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New York -- Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.

The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.

 

SHANGHAI — A day after Hershey announced plans to launch a new brand in China — marking the first time the company launches a new brand outside the U.S in its 120-year history — the company announced plans to open its Asia Innovation Center in Shanghai. 

Atlanta – The Home Depot reported sales of $19.1 billion during first quarter fiscal 2013, a 7% increase from $17.8 billion in the same quarter of 2012. Home Depot credited $574 million of this $1.3 billion increase to the addition of an extra week to the first quarter of this year. Net earnings rose 20%, from $1 billion to $1.2 billion.

WASHINGTON — The National Retail Federation has announced plans to formally oppose a proposed settlement of a federal antitrust lawsuit over credit card swipe fees charged by Visa and MasterCard. NRF is also urging retailers to carefully consider their own decisions before next week’s deadline set by the court.

Chicago – Almost all of the top 100 public retailers (97%) consider federal, state and local regulations as a risk factor, according to a new analysis of 10K filings from the largest 100 U.S. public retailers by BDO, LLP. Only general economic conditions (100%) was cited by more retailers, and this marks the highest percentage of public retailers citing regulations as a risk in the seven years BDO has been performing this analysis.

Washington, D.C. – The National Retail Federation (NRF) is formally opposing the proposed settlement of a federal antitrust lawsuit brought by 19 trade associations and six retailers in 2005. The lawsuit involves “swipe fees” charged for credit card transactions by Visa and Mastercard. Retailers that agree to settlement terms are eligible for a share of a $7.25 billion settlement.

Lewisville, Texas – Today’s shoppers are more price-conscious and in search of deals than ever before, according to a new study from digital rewards provider Parago.