Strategy

New York City -- Spencer Gifts, a mainstay of malls across North America, has leased its first-ever location in Manhattan. The 60-year-old chain operates more than 600 stores in the United States, Canada and Puerto Rico.

As one of Spencer’s few free-standing locations, the store, located downtown near New York University, encompasses over 1,840 sq. ft. on the ground floor. It is due  to open in advance of the holiday season.

WOONSOCKET, R.I. — CVS Caremark has appointed former Macy’s executive Mark S. Cosby as president of CVS/pharmacy, effective Oct. 1.

Cosby most recently served as Macy’s president of stores, where he was responsible for all Macy's store operations and support functions nationwide.

New York City -- Ann Inc., formerly known as Ann Taylor Stores Corp., reported that its second -quarter earnings rose 33% $24.8 million, helped by strong online sales and a jump in revenue at the company's Loft stores. The company raised its full-year sales guidance, saying it is confident despite the challenging consumer environment.

It was the company’s eighth consecutive quarter of double-digit earnings growth

SHELTON, Conn. — Tomra of North America Inc., a wholly owned subsidiary of Tomra Systems ASA and leading global provider of advanced recycling solutions, today announced the appointment of Harald Henriksen as the new president and CEO of Tomra of North America. Henriksen, who joined Tomra ASA in 2004, previously served as SVP technology based in Norway.

Norwalk, Conn. -- Michaels Stores and procurement management firm LogicSource announced a five-year agreement under which LogicSource will provide print procurement and related services to Michaels. More than $250 million of print and promotional spend will be covered over the life of the contract.
 

NEW YORK — The Estée Lauder Companies announced that Richard Kunes, EVP and CFO, plans to retire effective on or about June 30, 2013. Kunes intends to continue to serve the company as CFO until June 30, 2012, or such earlier time as his successor begins to serve as CFO. Thereafter, he will continue his relationship with the company as EVP, senior advisor to the CEO, and work on special projects through June 30, 2013. The company will begin to assess internal personnel as well as external candidates for CFO.

Birmingham, Ala. -- Hibbett Sports said its second-quarter earnings rose 48%, boosted by growing same-store sales. The company also raised its fiscal 2012 earnings guidance.

The chain earned $5.9 million in the three months that ended July 30, up from $4 million in the same quarter last year. Revenue climbed more than 9% to $153.1 million.

The performance topped Wall Street expectations.

Same-store sales rose  6%.