News

NEW YORK — JCPenney Co. continues to dominate the retail news as its shares dropped 10.6% yesterday to a four-year low after reports that one of its largest shareholders had sold a chunk of the troubled company’s stock. And in a late afternoon report, The Wall Street Journal said that a group of Penney directors is ready to get rid of CEO Ron Johnson, or push to sell the chain unless he can stop the company’s heavy bleeding this year.

NEW YORK — The board of directors of the International Licensing Industry Merchandisers’ Association (LIMA) has selected Bernard Leifer, president and CEO of The SG Companies, for induction into the LIMA Licensing Industry Hall of Fame.  

The induction will take place at the annual LIMA Awards Ceremony on June 18, 2013 during the industry’s main event, Licensing Expo 2013, in Las Vegas.

KING OF PRUSSIA, Pa. — GSI Commerce, an eBay Inc. company, said it has extended its contract with PetSmart to support the retailer’s omnichannel strategy with webstore, fulfillment and customer service solutions. GSI has worked with PetSmart since 2007, and this contract will extend the relationship for three years.

FRAMINGHAM, Mass. — Staples reported that total company sales for the fourth quarter were $6.6 billion, an increase of 3% over the same period last year.

On a GAAP basis, the company reported fourth quarter 2012 net income of $90 million, or 14 cents per share, compared with net income of $284 million, or 41 cents per diluted share, achieved in the fourth quarter of 2011. 

COLUMBUS, Ohio — Big Lots reported income from continuing operations of $120.3 million, or $2.09 per diluted share, for the fourth quarter of fiscal 2012, meeting the company's expectations for net income to be in the range of $1.91 to $2.10 per diluted share.

Net sales for U.S. operations for the fourth quarter of fiscal 2012 increased 4.4% to $1.8 billion, compared to $1.6 billion for the same period of fiscal 2011. Comparable-store sales for U.S. stores decreased 3.5% for the quarter. 

SPARKS, Md. — McCormick announced that Chuck Langmead has been promoted to president of global industrial. In his new role, Langmead will help McCormick drive sales growth by aligning its customer intimacy efforts and driving its strategy consistently across McCormick's industrial businesses worldwide.

AUSTIN, Texas — SecureNet announced that it will launch its next generation of Mobile Payments API libraries (version 2.0) early next month, enabling quick and easy integration with mobile and point-of-sale applications for seamless mobile checkout. The company also plans to release an advanced suite of developer integration tools complete with interactive code samples in multiple languages, easy-to-follow quick start guides by acceptance type, a robust self-service development sandbox and specialized support resources.

DOVER, N.H. — Zander Livingston, CEO of Truecount Corp, an RFID software provider, announced that Truecount is introducing a new Software as a Service (SaaS) pricing and deployment model that places inventory visibility and all other RFID benefits within the reach of any size retailer. 

PITTSBURGH — American Eagle Outfitters reported adjusted fiscal year 2012 earnings for the 53 weeks ended February 2, 2013 of $1.39 per share, a 43% increase from fiscal year 2011 adjusted earnings of 97 cents per share for the 52 weeks ended January 28, 2012. 

CHICAGO — Schawk, a provider of brand development and deployment services, enabling companies of all sizes to connect their brands with consumers, announced that it has appointed Jackie DeLise to the position of vice president of business development.