Finance & Capital Management

Dallas -- Tuesday Morning Corp. said total sales for the third quarter ended March 31 increased 3.1% to $178.1 million, from $172.7 million in the year-ago period.

Same-store sales rose 2.8%, boosted by increases in average transaction value and customer traffic.
 
For the nine-month period ended March 31, revenue at stores open at least a year increased 3.7% and total sales rose 3.2% to $636.2 million, from $616.4 million.

The company plans to release its full third-quarter results on April 25.

New York -- Caribou Coffee will close some 80 stores nationwide and turn 88 other locations into Peet's over the next 12 to 18 months, the Chicago Tribune reported.

Caribou, which is based in Minneapolis, went private this year in a $340 million deal with German investment firm Joh. A. Benckiser Group (JAB), which also owns Peet’s.  

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

NAPERVILLE, Ill. & BOCA RATON, Fla. — OfficeMax and Office Depot have announced the committee members tasked with overseeing the process to select a CEO for the combined company and selection of the executives who will help to manage the integration planning process. 

DALLAS — Tuesday Morning Corp. said total sales for the third quarter ended March 31 increased 3.1% to $178.1 million, from $172.7 million in the year-ago period.

Same-store sales rose 2.8%, boosted by increases in average transaction value and customer traffic. 

For the nine-month period ended March 31, revenue at stores open at least a year increased 3.7% and total sales rose 3.2% to $636.2 million, from $616.4 million.

The company plans to release its full third-quarter results on April 25.

DALLAS — Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

New York -- Ron Johnson is out as CEO of J.C. Penney. In making the announcement, the company also said that that Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

Dallas -- 7-Eleven announced Monday it has closed on the acquisition of 46 Hickory Point and Palms Stores from CB Mart.

While the terms of this particular deal haven’t been made public, the acquisition boosts 7-Eleven’s Carolinas store count to more than 100 and puts the c-store operator solidly on track to continue its accelerated growth plan. 7-Eleven earlier acquired 55 Sam’s Mart and 13 Fast Track stores in the two-state area.