Strategy

Atlanta -- Robert Nardelli, former Home Depot and Chrysler CEO, said Friday he is stepping down from his current post as CEO of firearms maker Freedom Group.

Nardelli held the Freedom Group post for just two months before deciding to depart.

He said in a statement Friday that it was a good time for him to focus on his investment and consulting company, XLR-8 LLC.

Freedom Group said it expects to name a permanent successor for Nardelli soon.

IRVING, Texas — Hostess Brands has appointed Gregory Rayburn as president and CEO. He also was named to the company’s board of directors. Rayburn replaces Brian Driscoll, whose resignation was effective March 9.

As CEO, Rayburn will oversee the company’s reorganization under Chapter 11 as well as overall corporate strategy and ongoing negotiations with the company’s unions. He joined Hostess last month as the company’s chief restructuring officer.

MINNEAPOLIS — While it may seem strange that a former Starbucks executive has been tapped to head Best Buy's digital and global business services, a closer look reveals Best Buy brewed a perfect fit.

New York -- Aeropostale Inc. reported Thursday that profit for the quarter ended Jan. 28 dropped to $26.1 million, from $83.8 million a year earlier, hurt by heightened supply-chain expenses.

Revenue dipped 4% to $808.4 million in the quarter, and same-store sales fell 9%. Results edged Wall Street’s expected $807.6 million in revenue.

For the full fiscal year 2011, Aeropostale posted a profit of $69.5 million, compared with $231.3 million last year. Revenue to $2.34 billion, from $2.40 billion in fiscal 2010.

It seems like forever ago that Walmart stopped reporting monthly sales and providing regular guidance updates, which is why one comment by Walmart CFO Charles Holley stood out above all the others he made this week at the Bank of America Merrill Lynch Consumer & Retail Conference.

Dallas -- Neiman Marcus Group said Friday it has opened its 42nd store, a full-line department store in Walnut Creek, Calif. The opening of the store makes California the retailer’s third largest market, behind Texas and Florida.

Neiman Marcus Walnut Creek features 85,870 sq. ft. of dedicated specialty retail space, personal shopping areas for men and women, cosmetics treatment rooms, an NM Café and a special events room.
 

Jacksonville, Fla. -- Apparel retailer Body Central Corp. reported Thursday that net income for the fourth quarter more than doubled to $6.1 million, compared with $2.7 million a year earlier.

Revenue surged 20% to $80.7 million, edging Wall Street’s expected $80.5 million in revenue.

For the year, net income more than doubled to $19.7 million from $9.8 million, and revenue rose 22% to $29.7 million.

NEW YORK — Ann Inc.'s net income for its fiscal fourth quarter dropped to $2.2 million from $8 million in the year-ago period, hurt by heavy promotions at namesake stores.

Sales increased to $566.7 million, from $515.3 million, and same-store sales for fourth quarter rose 5.3%.

By brand, same-store sales plummeted 10.9% at namesake stores, but rose 8.1% at Loft stores. Strength in the online channel boosted overall same-store results.