Corporate Governance

LOS ANGELES — Guess has appointed Hillary Super as SVP, general merchandise manager for, reporting to Paul Marciano, co-founder and CEO.

"We are delighted to have a leader like Hillary at Guess.  She understands the Guess brand and values, and will lead a team of talented merchants," said Paul Marciano. "Her relentless focus on brand integrity, execution, and on the customers has allowed her to grow great businesses, and her accomplishments as a leader are exemplary."

NEW YORK — New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

NEW YORK — JCPenney is turning to Blackstone Group to help raise cash and better position itself financially, the Wall Street Journal reported.

The company is reportedly seeking $1 billion in cash, according to the Wall Street Journal, which added that options could include selling a minority stake. Penney already has been in contact with several private equity firms about a potential investment, according to the report.  

MINNEAPOLIS — Target has accepted for purchase $760.7 million worth of debt as part of a $1.1 billion debt-refinancing plan announced last month, the mass merchandiser said.

The company announced plans in mid-March to purchase up to more than $1.1 billion worth of debt securities and will pay close to the full amount for those accepted for purchase.

The offer to purchase the debt from the people holding it expired Wednesday night at 11:59, the company said.

NEW YORK — U.S. retail sales fell 0.4% in March, the biggest decrease in nine months, amid a slowdown in hiring and higher taxes. Excluding sales of autos, gas and building materials, core sales dropped 0.2% in March, following a 0.3% increase in January.

LEXINGTON, Ky. — Tempur-Pedic has partnered with HGTV to feature a wide range of sleep products in the first-ever HGTV Smart Home, which showcases the latest products in home technology, coupled with eco-friendly features. 

Built by HGTV in the community of Paradise Key South Beach in Jacksonville Beach, Fla., the high-tech home will be awarded to a winner on June 13, as part of an HGTV Smart Home Giveaway.

LOS ANGELES — Walgreens has partnered with NBC to launch a new web series inspired by NBC’s hit weight-loss competition series "The Biggest Loser."

The series follows former contestant Filipe Fa's journey to lose weight and keep it off once and for all.

New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

London -- Brooks Brothers will adopt eCommera’s decision intelligence tool, DynamicAction. Designed to turn big retail data into prioritized actions, the solution integrates siloed data into a commerce-specific cloud solution which will allow the retailer to identify optimization opportunities to improve its overall online commerce performance.
 

Issaquah, Wash. -- Costco Wholesale Corp reported a 4% rise in same-store sales, missing analysts' expectations for a 5.2% increase. The company said its results were negatively impacted by lower fuel prices and a strong dollar, which hurt the value of its sales overseas.

Net sales at Costco rose 7%to $9.67 billion for the five-week period ended April 7.