Strategy

Cupertino, Calif. -- Apple reported a record second-quarter net profit of  $5.99 billion, or $6.40 per diluted share, and revenue of $24.67 billion, thanks to strong sales in Macs, iPhones and iPads. These results compare with net quarterly profit of $3.07 billion, or $3.33 per diluted share, and revenue of $13.5 billion, in the year-ago quarter. International sales also helped boost profits, as they accounted for 59% of the quarter’s revenue, the company reported.

New York City -- Members of the largest union local representing Southern California grocery workers gave their negotiators the power to call for a strike if contract talks with major supermarket chains break down, it was announced Thursday. Results for the other locals were not immediately available.

Passage of the strike authorization would not necessarily mean a strike is imminent. Contract talks that began in February are set to resume next week with negotiators for The Vons Cos. Ralphs Grocery Co., a subsidiary of The Kroger Co.; and Albertsons.

Cleveland -- Forest City Enterprises said Wednesday it has promoted Duane F. Bishop Jr., to the position of executive VP and COO of the company’s Commercial Group.

Bishop was previously executive VP – Asset Management. 

Forest City’s Commercial Group, the largest of three major strategic business units, includes the company’s retail, office and hotel properties.

New York City -- Borders is seeking at least $50 million in additional financing as sales trail expectations and publishers demand cash in advance, according to two people who have seen the chain’s plans to reorganize, Bloomberg reported. The bankrupt retailer already has a $505 million debtor-in-possession loan from lenders led by GE Capital.

Borders may risk liquidation without further investment, easier terms from vendors or a buyer, said the people, who declined to be identified because the process isn’t public, the report said.

Secaucus, N.J. -- The Children's Place Retail Stores said Tuesday that its customer email address database, which is stored at an external email service provider, was accessed by an unauthorized third party.

According to the provider, email addresses were accessed and no other personal information was obtained.

The Children's Place said it is notifying its customers and has launched an investigation.
 

Anaheim, Calif. -- Pacific Sunwear of California announced that Michael Kaplan will join the company as senior VP and CFO, effective May 2. He will be replacing Mike Henry who became interim CFO in November 2007 and was named CFO in January 2008.

Most recently, Kaplan was CFO of Harbor Freight Tools, a 349-store retailer of proprietary branded tools. Prior to joining Harbor Freight Tools in 2010, he was a senior executive of Gap Inc. from 2005 to 2010.

The recent opening of the 500th Vitamin Shoppe store was heralded as an important milestone for this rapidly growing company but within a few years the nation’s second largest nutritional products specialty retailer could be eyeing 1,000 units.

“There are many markets we are interested in establishing a presence in, and we will continue to move forward with our growth plans to expand in current markets and penetrate new ones,” Vitamin Shoppe CEO Tony Truesdale said on the occasion of the opening of the 500th store in St. Peters, Mo., earlier this month.

New York City -- Gap has chosen Manhattan's Upper West Side for its second freestanding Athleta store, Crain’s New York Business reported.

The report said has signed a lease to open a 3,500-sq.-ft. Athleta at 216 Columbus Ave. at W. 70th Street. The store will open in the fall, and Gap is already seeking more New York area locations, according to Crain's.

Gap bought Petaluma-based Athleta, a catalog and website that sell women's athletic clothes, for $150 million in 2008.