eCommerce

DALLAS — Tuesday Morning reported net sales for the third quarter ended March 31 were $172.7 million compared with $174.3 million for the quarter ended March 31, 2011, a decrease of 0.9%. Comparable-store sales for the quarter ended March 31 decreased by 3.2% comprised of a 1.8% decrease in traffic and a 1.4% decrease in ticket.

MINNEAPOLIS — Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”

PLANO, Texas — Personnel changes are quite common these days at JCPenney, the latest involving CFO Michael Dastugue,  who is leaving the company effective April 13. The company has named COO Michael Kramer as interim CFO while a search for a new CFO is conducted.

Less than a year from today Target’s first stores in Canada open and the company encounters a familiar competitive challenge in Walmart as well as some unfamiliar operators.

Dallas -- Neiman Marcus Group announced that Joshua Schulman has been appointed president of Bergdorf Goodman, effective May 7.

Schulman, 40, joins Neiman Marcus from Jimmy Choo where he was CEO. In this role, he oversaw the international expansion of the brand and the growth of jimmychoo.com. Prior to Jimmy Choo, Schulman was president, Kenneth Cole New York, and managing director, international strategic alliances, Gap, Inc.

New York -- Private equity firm Oak Hill Capital Partners has acquired an 80% ownership stake in the 25-store natural food chain Earth Fare. The deal values the company at $300 million.

New York -- Modell’s Sporting Goods announced the promotions of two members on the company’s executive team.

Charles Castaneda has been promoted to executive VP -- planning, allocation, replenishment and e-ccommerce merchandising. Castaneda joined Modell’s in December of 2010 as senior VP – planning, allocation and replenishment.

Todd Smyth has been promoted to VP/GMM of the licensed product division. He has been with Modell’s for the past 12 years.
 

Indianapolis -- Specialty retailer and team dealer Lids Sports Group said Wednesday it has teamed with Internet sports media destination Bleacher Report to launch a Bleacher Report Store site in connection with BleacherReport.com.

Indianapolis -- Simon Property Group said Wednesday that, in partnership with Mitsubishi Estate Co., it began construction of Shisui Premium Outlets (Shisui Town, Inba District, Chiba Prefecture), the ninth Premium Outlet Center in Japan.

Phase I, comprising 234,000 sq. ft. of GLA, is scheduled to open in spring 2013 with approximately 100 stores, including international brands, Japanese brands and restaurants. Simon owns a 40% interest in the project.
 

Minneapolis -- Best Buy’s announcement on Tuesday morning that its CEO Brian Dunn had resigned the company by mutual agreement has been updated with information that a review is being conducted concerning the former chief executive’s personal conduct.

Best Buy initially said that there were no disagreements or specific problems related to the retailer’s operations, financial controls or procedures. But later in the day on Tuesday it said the company was conducting an internal investigation into his “personal conduct.”