Retail

New York City -- Neiman Marcus plans to increase spending on technology to align its in-store and e-commerce businesses, the Financial Times reported.

Sales at Neiman’s e-commerce businesses increased 16.9% during the quarter ending Oct. 31, compared with a year ago.

Karen Katz, who took over the reins as chief executive from Burt Tansky in October, said Neiman planned to “ramp up how we connect” with customers who are increasingly equipped with smartphones and tablets, the report said.
 

Beaumont, Texas -- Regional appliance and electronics chain Conn's said Thursday that chairman William C. Nylin Jr. is stepping down and will be succeeded as non-executive chairman by director Theodore Wright.

Nylin has served as chairman since June 2009 and was executive vice chairman before that. He has been on the board since 1993 and has also served as the company's COO and president. He will remain on the board.

El Segundo, Calif. -- Fresh & Easy Neighborhood Market has announced a partnership with REC Solar, a leading solar electric system provider in the United States, to install roof-mount solar systems on nine stores in Arizona. The installation of the systems will begin in March 2011.

The combined 410 kW of installed solar systems will produce an estimated 620,000 kilowatt-hours (kWh) annually, the equivalent of reducing 22 million lbs. of CO2 emissions -- or removing 28 million car-driven miles -- over the next 25 years.

New York  City -- Fast-fashion retailer H&M will open its largest store to date on Saturday, at the Forum Shops at Caesars, on the Las Vegas Strip.

The three-level, 55,000-sq.-ft. store, which will sell women’s, men’s and children’s clothing, shoes and accessories, is located in a building that formerly housed FAO Schwarz. The toy store, which closed last January, had occupied the space, along with its iconic Trojan horse, since 1997.

Austin, Texas -- Whole Foods Market said Wednesday that its board approved a quarterly cash dividend of 10 cents per share reinstating the quarterly payment after more than two years with none. The dividend will be payable Jan. 20 to shareholders of record as of Jan. 10.

John Elstrott, chairman of Whole Foods' board, said in a statement that the decision to bring back the dividend stems from the company's strong financial position and outlook.

Minneapolis -- Supervalu says Sherry Smith has been named the grocery operator's new CFO.

Smith, 49, has been working as the company's interim CFO and will assume her new role immediately. She joined Supervalu in 1987 and has held a variety of positions at the company, including serving as its senior VP finance for eight years.
 

Ann Arbor, Mich. -- Borders Group posted sales of  $470.9 million for its third quarter ended Oct. 30, a decrease of 17.6% from the same period a year ago. Same-store sales declined by 12.6%.

The company posted a loss from continuing operations in the third quarter of $74.4 million, versus a loss $37.7 million a year ago.