Finance & Capital Management

HOFFMAN ESTATES, Ill. — Sears Holdings saw revenues decrease to $8.9 billion for the quarter ended August 3, from $9.5 billion for the year-ago quarter. Fewer Kmart and Sears full-line stores accounted for approximately $210 million of that decline. 

New York — Noble Roman’s, the franchisor of Nobel Roman’s Pizza and Tuscano’s Italian Style Subs, has announced signed agreements for eight more stand-alone locations, brining the total of signed locations to 29.

To date, eight locations are open and 21 are under development.

Houston -- Stage Stores Inc.'s second-quarter net income dropped 18% and the department store operator lowered its expectations for the year.

The retailer earned $9.6 million in the quarter that ended Aug. 3, compared to $11.7 million last year.

Revenue rose more than 3% to $395.3 million, missing Wall Street expectations.

ROCKFORD, Mich. — Wolverine Worldwide has appointed Gene McCarthy as president of the Merrell brand. 

"Gene McCarthy is a visionary leader with a passion for brands and consumers," said Blake W. Krueger, chairman, CEO, and president of Wolverine Worldwide. "Merrell has been and continues to be a leader in the outdoor space and a jewel within the Wolverine portfolio — I am thrilled to have Gene join the Merrell team as it continues its drive to be the first billion-dollar-brand in our Company's history."

Hudson, Ohio -- Jo-Ann Fabric and Craft Stores named Tom Williams as senior VP of store operations and human resources. He replaces Ken Haverkost, who is retiring effective Aug.31.

In addition to retaining his current responsibilities overseeing all corporate human resources functions for Jo-Ann, Williams will assume responsibility for leading the store operations organization, covering more than 18,000 employees and more than 800 stores. He will continue to serve as chairman of the company’s benefits advisory committee

ZAANDAM, Netherlands — Dutch supermarket-operating company Ahold has appointed Abbe Luersman as the company’s chief human resources officer.

Ahold said that Luersman, who will report to CEO Dick Boer, will assume the new position on Nov. 1. Ahold's U.S. division operates the Stop & Shop, Giant Food Stores of Carlisle, Pa., and Giant Food of Landover, Md., supermarket banners, as well as the Peapod online grocery service.

Grapevine, Texas -- GameStop’s net income for the second quarter fell to $10.5 million in the year-ago period, but its performance was better than analysts expected. The chain issued a higher-than-expected full-year forecast saying that it expects next-generation gaming consoles to fuel consumer demand.

Total revenue was down 10.7% to $1.38 billion in the quarter ended July 31. Same-store sales dropped 10.7%

Hoffman Estates, Ill. -- Sears Holdings’ second-quarter loss widened as the company was challenged with store closings, weak sales and deep discounts. Its performance was also impacted by the lingering effects from its spinoff of its Hometown and Outlet Stores banner.

For the period ended Aug. 3, Sears lost $194 million, compared with a loss of $132 million in the year-ago period.

Revenue dropped 6% to $8.87 billion, from $9.47 billion. Same-store sales fell 1.5%, with a 2.1% drop at Kmart and a 0.8% drop at Sears.