more easily navigable aisles and common areas.

Chicago - Belk, the nation's largest family owned and operated department store company, was honored as Innovator of the Year at the 2013 Oracle Retail Excellence Awards. The award recipients were announced at Oracle’s annual Oracle Retail CrossTalk customer event, held June 25 to 27 in Chicago.

Other Oracle award winners included the British department store company John Lewis plc for Outstanding Customer Experience, and Deckers Outdoor, the footwear company,  for Outstanding Business Performance.

Hicksville, N.Y. - The battle between the board of Men’s Wearhouse and its founder and former chairman, George Zimmer, continues to have a significant negative impact on the company’s online image.  According to a report by GenSent Insights, the company’s sentiment score, a measure of the tone surrounding a brand on a scale of -100 to +100, plummeted from an average of + 68 in mid-June to a low of -52.  The sentiment on Twitter alone fell from an uncommonly high score of +93 to a low of -80. 

Atlanta - Spanx, the fast-growing dollar undergarment and apparel company, will open a custom designed, expanded company headquarters and a flagship store in Buckhead Atlanta, a major mixed-use project in the heart of the area’s business district. (The project, now under construction, was initially called Streets of Buckhead.)

The headquarters will occupy three floors, a rooftop garden terrace and additional balconies. Spanx is anticipated to move in November 2014.

Indianapolis - The Finish Line's first-quarter net income plunged 59% amid start-up costs related to its deal to open branded in-store shops in Macy’s. But the retailer still beat Wall Street expectations. In other news, the company announced a new role for retiring president and COO, Steve Schneider.

The Finish Line earned $5.1 million for the period ended June 1, down from $12.3 million a year ago. Revenue rose 10% to $351.1 million, also beating expectations. Same-store sales were up 2.4%. 

SOLON, Ohio — Nestlé plans on investing $53 million in a new product technology center, which will expand the company's existing R&D facility in Solon, Ohio.