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Former retail exec increases involvement in re-commerce
Former retail industry executive Austin Ligon was named to the newly created position of non-executive chairman of the board at Gazelle where he will play a more active role in development of the company’s consumer electronics re-commerce business.
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Home is where the profits are
Fourth-quarter sales at Bed Bath & Beyond grew 11.6% to $2.5 billion while profits grew 25% to $283 million for the period ended Feb. 26. On a per share basis, profits increased 30% to $1.12 in the fourth quarter, far surpassing the 97 cents consensus estimate of analysts. Equally impressive was the company’s 8.5% same-store sales increase as it occurred on top of a prior-year fourth-quarter comp increase of 11.5%.