News

Toys"R"Us held a special preview event at its flagship location in NYC's Time Square. Speaking about the company's competitive advantages as it gears up for the holiday shopping season as well as the company’s omnichannel offerings and investments being made in its mobile capabilities were EVP and chief merchandising officer Richard Barry, as well as SVP and chief digital officer Fred Argir, respectively.

Special guest judge, Marlon Wayans, was on hand to help Miller Lite select the winner of the brand's national comedy competition "Stand Up. It's Miller Time."

Monroe, Mich. -- La-Z-Boy Inc. announced it intends to acquire three La-Z-Boy Furniture Galleries stores located in the Las Vegas market, with combined revenue of approximately $11 million. Included in the transaction are two stores in Las Vegas, and one in Henderson.

EL SEGUNDO, Calif. — Private investment firm Yucaipa Cos., which was founded by billionaire Ron Burkle, plans to acquire Fresh & Easy Neighborhood Market from U.K.-based Tesco PLC.

Yucaipa's purchase is slated to be complete within three months. In the meantime, it is expected to be business as usual for most Fresh & Easy stores.

San Jose, Calif. -- Adobe Systems Inc. is upgrading Adobe Target, an element of the Adobe Marketing Cloud, with aims of easing the optimization of digital marketing efforts. The new solution features a completely redesigned, touch-based interface, as well as a step-by-step framework, with built-in best practices, for creating and implementing A/B testing and targeting activity.

Richfield, Minn. -- Hubert Joly, president and CEO of Best Buy Co., Inc., exercised and sold 350,467 stock options and sold 100,686 shares of company stock on Sept. 6. Joly sold the stock due to circumstances relating to his divorce that was concluded in June of this year.

“As reflected in the Form 4, Joly's holdings remain substantially in excess of his 140,000 share ownership target under the company's executive stock ownership guidelines following the reported transaction,” Best Buy said in a press release.

Southern retailer Belk drew in nearly 220,000 registrants through daily prizes and giveaways in its “Belk’s 125 Days of Prizes” campaign. 

Belk partnered with mobile, social and digital engagement provider ePrize to power the sweepstakes across a microsite, Facebook and mobile channels. The multichannel campaign, which aimed to promote Belk’s 125th anniversary and to increase consumer engagement with the brand, exceeded Belk’s expectations for engagement across digital channels.

Corte Madera, Calif. -- Restoration Hardware Holdings reported a net loss  of $17.8 million for the second quarter, compared with net income of $17.6 million in the same quarter a year earlier, due to charges linked to stock awards given to chairman and co-CEO Gary Friedman.

Net revenues for the second quarter of fiscal 2013 increased 30% to $382.1 million from $292.9 million last year.