Strategy

By Rafi Musher, [email protected]

New York -- In not-so-unexpected news, a regulatory filing with the SEC on Wednesday revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors, effective Monday.

Saks has not yet named a replacement for Ullman.

Dallas -- Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

Wallingford, Conn. -- Edible Arrangements has set its sights on the Pacific Northwest for an aggressive expansion campaign designed to open as many as 30 new locations in the near future.
 
Edible Arrangements already has 10 locations in Oregon and Washington and sees significant opportunity for growth, which will be accomplished through franchising. Most of the growth will be focused in the Seattle, Tacoma and Portland areas and the company is currently seeking franchisees with the resources to open multiple locations.
 

BENTONVILLE, Ark. — Walmart has announced a $1.6 million donation to the Institute for Sustainable Communities (ISC), a U.S. based NGO, to establish the Environmental Health and Safety (EHS) Academy in Bangladesh. Sida, the Swedish International Development Cooperation Agency, is also a partner in providing support for the new Academy.

ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

NEW YORK — Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately, replacing Ron Johnson, who is leaving the company. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.

Dallas -- Tuesday Morning Corp. said total sales for the third quarter ended March 31 increased 3.1% to $178.1 million, from $172.7 million in the year-ago period.

Same-store sales rose 2.8%, boosted by increases in average transaction value and customer traffic.
 
For the nine-month period ended March 31, revenue at stores open at least a year increased 3.7% and total sales rose 3.2% to $636.2 million, from $616.4 million.

The company plans to release its full third-quarter results on April 25.