eCommerce

Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.

Boston -- City Sports announced that it will open its latest retail store this week at 225 Franklin Street, marking the company's eighth store in its hometown Boston market and first in the city's financial district.
 
The Franklin Street store will open the week of Sept. 9, giving a fresh look to the space once occupied by State Street. This will be the brand's second new store in the Boston area this year, following the opening of City Sports' Chestnut Hill location at The Street this past spring.

GREEN BAY, Wis. — Shopko has teamed up with the Breast Cancer Research Foundation and apparel company West Coast Novelty Group, one of the organization's corporate sponsors, to offer an expanded line of Support the Cure merchandise at all Shopko stores. 

SAN FRANCISCO — Shutl, a same-day and same-hour delivery platform, has appointed John Kelly as the company’s EVP of retail. In his role, Kelly will be responsible for recruiting leading multichannel retailers to Shutl's same-day and same-hour delivery platform on a global scale.

Washington, D.C. - Import volume at the nation’s major retail container ports is expected to grow 5.1% in September over the same month last year as retailers head into the holiday season. U.S. ports followed by the monthly Global Port Tracker report, released today by the National Retail Federation and Hackett Associates, handled 1.43 million Twenty-Foot Equivalent Units (TEUs) in July, the latest month for which after-the-fact numbers are available.

Dallas -- Tuesday Morning Corp. said it has appointed Jeffrey Boyer as executive VP, chief administrative officer and CFO, effective immediately. Boyer fills both the existing chief administrative officer vacancy and replaces outgoing CFO Stephanie Bowman.

Boyer previously was CFO, then COO of 24 Hour Fitness Worldwide, and has also served as CFO of Michael’s Stores and Kmart Corp.  

PHILADELPHIA — Five Below saw solid performance across most of its categories, resulting in a comparable store sales increase of 6.6% for the second quarter ended Aug. 3 and net sales of $117.1 million, a 34.9% jump from $86.8 million in the prior-year quarter.

The company opened 18 new stores and ended the quarter with 276 stores in 19 states. This represents an increase in stores of 22% from the end of the second quarter of fiscal 2012. 

Philadelphia -- Five Below saw net income surge to $4.1 million for the quarter ended August 3, up from $1.2 million in the year-ago period. Sales climbed 34.9% to $117.1 million from $86.8 million, and same-store sales increased 6.6%. The company had, by the quarter’s end, opened 32 of its previously announced 60 new stores on tap for 2013.