Finance & Capital Management

Albany, N.Y. -- Trans World Entertainment Corp. said Tuesday it has named John Anderson acting CFO, effective immediately.

Anderson has served in positions of increasing responsibility at Trans World for over 18 years, most recently serving as controller since September 2006.  He replaces Tom Seaver, who will be leaving the company to pursue other opportunities after a short transition period.
 

San Diego – Warehouse club operator PriceSmart Inc. reported Tuesday that net income for the third quarter slipped 4% to $15.7 million, compared with $16.3 m million last year.

Revenue rose 18% to $506.8 million from $431.1 million, missing Wall Street’s forecasted $508.2 million. Same-store sales increased 12.9%.
 

ROCKFORD, Mich. — Wolverine Worldwide reported slight revenue growth as it looks to build its portfolio with the acquisition of the Performance and Lifestyle Group from Collective Brands.

Wolverine Worldwide reported quarterly revenue of $312.7 million, an increase of 0.8% compared with the prior year's second quarter when revenue grew over 20%. 

Reported diluted earnings per share in the quarter were 42 cents, compared with prior year's earnings per share of 48 cents.

By Dan Olson, [email protected]

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to increase 1.6% in July compared with the same month last year, and modest year-over-year increases are expected through the holiday season shipping cycle, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.

Boston -- A report released Tuesday by CB Richard Ellis found that, despite concerns about the pace of economic recovery and lukewarm employment growth, the U.S. commercial real estate market showed improvement across all property sectors in the second quarter of 2012.

Retail properties, which have generally lagged other property sectors during the recovery, saw a slight improvement in availability, which fell to 13% during the second quarter.

Mexico City – Walmex, Mexico’s largest retailer, reported Monday that same-store sales for the month of June rose 5.3%. Total sales in June jumped 15%.

The retailer opened 26 stores and restaurants in June, after announcing it was reducing planned store openings to between 325 and 335 this year from a previously announced 410 to 436 stores.
 

PLANO, Texas — JCPenney is cutting approximately 350 positions at its headquarters as part of its plan to restructure the company.