Marketing

New York — Finest Café & Marketplace has leased a storefront at 46 Trinity Place, between Edgar and Rector Streets in New York City’s financial district.

 It will be the casual dining and take-out restaurant’s fifth Manhattan location. Faith Hope Consolo, chairman, Joseph A. Aquino, executive VP, and Arthur Maglio of Douglas Elliman’s Retail Group represented the landlord and tenant.

The Hain Celestial Group, a leading organic and natural products company, has appointed Stephen J. Smith as EVP and CFO, effective September 3. He replaces Ira J. Lamel, who announced his retirement as the company’s CFO Sept. 5, 2012 and which becomes effective at the end of the month.

San Francisco -- Gap Inc. said that Cisco Systems executive Padmasree Warrior will join its board of directors on Sept. 30. She will be the company's eleventh director.

Warrior is Cisco Systems Inc.'s chief technology officer and chief strategy officer.

ORRVILLE, Ohio — J. M. Smucker has completed its acquisition of Enray Inc., a leading manufacturer and marketer of premium organic, gluten-free ancient grain products, including sprouted and non-sprouted grains, pasta, and cookies, which are primarily sold under its flagship brand, truRoots.

Enray generated net sales of more than $45 million throughout its latest 12-month period. The transaction includes a leased manufacturing facility in Livermore, Calif., where Enray is headquartered. Details of the transaction were not disclosed.

Framingham, Mass. -- Staples said Wednesday that its second quarter net income dropped 15% amid store closings, declining traffic and lower sales of computers, ink and toner. The retailer also cut its full-year earnings and revenue forecasts, citing the weaker-than-expected results.

Staples earned $102.5 million for the period ended Aug. 3, compared to $120.4 million last year.

A 3% same store sales decline at Staples North American retail units contributed to weaker than expected second quarter results and prompted the company to reduce its full year financial forecast.

Total company sales for the quarter ended August 3, declined 2% to $5.3 billion with the closure of 103 stores in North America and Europe responsible for about half the decline. Profits for the period declined to $104 million, or 16 cents a share, two cents worse than analysts forecast, compared to $125 million, or 19 cents a share the prior year.

Minneapolis -- Target Corp. reported that its second quarter profit dropped 13% to $611 million in the quarter ended Aug. 3, down from $704 million a year earlier, amid start-up costs related to its entry into Canada. Total company profits, excluding start-up costs related to Canada, increased 6.1%. Similar to other retailers, the chain issued a muted annual profit forecast as it deals with a still uncertain economy and cautious consumers.

LOS ANGELES — Global lifestyle brand Guess? has appointed Michael Relich as the company’s chief operating officer. As part of the brand’s executive leadership team, Relich will report to co-founder and CEO Paul Marciano.

Relich spent nine years as the brand’s chief information officer. Relich has had increasing global responsibilities, leading a number of areas, including IT, distribution/logistics, e-commerce and strategic planning.