Strategy

Springfield, Mass. -- Big Y Supermarkets plans to get rid of self-checkouts in all of its 61 stores by the end of 2011.

VENTURA, Calif. — Patagonia., a designer and distributor of technical outdoor clothing, has announced the appointment of Dmitri Siegel as the company's new VP global e-commerce, effective Sept. 12.

As VP e-commerce, Siegel will provide strategic vision, leadership, and operational expertise in directing Patagonia's e-commerce strategies both domestically and abroad, the company reported. 

WASHINGTON — Retail sales for the month of August were flat, the U.S. Census Bureau disclosed on Wednesday.

Adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, sales totaled $389.5 billion. Compared with the year-ago period, however, sales rose 7.2%. Trade sales edged up slightly by 0.1% from July, as well as 7.5% above August 2010.

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 — Earnings and comparable-store sales slipped at Best Buy, where the retailer suffered slower sales in key departments and a slowdown in consumer spending. Best Buy  has reported net earnings of $177 million, or 47 cents per diluted share, for its fiscal second quarter ended Aug. 27, compared with $254 million, or 60 cents per diluted share, for the prior-year period.

Cincinnati -- Macy’s said Tuesday it is piloting or launching a series of tech innovations designed to engage customers and drive sales.

Among the announced programs are free WiFi service in Macy’s and Bloomingdale’s stores to enable customer use of smartphone apps and in-store tablet shopping. The service, accessible by the end of October, will be activated in 230 Macy’s and nine Bloomingdale’s stores, as well as in the junior’s and young men’s departments of another 79 Macy’s stores.

DALLAS — While the still struggling economy may have rendered most Americans cautious spenders, such luxury retailers as Neiman Marcus remain resilient. The company reported that total revenues for the fourth quarter were $919.7 million compared with $826.3 million for the prior year. Comparable revenues increased 11%. Operating earnings for the fourth quarter of fiscal year 2011 were $17.5 million compared with $4.5 million for the fourth quarter of fiscal year 2010.

New York City -- For every $100 in fraudulent transactions, retailers incurred a “true” cost of $230, according to a new study released Tuesday by LexisNexis Risk Solutions.

According to the study, retail merchants and financial institutions reported an overall decline in fraud rates and transactions while total retail sales rose. Consumers also experienced a decline in fraud losses overall but the average time it took to resolve fraud issues rose by 57% and the out-of-pocket costs of fraud rose by $244.