Strategy

Dallas -- Neiman Marcus Group reported a fiscal fourth-quarter loss on debt-related expense and slightly lower margins, even as its revenue rose 11%.

For the quarter ended July 30, Neiman Marcus lost $61.4 million, compared with a year-earlier loss of $32.8 million. Excluding a $42.7 million after-tax loss on debt extinguishment, the adjusted loss was $18.7 million. Gross margin narrowed to 30.5% from 30.9%.

Minneapolis -- Best Buy Co. reported Tuesday that net income for the quarter ended Aug. 27 plummeted 30% to $177 million from $254 million a year earlier, missing Wall Street expectations.

MINNEAPOLIS — Target announced that it has donated $60,000 to assist with Texas wildfire relief efforts. A $25,000 cash donation was made to the American Red Cross with the additional cash and product donations made to other nonprofit organizations in the Texas area.

Target teams provided 12,000 bottles of water, 3,600 bottles of Gatorade, and 500 boxes of snacks to Bastrop Public Works yard last week, along with donations of clothes, diapers, toiletries and bedding to support wildfire relief efforts, the company reported.

NEW YORK — The Jones Group announced that Marchon Eyewear will be exclusive provider of ophthalmic eyewear frames and prescription-ready sunglasses for distribution under the Nine West brand.  

Under the agreement, the Nine West ophthalmic eyewear collection will be marketed and sold globally in upscale optical chains and optical specialty retailers and by individual eye care professionals beginning in early January 2012, The Jones Group reported.  

ATLANTA — Canada's importance to the retail industry continues to grow, made evident by the recent news that Office Depot has engaged ShopVisible, a leading provider of on-demand e-commerce, social commerce, and mobile commerce solutions, to launch the retailer’s new Canadian-facing e-commerce site.

HOUSTON — Stage Stores has announced that Mike Searles has joined the company as president and COO of its South Hill division, which is headquartered in South Hill, Va. Searles, who will report to Rich Maloney, EVP and chief merchandising officer, will be responsible for all operations of the South Hill division, including merchandising, planning and allocation, and store operations.

PHOENIX, Ariz. — The Global Market Development Center, the trade group for health, beauty, wellness and general merchandise retailers, announced that it has awarded its 2011 Lifetime Achievement Award to Terry Cox, retired group VP at Kroger, at its Health Beauty Wellness Marketing Conference in Phoenix, Ariz.

The wheels of justice turn slowly. So slowly in fact that just last week a former adviser to President George W. Bush was stripped of his license to practice law in Washington, D.C. for one year in connection with a fraudulent return scheme perpetuated at Target and other retailers in early 2006.

New York City -- British apparel retailer Acadia Group opened its second Topshop/Topman location in the United States, a three-level store on Chicago’s North Michigan Avenue. The space, which boasts some 35,000 sq. ft. of selling space, was previously was occupied by a Borders store.

Topshop will debut its third U.S. location, in Las Vegas, in March 2012.

New York City -- Most than a quarter of Americans expect to spend less during the holidays this year, according to a survey by American’s Research Group, Reuters reported.

About 27% of people surveyed said they planned to spend less this year, while about 55% expect to spend only as much as last year. The question was one of several asked exclusively for Reuters as part of a larger America's Research Group survey.