News

New York -- Ralph Nicoletti, executive VP and CFO of healthcare services and insurance provider Cigna, will become the next executive VP and CFO of Tiffany & Co. His appointment to those offices will become effective on April 2, 2014.

Waban, Mass. -- Sam's Club and Amazon.com deliver the best customer experience in the retail industry, according to the 2014 Temkin Experience Ratings, an annual ranking of companies based on a study of 10,000 U.S. consumers. Sam's Club and Amazon.com continue their reign as the highest-rated retailers for the third straight year, each earning an "excellent" rating.

Fremont, Calif. -- Men's Wearhouse is launching its omni-channel inventory program, which gives customers visibility and access to all merchandise within the company's distribution center and its 900-plus retail locations from one location. Now, regardless of whether a customer is shopping in a single store or online, they can see all merchandise available to them throughout the company and pick up any item at the store of their choosing.

Ikea wants to expand the warehouse of its Detroit-area store in Canton, Mich. As a result, Ikea Canton, which opened June 2006 at 311,000 sq. ft., would grow to approximately 355,000 sq. ft. Initial utility work would begin this summer with actual construction starting in autumn. The store would remain open and operational during construction, maintaining its full product offering throughout the project’s completion in spring 2015.

Iconix Brand Group has made changes to its executive management team.

Seth Horowitz has been promoted to chief operating officer. Jeff Lupinacci has been hired as CFO, and Rodney Hutton has been hired as EVP of the men's division.

Warren Clamen has resigned as CFO to pursue other opportunities, according to the company.

Google has tapped Payoneer, a leading global payments company, as a payments provider for Google Trusted Stores. Payoneer will power the program’s customer payouts, providing bank transfer services that enable Google Trusted Stores to send payments to people in the countries where it currently operates.

The Google Trusted Stores program identifies online merchants that Google deems trustworthy for consumers. Google stands behind the merchants that have earned the Trusted Store badge with a $1,000 lifetime purchase protection for shoppers.

General Mills’ third-quarter sales and operating profit reflected lower volumes. The company said weak food industry trends during the period as a result of a severe winter affected its results, as did increased consumer marketing and merchandising investment in its U.S. yogurt business.

Net sales for the quarter ended Feb. 23 totaled $4.38 billion, down 1% from year-ago levels. Third-quarter net earnings totaled $411 million and diluted earnings per share totaled 64 cents per share.  

Academy Sports + Outdoors is carrying on with its Midwestern expansion and plans to open four new stores across Indiana and Kentucky later this fall.

The first two locations — Evansville, Ind., and Owensboro, Ky., will mark Academy's entry into both states followed by the opening of stores in Louisville and Middletown, Ky., prior to the holidays. In total, the four stores will generate approximately 575 jobs.

A $325 million expansion underway at the Mall of America in Bloomington, Minn., promises to make the 4.2-million-sq.-ft. retail institution even more of a destination.

A study of 10,000 U.S. consumers’ attitudes about retail customer service saw Sam’s Club best Amazon.com and dozens of other retailers among a field of 268 companies.