Finance & Capital Management

LAS VEGAS — SMTP, Inc., a global provider of email delivery services, has appointed Jon Strimling as CEO of the company.

"Jon is a proven executive and entrepreneur, with a track record of driving revenue and earnings growth," stated Semyon Dukach, chairman of SMTP. "His deep experience in operations, marketing and e-commerce will prove invaluable as he leads SMTP through its next phase of growth."

By Stephen Springham, senior retail analyst Planet Retail
 
After the horror show of Q1, Walmart had so much to prove domestically in Q2. And it has again come up short. A U.S. comp store decline of 0.3% was below earlier management of a 0.2% decline, guidance that was endorsed as recently as the Annual Shareholder Meeting in June. This marks the second quarter that U.S. comps have been both in negative territory and below guidance. Those accusing Walmart of ‘crying wolf’ in its bullishness (ourselves included) may feel vindicated.

As discount retailers such as TJ Maxx and Saks Off Fifth get comfortable in e-commerce territory, closeout retailer Tuesday Morning is bowing out of the digital space, according to reports.

HERSHEY, Pa. — The Hershey Company has appointed Mary Kay Haben to its board of directors. 

“Mary Kay is a seasoned leader who brings a great wealth of relevant food and confectionery experience to her role as a member of the Hershey board,” said James Nevels, chairman of the board of directors. “She is an accomplished executive with extensive experience managing businesses in the consumer packaged goods industry and has an impressive track record in growing brands and developing new products.”

LOS ANGELES — Sporting goods retailer Sport Chalet swung to a loss in the first quarter, as it continues turnaround efforts that include a new store concept, closing under-performing stores and reducing staff. 

The company generated a loss of $2.8 million for the quarter, compared with a profit of $100,000 in the year-ago period. Sales dipped 2.8% to $81.5 million from $83.8 million, and same-store sales dropped 0.7%.

Los Angeles -- Sporting goods retailer Sport Chalet generated a loss of $2.8 million in the first quarter, compared with a profit of $100,000 in the year-ago period.

Sales slipped 2.8% to $81.5 million from $83.8 million, and same-store sales fell 0.7%.

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.