Marketing

There is some debate as to whether paying dividends or buying back stock is a more desirable method of returning cash to shareholders. Those in the dividend camp would prefer to have the cash in their pocket, whereas share repurchase advocates argue that retiring shares through buyback activity improves profits as net income is spread over a smaller number of outstanding shares.

New York City -- Spencer Gifts, a mainstay of malls across North America, has leased its first-ever location in Manhattan. The 60-year-old chain operates more than 600 stores in the United States, Canada and Puerto Rico.

As one of Spencer’s few free-standing locations, the store, located downtown near New York University, encompasses over 1,840 sq. ft. on the ground floor. It is due  to open in advance of the holiday season.

Canton, Mass. -- Casual Male Retail Group continues to roll out its DestinationXL format, with the opening of its eighth store, in Fairless Hills, Pa.

DXL is an all-inclusive destination that encompasses Casual Male’s four existing apparel businesses, Casual Male XL, Rochester Big & Tall, Shoes XL and B&T Direct.

The company plans to open up to 13 DXL stores during the balance of 2011, another 20-30 stores during 2012 and approximately 100 stores over a four to five year period.

Birmingham, Ala. -- Hibbett Sports said its second-quarter earnings rose 48%, boosted by growing same-store sales. The company also raised its fiscal 2012 earnings guidance.

The chain earned $5.9 million in the three months that ended July 30, up from $4 million in the same quarter last year. Revenue climbed more than 9% to $153.1 million.

The performance topped Wall Street expectations.

Same-store sales rose  6%.

SHELTON, Conn. — Tomra of North America Inc., a wholly owned subsidiary of Tomra Systems ASA and leading global provider of advanced recycling solutions, today announced the appointment of Harald Henriksen as the new president and CEO of Tomra of North America. Henriksen, who joined Tomra ASA in 2004, previously served as SVP technology based in Norway.

New York City -- CVS Caremark announced that Mark Cosby has been appointed president of CVS/pharmacy, effective Oct. 1. He formerly served as president of stores for Macy’s.

“We’re delighted that Mark is joining our team,” Larry Merlo, CEO of CVS Caremark (NYSE: CVS) said in a news release. “His valuable experience at major retailers in operations and strategic planning makes him an excellent choice to lead our retail business going forward.”

Cary, N.C. -- The Pantry said Monday that CEO Terrance M. Marks plans to resign within two months.

In a statement, Marks said that his decision was driven by personal reasons, and that he had accepted "an opportunity that will enable me to return to my home and family in Atlanta."