eCommerce

By Mark Ledbetter, [email protected]

There's a season for everything, and that's no less true for retailers. Merchants have historically enjoyed a central position in the retail universe, driving everything from pricing to availability. How quickly things have changed. Today, try telling a 19-year-old that she can't get a discount on the slightly frayed jeans she found on the discount rack. She'll buy a similar pair online and Tweet about it so fast, it will make your head spin!

Pittsburgh -- American Eagle Outfitters said Wednesday it has named Kitty Yung to the position of EVP/president of Asia Pacific, charged with supporting the chain’s global geographic and channel growth “while aligning with our strategic plan of fortifying core assets, growing North America and transforming to a global omni-channel competitor …,” said Robert Hanson, CEO.

New York -- A Wednesday report by Women’s Wear Daily quoted activist investor Bill Ackman, whose Pershing Square Capital Management is the largest shareholder of J.C. Penney Co., as saying that he won’t abandon the retailer following this week’s CEO shake-up.

"We are not going anywhere," Ackman told WWD in his first public comments since Ron Johnson was fired as CEO on Monday. "In fact, we're going the other direction. We're digging in."

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that net income for the quarter ended March 2 increased 14% to $373.9 million, compared with $351 million in the year-ago period. But the retailer’s guidance for the current quarter came up short.

Sales leaped 24.5% to $3.401 billion, from $2.732 billion, and same-store sales rose 2.5%.

For the fiscal year, net earnings rose 12% to $1.038 billion), from $989.5 million. Full-year revenue rose 14.9% to $10.915 billion, and same-store sales for fiscal 2012 increased 2.7%.

Dallas -- Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

By Brad LaRock, [email protected]

If the 2012 holiday retail season proved anything, it’s this: the smart merchant gets the sale. Retailers have to plan strategically, segment their customer base, and think like today’s super connected shopper.

New York -- Costco Wholesale appears to be eyeing China's online commerce market, according to published reports.

The Southern Metropolis Daily, a newspaper based in the southern Chinese city of Guangzhou, reported Thursday that the Issaquah, Wash.-based club retailer was interested in entering the country's e-commerce market and was in the process of looking for local partners.

New York -- Ron Johnson is out as CEO of J.C. Penney. In making the announcement, the company also said that that Myron E. (Mike) Ullman has rejoined Penney as CEO, effective immediately. Ullman, who served as CEO of Penney until late 2011, has also been elected to the board of directors.

Johnson’s departure was not all that unexpected given the chain’s mounting losses and sales declines. But it was still a stunning reversal of fortune for the former golden boy of Apple, who left the tech giant amid great fanfare for the top job at Penney.