Marketing

Despite not having any stores in or near St. Louis, Academy Sports + Outdoors has inked a multi-year brand building deal with the Cardinals that is sure to have fans of the popular hometown baseball team scratching their heads.

Specialty retailer the Children’s Place has rejected an alternate slate of directors proposed by a firm agitating for change after it acquired roughly 2% of the retailer’s outstanding shares.

Sears Holdings will eventually need to sell more stuff to shoppers to remain viable as a retailer, but in the meantime the company has shown itself to be more adept at generating cash through complex real estate deals that unlock the value of an increasingly less productive store base.

Former Safeway and Supervalu executive Anne Dament has been named senior vice president of merchandising at Target to lead what the company is calling the strategic repositioning of its food business.

Best Buy President and Chief Executive Officer Hubert Joly has added the title of Chairman to his responsibilities at the retailer after long time board member Hatim Tyabji and several others decided to step down.

San Diego -- Petco announced it has named Michael M. Nuzzo as executive VP and CFO.  Before joining Petco, Nuzzo served as chief administrative officer of the baby gear brand, 4moms. Previously, he served as CFO and executive VP at GNC Holdings, and in various leadership roles at Abercrombie & Fitch.

New York -- Saks Fifth Avenue Off 5th will open its first store in Los Angeles County, in the Beverly Connection shopping center in Beverly Hills California.

The new two-level, 27,000-sq.ft. store will be fashioned in an open, modular layout.

“Saks Fifth Avenue Off 5th’s move to Beverly Hills is an exciting venture for us,” stated Jonathan Greller, president of outlets, HBC (Saks’ parent company).
 

Overland Park, Kan. -- A new chapter in the ongoing saga of RadioShack started on Friday with Sprint launching retail operations in 1,435 RadioShack stores.
 

San Jose, Calif. – EBay and PayPal are clarifying how they will operate the first five years after their planed split into two public companies in the second half of 2015. PayPal Holdings filed an updated Form 10 with the Securities and Exchange Commission (SEC) laying out an operating agreement that maintains ties between the two companies while also ensuring they remain independent.

San Diego – Net income at PriceSmart Inc. fell 12% to $24.83 million during the second quarter of fiscal 2015, from $28.28 million in the same period a year earlier. Increased operating expenses helped cut profit even as revenues grew 10% to $750.3 million, from $674.38 million.

PriceSmart also attributed the drop in net income to the devaluation of the Colombian peso.