Strategy

Soft traffic and promotional activity have continued to put Guess’ North American stores under pressure, but the retailer said it is encouraged by its North American online business, which soared 50% in the second quarter.

The company reported net earnings of $22 million, a 50.5% decrease compared to adjusted net earnings of $44.3 million for the year ago period, which prompted the retailer to cut its fiscal year outlook.

Sales for the quarter decreased 4.8% to $608.6 million, from $639 million a year ago. Same-store sales decreased 5.4%.

Tewksbury, Mass. – In what should mark the end of a six-week standoff that began July 18, Arthur T. Demoulas, who was fired by his cousin Arthur S. Demoulas as CEO of the Market Basket supermarket chain in June, has agreed to buy the company for $1.5 billion. Since Friday, July 18, many Market Basket employees and customers have staged a boycott, dramatically slowing down business at the company’s 71 stores in Massachusetts, New Hampshire and Maine.

Walmart’s senior director for payment strategy Reed Luhtanen is among a group of notable speakers scheduled to gather in Washington, D.C. September 10 to explore vulnerabilities and challenges faced by merchants and payment industry professionals.

Chicago -- JLL has bolstered its tenant representation practice with the addition of Jason Press as VP in the firm’s Chicago office, working on the team lead by executive VP Lew Kornberg.

Press joins JLL with more than 15 years of real estate experience facilitating hundreds of transactions valued in excess of $500 million. Prior to JLL, he co-founded North Park Properties to acquire investment properties in the Chicagoland area.

China is known for some of the worst air pollution in the world and to help improve the situation Walmart has launched a new initiative focused on helping suppliers reduced greenhouse gas emissions.

San Antonio, Texas - Tryperion Partners, a private real estate investment firm, has acquired Gateway Plaza, a 97% occupied, 138,510-sq.-ft. community shopping center anchored by Burlington Coat Factory that is located in San Antonio’s burgeoning metropolitan area. The acquisition, which is Tryperion’s second of a San Antonio REO property in less than a year, includes additional land for future development.
 

Fort Worth, Texas -- RadioShack is partnering with Defense Mobile Corp., a Connecticut-based veterans mobile service company to be the exclusive national retailer for Defense Mobile's new nationwide 4G LTE mobile services.

RadioShack will begin offering Defense Mobile's branch branded mobile services exclusively to the 51.6 million members of the U.S. military community, including those actively serving (including members of the Reserve and National Guard), veterans and their family members, planned for September.

Monroe, Mich. -- La-Z-Boy Incorporated announced the appointments of two executive officers. Doug Collier has been named senior VP of La-Z-Boy, chief marketing officer and president, international, and Darrell Edwards has been named senior VP of La-Z-Boy and chief supply chain officer.

Collier rejoined La-Z-Boy Incorporated in June 2007 after two years with Select Comfort as chief marketing officer and senior VP marketing. Prior to Select Comfort, Collier held various leadership positions at La-Z-Boy from 2002 through 2005.