Strategy

Bentonville, Ark. – Wal-Mart Stores, Inc. has lowered the same-stores sales guidance it previously released for fourth quarter 2013 due to factors including severe winter weather and reduced governmental assistance to consumers. Wal-Mart U.S. guidance for the fourth quarter previously projected same-store sales without fuel to be relatively Sam’s Club same-store sales without fuel to be between flat and up 2%.

The J. M. Smucker Company has named Kevin Jackson as VP and GM of foodservice effective May 1. Jackson succeeds Ken Miller, who is retiring on June 15, after 34 years with the company.

Jackson has been with the company for 12 years in marketing leadership positions within the U.S. retail business, most recently in the role of VP of marketing for the coffee business, which includes the Folgers, Dunkin Donuts, Millstone, Cafe Bustelo, Cafe Pilon, and Life is good brands.

Chicago – Mercury Payment Systems plans to have its day in court against Heartland Payment Systems. Mercury has indicated it will contest the federal lawsuit Heartland Payment Systems filed, charging the company with false advertising, unfair competition, intentional interference with contractual relations, and intentional interference with prospective economic advantage. The suit, filed in U.S.

Tuesday Morning is starting to see the results of its turnaround strategy, which involved the company exiting a number of non-core categories, such as women’s apparel and footwear.

In the second quarter of fiscal 2014, comparable sales in ongoing core categories increased 7% and were led by exceptional strength in furniture, up 57%; sheets and linens, up 23%; and home décor, up 20%.   

Boston – Wayfair reported $915 million in revenue to close the year 2013, with an annual revenue growth rate of 55% and order intake exceeding $1 billion. The company said its portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter.

Anna’s Linens has elevated company president Scott Gladstone to CEO. The home furnishings and home décor retailer was founded by Alan Gladstone, and now has more than 300 stores throughout 19 states.

“Scott has spent the last eight years at Anna’s bringing innovation and business improvements to many different areas of the company. I am proud of what we have done together and have absolute confidence that he is the person who can lead us in writing the next chapter of Anna’s history,” said Alan Gladstone.

Intrix Technology, a leading payment processor, has named Peter N. Matino as chief sales officer, a newly created position.

In his new role, Matino is responsible for building a nationwide sales organization and executing an integrated sales strategy as well as developing and executing corporate marketing strategies.

Vancouver, Canada -- As part of a restructuring Best Buy Canada will be consolidating sales departments and reducing management layers in Future Shop and Best Buy stores, resulting in the layoff of about 950 full-time employees across both Future Shop and Best Buy brands. All store employees were notified individually about these changes and those impacted were provided with severance packages.