Finance & Capital Management

Rockford, Mich. -- Wolverine Worldwide said Tuesday it will make several organizational moves to drive future growth and global brand building in the wake of its October 2012 acquisition of the Performance & Lifestyle Group.

Philadelphia -- Destination Maternity Corp. reported Tuesday that revenue for the first quarter edged down to $135.3 million, from $136.4 million in the year-ago period. The results fell within internal expectations of $132.5 million to $136.5 million.

Same-store sales rose 1.9%.

The maternity apparel retailer said the decline in total revenue was due in large part to sales declines related to closing underperforming stores.

Dallas -- Tuesday Morning Corp. reported Tuesday that sales for the quarter ended Dec. 31 rose 4.5% to $285.3 million, compared with $273.1 million in the year-ago quarter.

Same-store sales increased 5.6%.

Tuesday Morning also reported that beginning with this second quarter sales report it will no longer provide net income estimates with sales figures, but will instead consolidate that information in its earnings reports.

Austin, Texas -- Whole Foods Market announced Tuesday the hiring of Jason J. Buechel as global VP and chief information officer, effective immediately.

Buechel will report to co-CEO Walter Robb and CFO Glenda Flanagan.
 
Buechel previously was a senior executive and managing director, retail operations, for Accenture.
 

New York -- In a surprise move, Sears Holdings Corp. announced that CEO Louis J. D'Ambrosio will step down as CEO, effective Feb. 2, for family health reasons. D'Ambrosio will be replaced by the company's chairman and its largest shareholder, Edward Lampert.

By Ann Natunewicz, national manager, Retail Research, USA Retail Services Group

The outlet shopping experience has morphed from warehouse settings offering damaged and closeout merchandise to today’s centers that are designed to maximize customer flow and sell merchandise from the most exclusive international designers.

WALNUT CREEK, Calif. — Central Garden & Pet Company has named John R. Ranelli as its new president and CEO, effective February 11.

Central Garden & Pet is a leading supplier of branded products for the lawn and garden and pet supplies markets. Ranelli has been a member of its board and a member of the board’s audit committee since 2010. He will remain on Central’s board and current chairman and CEO Bill Brown will remain chairman.

Andrea Freeman has joined lease-to-own retailer Aaron’s as VP of marketing.

NEW YORK — The breakup of Supervalu to private equity firm Cerberus Capital Management could be announced as soon as Thursday when Supervalu shares third-quarter results with analysts, according to a report in the Wall Street Journal published Friday.

Bloomberg also reported that a deal between Cerberus and Supervalu was imminent. According to that Bloomberg report, Cerberus would lead an investment of around $500 million in equity.

Walter Killough will step down as CEO of the 109 unit Delia’s retail chain on April 1.

The retail said it and Killough reached a mutual agreement not to renew his employment agreement which was scheduled to expire on August 2. Plans now call for Killough to leave the company on April 1, however he may stay on longer if a replacement has not been named.