Mass Merchant

I have to admit it: I was shocked when I heard the news this week that Glen Senk, the widely-admired CEO of Urban Outfitters, was resigning.  Sure, the company wasn’t coming off the best of years, having battled lackluster sales throughout much of 2011. A series of fashion misses — nothing new in the always dicey world of women’s apparel — had taken their toll on profit as the retailer sought to clear slow-moving merchandise with deep discounts.

In an era when retail cashiers look warily at a $100 bill, hard to imagine what a man was thinking when he tried to pass a $1 million bill at a Walmart in North Carolina.

Walmart’s sharpest critics will acknowledge that much good has come of the company’s sustainability efforts, but there are voices who maintain an inherent conflict exists between saving the planet and a business model based on selling as much low-priced stuff as possible to as many people as possible.

By Stephen Wyss, BDO USA, LLP

COMMERCE, Calif. — Sales at 99-Cents Only Stores rose 10.6% to $403.9 million for the third quarter of fiscal 2012 over sales of $365.4 milllion for the same quarter last year.  

The company's overall same-store sales for the third quarter of fiscal 2012 increased 8.5%. The number of same-store-sales transactions increased 5.6% and the average transaction size increased to $9.86 from $9.59.

Fort Worth, Texas -- Edge Realty Partners announced several Sears concept planned openings in Texas. 

Sears Outlet leased a 30,577-sq.-ft. space in Ridgmar Town Square located in Fort Worth, Texas. Sears Appliance Showroom leased a 5,500-sq.-ft. space in Timber Creek Crossing in Dallas.

And Sears Outlet leased a 35,398-sq.-ft. space in Cottonwood Creek Village Shopping Center located in Allen, Texas.
 

Hoffman Estates, Ill. -- Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Goodman was hired two years ago as executive VP of apparel and home, charged with turning around the retailer’s clothing business. His departure, which Sears says happened last week, coincides with the Jan. 3 arrival of Ron Boire, the former Brookstone president and CEO, as executive VP and chief merchandising officer for Sears and Kmart brands.

Roughly 50,000 acres of additional wildlife habitat across the United States will be preserved in 2012 as part of Walmart’s Acres for America program.

The company announced awards to support projects in California, Colorado, Florida, Georgia, Hawaii, North Carolina and Tennessee as part of the Acres for America program that began in 2005 with a $35 million commitment to purchase and preserve one acre of wildlife habitat in the U.S. for every acre of land developed by the company through 2015.