eCommerce

Dallas -- Tuesday Morning Corp. is ceasing e-commerce operations to focus on providing in-store assortments. A statement on the retailer’s website says that due to the nature of its closeout business, it will no longer sell items online but instead focus on the quality and price of assortments in its stores.

As discount retailers such as TJ Maxx and Saks Off Fifth get comfortable in e-commerce territory, closeout retailer Tuesday Morning is bowing out of the digital space, according to reports.

WASHINGTON — Walgreens president and CEO Gregory Wasson will be the keynote speaker on the second day of Shop.org’s annual summit, as will the company’s president of e-commerce, Sona Chawla. 

Walmart lowered its full year profit forecast early Thursday after reporting weaker that expected second quarter same store sales at its U.S. division and suggested global economic conditions remain challenging.

Total company net sales increased 2.8% to $116.7 billion on a constant currency basis and profits increased 1.3% to $4.1 billion while earnings per share grew 5.1% to $1.24. That was a penny below the consensus forecast of analysts, although earnings per share included a charge related to international operations that reduced earnings by a penny.

LOS ANGELES — Virtual Piggy initiated a consumer acquisition campaign to start building its subscriber base. Throughout the past four months, Virtual Piggy has added more than 400,000 new accounts most of which are based in the U.S. and some which were recently added in Canada.  

Wayne, N.J. – Toys “R” Us on Wednesday unveiled its global growth for 2013, with the planned opening of more than 100 stores, including new locations, the relocation and conversion of 14 stores to its side-by-side format, and 22 new licensed stores. The openings represent the net addition of over 900,000 sq. ft. of retail space to the company’s store portfolio.

ALBANY, N.Y. — Trans World Entertainment has appointed veteran retail executive Martin Hanaka to its board of directors. Hanaka recently was the interim CEO of Guitar Center, Inc. from January 2013 to April 2013.

New Albany, Ohio -- Hollister Co. is partnering with Keds to release an exclusive line that features signature Hollister patterns on Keds sneakers. Beginning Aug. 15, the exclusive Hollister + Keds sneakers will be available only at HollisterCo.com, but customers can view a display inside Hollister stores to see the new patterns.