Strategy

Electrolux president and CEO Keith McLoughlin reflected on the company's progress during the second fiscal quarter, pointing to prospects for growth.

However, net sales decreased by about 4.9% year-over-year, totaling $26.3 billion for the three-month period. That decrease was slightly smaller for the six-month period — 2%.

Meanwhile, the company posted a net loss of $92 million for the quarter. For the first six months, the company's net income of $339 million compares to net income of $1.003 billion for the same six-month period last year.

New York -- Spanish apparel giant Inditex, plans to have radio frequency identification technology in place in its nearly 2,000 Zara stores around the globe by 2016. The technology has already been installed at all of Zara's distribution centers and at more than 700 Zara stores.

PPG Industries, a leading coatings and specialty materials company, has elevated EVP Michael H. McGarry to chief operating officer, effective Aug. 1. He will remain based at PPG’s global headquarters in Pittsburgh and continue to report to chairman and CEO Charles E. Bunch.

McGarry will have executive oversight responsibility for all of PPG’s strategic business units and operating regions and for the information technology (IT), environment, health and safety (EH&S) and purchasing functions.

VF Corp., the company behind popular brands such as The North Face, Timberland and Wrangler, relied on the strength of its 1,300 unit retail operation to drive sales during the second quarter.

New York -- Greg Buzek, president of IHL, which tracks mobile spending and forecasts for the retail and hospitality markets, offers analysis on the recently announced IBM-Apple partnership:
 
If IBM and Apple for retail were people on Facebook right now, the relationship status would say “It’s complicated."

Shopko is looking to drive traffic to its stores and e-commerce site with the launch of a new fashion blog called TREND.spire. The blog offers shoppers tips on how to put outfits together with pieces from either bricks-and-mortar locations or online.

Genius Brands International, a global brand management company that develops “content with a purpose” for toddlers to tweens, continues to build its global licensing structure with the appointment of industry veteran Stone Newman to the newly created post of president, global consumer products.  

Virginia Beach, Va. -- Home furnishings retailer West Elm will open a new store at Town Center of Virginia Beach, the retailer’s first in the Hampton Roads market.

The new store will be located on Main Street on the first floor of the newly constructed 4505 Main Street Tower, next to the recently announced Anthropologie store. A grand opening is slated for 2015.