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  • Tuesday Morning names former Big Lots president as new CEO

    Dallas -- Tuesday Morning announced Tuesday that it has named former Big Lots head Brady Churches as its new CEO, stepping in for former CEO Kathleen Mason who was terminated by the company in June.

    Mason has since filed suit against the closeout retailer, alleging that she was fired because she disclosed that she has breast cancer.

    Churches’ appointment is effective immediately. His most recent position was as president of Marketing Results Ltd. Prior to that he was president of Big Lots.
     

  • Closeout veteran named CEO at Tuesday Morning

    Leading closeout retailer Tuesday Morning named Brady Churches as CEO three months after the departure of former CEO Kathleen Mason.

    According to the operator of 850 stores, the board was searching for what it called a "master merchandiser," and believed Churches’ track record of merchandising excellence, combined with his high-energy, entrepreneurial mindset would serve Tuesday Morning very well.

  • August consumer sentiment rose to three-month high

    New York -- The Thomson Reuters/University of Michigan consumer sentiment index climbed to a better-than-expected 74.3, compared to 72.3 in July and representing a three-month high.

    Aggressive retail discounting and record-low interest rates boosted the results, but unemployment remains a big concern. 

    “Confidence is lackluster,” Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd., told Bloomberg. “It typifies the economy right now. It’s not strong, but not collapsing either.”

  • Target donates $150K for hurricane relief

    MINNEAPOLIS — Target has donated $150,000 in cash and products to assist with Hurricane Isaac relief efforts. A $120,000 cash donation was given to the American Red Cross in support of response efforts. An additional $20,000 in product donations and $10,000 in Target gift cards will be given to other nonprofit organizations in affected areas for essentials such as water and food.

  • Park Plaza on Maine welcomes three new tenants

    Baldwin Park, Calif. -- NewMark Merrill Cos. announced that three new tenants have joined Park Plaza on Maine, located in Baldwin Park, Calif., joining Superior Grocers, CVS, O’Reilly Auto Parts, Chase Bank, El Pollo Loco, GNC and Bank of America.

    Menchie’s Yogurt signed a five-year lease for a 1,586-sq.-ft. location; LA Eyebrow signed a five-year lease for a 1,220-sq.-ft. space; and Family Dollar signed a lease for the approximately 9,000-sq.-ft. space next door to Superior Grocers.

  • Collective Brands returns to profit in Q2

    TOPEKA, Kan. — Collective Brands reported net earnings of $9.7 million, or 16 cents per share, for its second quarter compared with a loss of $35 million, or 58 cents per share, in the second quarter of 2011.

    Net sales increased 0.4% to $886 million, driven by a 2.9% comparable-store sales ncrease and sales growth of 6.1% in the Performance + Lifestyle Group  Wholesale segment, offset in part by operating 375 fewer stores.

  • Francesca's Q2 profit doubles; CEO to retire

    Houston -- Francesca's Holdings Corp. said Tuesday that net income for the quarter ended July 28 topped expectations by nearly doubling to $12.7 million, from $5.5 million in the same quarter last year. Sales leaped nearly 50% to $25.1 million, and same-store sales surged $20.7%.

    The company said it is on track to open 76 stores and one outlet this fiscal year, two of them in the third quarter.

  • Value in vogue for back-to-school

    Ross Stores and The TJX companies both reported a better-than-expected 8% same store sales increase during August. Shoppers continued to beat a path to Ross and TJX stores during August where exceptionally strong sales suggest consumers are unrelenting in their search for value amid protracted economic weakness.
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