Strategy

New York –  Specialty retailer Cache Inc. has received an inquiry about a potential sale of the company to a third-party buyer. The Cache board will explore and evaluate strategic alternatives including a possible merger, sale or other form of business combination.    

An increase in selling, general & administrative (SG&A) expenses helped increase net loss at New York & Company Inc. to $9.7 million in the third quarter of fiscal 2014, up from $3.4 million a year earlier.

Net sales declined 3% to $210.6 million from $217.3 million, and same-store sales dropped 3.4%. New York & Co. cited soft performance in its wear-to-work category and the impact of product delays resulting from West Coast port labor issues as negatively impacting sales.

New York – An increase in selling, general & administrative (SG&A) expenses helped increase net loss at New York & Company Inc. to $9.7 million in the third quarter of fiscal 2014, up from $3.4 million a year earlier. Net sales declined 3% to $210.6 million from $217.3 million, and same-store sales dropped 3.4%.   New York & Company cited soft performance in its wear-to-work category and the impact of product delays resulting from West Coast port labor issues as negatively impacting sales. 

Walgreens named former Sam’s Club head merchant Linda Filler to the role of president of retail products and chief merchandising officer.

The hire is a positive development for Walgreens given Filler’s diverse background and accomplishments in a consumer packaged goods industry where many are more likely to recognize her by the maiden named Linda Hefner.

Hoffman Estates, Ill. – Sears Holdings Corp. reported a third quarter fiscal 2014 net loss of $548 million, up from the $534 million loss it reported in the year-ago period but smaller than its previously estimated. Cost-cutting measures helped Sears reduce its net loss growth. The discounter also revealed that  it plans to close a total of 235 underperforming stores in 2014, which is nearly double the projection of 130 it made in August.  Sears said eliminating those stores should boost EBITDA by $50 million.  

Deerfield, Ill. – Walgreen Co. has named Linda Filler as president of retail products and chief merchandising officer, effective Jan. 1. Filler will be responsible for the vision, leadership, strategic direction and performance of all Walgreens merchandising activities.   

New York - Deb Stores Holding LLC, owner of Deb Shops, has filed for Chapter 11 bankruptcy protection in Delaware, with plans to close  stores and sell inventory if it can’t find a buyer for the business.