Retail

NEW YORK — CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, has named Todd Harrington Northeast regional sales manager of CIT Trade Finance.

He will report to Marc Heller, Northeast regional manager and international manager of CIT Trade Finance.

New York -- The U.S. Senate on Thursday voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.  

NEW YORK — Christopher Finazzo, 57, a former EVP and CMO at Aeropostale, was found guilty of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.

The jury took less than five hours to reach the verdict, which came after a three-week criminal trial in Brooklyn, N.Y. 

Pittsburgh -- GNC Holdings reported Friday that net income for the quarter ended March 31 rose 12.5% to $72.6 million, compared with $64.5 million in the year-ago period.

Revenue increased 6.5% to $664.7 million, from $624.3 million last year. Same-store sales advanced 1.9% in domestic company-owned stores (including online sales).

New York -- Consumer confidence dropped in April to a three-month low amid discouraging economic indicators, according to the Thomson Reuters/University of Michigan Survey of Consumers.  

The index fell 2.8% in April to 76.4 from 78.6 a month earlier. The median projection in a Bloomberg survey was 73.5 after a preliminary April reading of 72.3.

The Michigan survey’s current conditions index, which measures Americans’ view of their personal finances, fell to 89.9 in April from 90.7 last month.

Electrolux reported net sales decreased 2% to $25.3 million compared with the same period last year. On an organic basis, adjusted for acquisitions, divestments and changes in exchange rates, sales increased 3.8% compared with the same period last year.

NEW YORK — Avon has announced that nonexecutive chairman Fred Hassan has resigned his position after just four months so he can focus on other professional commitments.

Hassan serves as a nonexecutive chairman of Bausch + Lomb and is a managing director and partner at Warburg Pincus LLC. He also serves on Time Warner’s board.

New York -- Christopher Finazzo, 57, who was an executive VP and chief merchandising officer at Aeropostale, was found guilty on Thursday of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.
      
The jury took less than five hours to reach the verdict, which came after a three-week criminal trial in Brooklyn, N.Y.