Data & Analytics

LOS ANGELES -- Creative Channel Services announced that it has significantly expanded its partnership with Sears Holdings Corporation by providing the CyberScholar employee-learning platform to five of the retailer's store brands that carry home appliance and consumer electronics products.  CCS has been delivering the CyberScholar solution to Sears' full-line stores and now will deliver product and sales knowledge to Kmart, Sears Home Appliance Showrooms, Sears Appliance & Hardware, and Sears Hometown stores.

San Jose, Calif. -- VeriFone Systems and Hypercom Corp. announced that they have reached an agreement to sell the U.S. payment systems business of Hypercom to Ingenico S.A.

The transaction is expected to close immediately prior to completion of VeriFone’s acquisition of Hypercom, which is expected to occur in the second half of 2011, subject to certain closing conditions.

Wayne, N.J. -- Toys “R” Us has selected Neil Friedman, most recently president of Mattel Brands, to serve as president of its U.S. business.

Friedman will oversee all merchandising, marketing, store operations, global sourcing and product development, and allocation for the chain’s 866 U.S. stores and online business. He will report to Toys “R” Us chairman and chief executive Gerald Storch.

Boca Raton, Fla. -- Office Depot said it will restate its finances for the second and third quarters of fiscal 2010 as well as for the full fiscal year. The company said the U.S. Internal Revenue Service denied its claim for an $80 million benefit related to taxes.

The removal of the benefit, which had already been recorded in financial statements, will result in a loss for 2010 of $46 million. Previously the company said it earned $33 million.

NEW YORK -- Walmart, Target, The Home Depot, Best Buy and CVS took top honors in Interbrand’s annual ranking of the 50 most valuable U.S. retail brands. The U.S. brands are valued in collaboration with Interbrand Design Forum, the retail experience group within Interbrand.

By Eric White, [email protected]

New York City -- Urban Outfitters has been sued by a shareholder who alleges company officials misled investors before the stock declined, Bloomberg reported.

The retailer wrongly led shareholders to believe business was going well until March 7, when it reported earnings of 13% less than analysts had suggested, Edward Koller III claims in a lawsuit filed yesterday in federal court in Philadelphia, the report said. Shares fell 17% the next day, Koller said.

The $33 million profit Office Depot posted in 2010 turned into a $46 million loss late Thursday after the company released restated financial results that reflected an unfavorable tax ruling by the Internal Revenue Service.