Marketing

Bentonville, Ark. -- Wal-Mart Stores Inc. said Friday it has created a new executive position to oversee new store formats in international markets.
 
Lev Khasis, who joined the company in 2011 after working in Russian retail, was named president and CEO of new formats for Wal-Mart International. He built up Russia’s largest food retailer X5 through acquisitions into a market leader before resigning to join Wal-Mart Stores.
 

Indianapolis -- Finish Line Inc. reported Friday a loss of $107,000 for the quarter ended Dec. 1, compared with a profit of $5.55 million in the year-ago period. The unexpected swing, said the company, was due in part to a lukewarm response to Finish Line’s new online store.
 
Sales in the quarter climbed 5.2% to $296.6 million, missing Wall Street’s expected $296 million in revenue, and same-store sales rose 3.6%.

Weaker than expected December sales at Target will cause fourth quarter profits to come in at the low end of an earlier forecast, the company said.

Sales at Target for the five week period ended December 31, increased 0.8% to $10.2 billion while same store sales were essentially flat, below the company’s guidance which called for an increase in the low single digits. The performance was driven by a low single digit decrease in comparable store transactions, offset by an increase in average transaction size.

HUNTINGTON BEACH, Calif. — Former Disney executive Andy Mooney has been appointed as president and CEO of Quiksilver. He succeeds Quiksilver’s co-founder Bob McKnight, who has been named executive chairman. Mooney will also join the board of directors.

The changes in leadership will become effective January 11.

AUSTIN, Minn. — Hormel Foods will acquire the iconic peanut butter brand Skippy from Unilever for approximately $700 million.

Hormel, known for its chili, ham and pork products, looks to balance its portfolio with the non-meat protein product. With peanut butter in a $2 billion category with a 74% household penetration, as well as the second most popular sandwich behind ham in the United States, Hormel will be in a good spot to grow its domestic and global brand presence.

CHICAGO — The Hillshire Brands has appointed former Kraft executive Brian Davison as SVP of corporate strategy and development.

Davison will be responsible for acquisition, merger and divestiture activities, strategic planning and implementing high impact projects. He joined the company on January 2, and will report to Sean Connolly, CEO.

More than 2,800 Walmart locations now feature Jackson Hewitt brand tax preparation services and the opportunity to drive big ticket sales once shoppers get their hands on refund checks.

BRISBANE, Calif. — Steve Birkhold was named CEO at Bebe on the same day that the company reported a worse than expected second quarter loss and a 10.5% comp decline.

Birkhold, who previously served as president and CEO at Lacoste, will be tasked with leading a turnaround at the struggling specialty retailer.

New York -- The battle between Macy’s Inc., J.C. Penney Co., and Martha Stewart Living Omnimedia Inc. will go to trial Feb. 19, Bloomberg reported.

A New York State judge on Thursday said he case will not be tried before a jury and there will be no need to decide damages.
 
Instead, any potential damages in the dispute “are going to pale in comparison to the injunction,” the judge said. “That’s the real big bucks there -- if I stop this deal.”

Dallas -- 7-Eleven announced Thursday that it has acquired 143 Speedy Stop and Tigermarket retail locations from C. L. Thomas, of Victoria, Texas.

The acquisition, which closed Dec. 31, increases 7-Eleven stores' footprint in San Antonio, where recently the country's largest convenience retailer purchased 25 stores as part of its acquisition from TETCO. It also adds to 7-Eleven's growing fuel wholesale-delivery business because the acquisition includes gasoline distribution to approximately 150 dealer-operated sites.