Strategy

Epicor Software Corporation, a business software developer, has entered into a partnership with CyberM Information Technology Limited to resell Epicor retail technology solutions and provide in-country implementation and support services within the Asia Pacific region. 

Under the terms of the agreement, CyberM will provide sales, services and support to assist local retailers and meet the globalization requirements of multinational retailers looking to expand into APAC.

DALLAS — Closeout retailer Tuesday Morning announced the appointment of Michael Rouleau to CEO, effective immediately. Rouleau, who was appointed interim chief executive in March 2013, will also continue to serve on the company's board of directors, which he joined in November 2012.

FRAMINGHAM, Mass. — TJX’s net income for the second quarter ended Aug. 3 rose a better-than-expected 14%. The off-price retailer also increased its profit outlook for the year.

The company earned $479.6 million for the quarter, which ended on Aug. 3, up from $421.1 million in the same quarter last year.

In the 1980s, animated public service commercials featuring McGruff the Crime Dog exhorted viewers that: “Together, we can take a bite out of crime.” Two decades later, department store retailer J.C. Penney is taking that spirit of teamwork to cooperatively use technology to combat retail crime in the greater Chicago area.

Best Buy withstood merchandising related disruptions during the second quarter to achieve on plan sales results and gain momentum heading into the back half of the year.

Domestic revenue of $7.81 billion increased 0.1% versus last year. This increase was primarily driven by the revenue from 57 net new Best Buy Mobile stand-alone stores that were opened predominantly in the third and fourth quarters of fiscal year 2013, partially offset by the comparable store sales decline.

MINNEAPOLIS — Best Buy said it earned $266 million in the second quarter, compared with a profit of $12 million in the year-ago period, amid cost cuts. Its results beat Wall Street expectations.

Revenue for the quarter, ended Aug. 3, edged down to $9.3 billion, from $9.34 billion last year. Analysts expected $9.13 billion. Same-store sales fell 0.6%, including a 0.4% decline domestically. Online sales rose 10.5%.

FRAMINGHAM, Mass. — TJX Cos. reported that its fiscal second-quarter net income rose a better-than-expected 14%. The off-price retailer also increased its profit outlook for the year.

The company earned $479.6 million for the quarter, which ended on Aug. 3, up from $421.1 million in the same quarter last year.

Barnes & Noble’s founder, chairman and largest shareholder, Leonard Riggio, is calling off his offer to buy the company’s retail business, following a worse-than-expected net loss of $87 million for the first quarter, compared to a loss of $39.8 million in the year-ago period.