eCommerce

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.

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%.

New York City -- Shoppers surprised analysts in March by spending stronger than expected during the month, despite rising gas prices, cooler-than-normal temperatures and a late Easter. The Thomson Reuters Same-Store Sales Index rose 1.7% in March, beating estimates, which called for a decrease of 0.7%.

New York City -- Brooks Bros. said Thursday that it has implemented a mobile optimized website to create a unique mobile shopping experience for its customers, powered by Digby’s Mobile Software Commerce Platform.

With the new mobile presence, customers can now search, review and buy products from Brooks Bros. directly from their mobile devices.

San Francisco -- Gap has entered into a new $500 million revolving credit facility with a syndicate of banks led by BofA Merrill Lynch, J.P. Morgan and Citigroup Global Markets. The new financing matures in 2016 and replaces the company’s existing $500 million revolving credit facility. As part of the same financing agreement, the company also entered into a $400 million five-year term loan.

NEW YORK -- Target continues to pull ahead of Walmart in the value retail category, according to a recent Harris poll. The company was named the 2011 Harris Poll Equitrend value retail brand of the year. This is the second consecutive year Target has led the way in the value retail category.

Target lead the way with a ranking of 74.1, while Walmart had a ranking of 70.8. The industry average in the value retail category was 67.3.

MONTREAL – U.S. discount-store operators should keep an eye on their Northern neighbors, as Canadian dollar stores continue to thrive. Anticipating their growth potential, Virginia-based Dollar Tree acquired Canada’s Dollar Giant Store in November 2010, adding 86 more stores to its repertoire and marking its first expansion outside of the United States.

Union, N.J. -- Bed Bath & Beyond reported Wednesday that profit for the fourth quarter ended Feb. 26 rose 25% to $283.5 million, compared with $226 million a year earlier.

The company, which forecast earnings growth for the current year that would beat Wall Street estimates, also said it expects to open 45 new stores this year across its banners , which also include Christmas Tree Shops and buybuy Baby, and expects to continue renovating and relocating existing stores.