Retail

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.

EAST RUTHERFORD, N.J. — Kid Brands, Inc. has appointed Jodie Simon Friedman as the company’s VP, general counsel and corporate secretary. She replaces Marc Goldfarb, who resigned his position as general counsel and corporate secretary to pursue other opportunities. 

Goldfarb has agreed to remain available to the company as a consultant providing legal services.

Los Angeles -- Sporting goods retailer Sport Chalet generated a loss of $2.8 million in the first quarter, compared with a profit of $100,000 in the year-ago period.

Sales slipped 2.8% to $81.5 million from $83.8 million, and same-store sales fell 0.7%.

MENOMONEE FALLS, Wis. — Kohl’s continues to focus on funding its e-commerce growth following results for the second quarter ended August 3. 

New York -- As turmoil continues to surround J.C. Penney, one investor is upping his support of the embattled retailer even as two other large investors leave. Regulatory filings on Wednesday revealed that billionaire investor George Soros has added two million shares to his current 19.98 million in Penney holdings.

The latest investment makes Soros Fund Management Penney’s second-largest investor, behind disgruntled hedge fund manager Bill Ackman.

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.

Chantilly, Va. – Operators of franchises are actively involved in the local online and social media presence of their franchise businesses, often funding and controlling digital marketing activities at the local level. A new report from BIA/Kelsey, Local Commerce Monitor Wave 17 (LCM), shows that franchises estimated their franchisors covered, on average, 43% of the online presence costs of their individual businesses, for things like website development, landing pages, enhanced listings and online video