News

DALLAS — Closeout retailer Tuesday Morning has named Michael Rouleau as the company’s CEO. Rouleau, who was appointed interim chief executive in March 2013, will also continue to serve on the company's board of directors, which he joined November 2012.

NEW YORK — Barnes & Noble reported a worse-than-expected net loss of $87 million for the first quarter, compared to a loss of $39.8 million in the year-ago period. The bookseller’s troubles mounted with the news that its founder, chairman and largest shareholder, Leonard Riggio, was calling off his offer to buy the company’s retail business.

DALLAS — Although J.C. Penney reported a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue, small signs suggest that interim CEO Myron Ullman may be starting to turn things around.

The quarter was the first entirely under Ullman’s watch. Ullman returned to the retailer in April to undo the strategy put in place by Ron Johnson, who planned to transform J.C. Penney stores into a series of branded in-store shops.

PHILADELPHIA — A favorable customer response to product offerings at Urban Outfitters contributed to the retailer’s net income of $76 million for the three months ended July 31.

Total company net sales for the second quarter increased 12% to a record $759 million. Same-store sales, including the company’s direct-to-consumer channel, increased 9%.

Comparable retail segment net sales increased 38% at Free People, 9% at Anthropologie and 5% at Urban Outfitters. Wholesale segment net sales rose 17%.

NEW YORK — Canadian shoppers aren’t wowed by Target Corp., according to a customer-satisfaction rating survey by Forum Research. As reported in The Globe and Mail, the survey ranked Target at the bottom of a list of major retailers operating in Canada. (Satisfaction as measured by the survey relates to service, prices and/or merchandise offering.)

Over all, Target scored a mean 2.7 out of 4, compared with Costco’s 3.5, Wal-Mart’s 3.1 and a 3.2 average.

LOS ANGELES — Young gamers will have something to smile about now that Virtual Piggy is providing its youth-friendly payment system to Marvelous USA, Inc., the U.S.-based publishing operation of MarvelousAQL Inc.

NEW YORK — Sequential Brands Group, the parent company of Heelys wheeled footwear, plans to overhaul the footwear collection and expand into new product categories, including backpacks and other back-to-school accessories.

ROCKFORD, Mich. — Wolverine Worldwide has appointed Jodi K. Watson as president of consumer direct, reporting to chairman, CEO and president Blake W. Krueger.  

In her new role, Watson will be responsible for direct-to-consumer operations for the company, including stores and e-commerce.

Watson was most recently the company’s VP of e-commerce, leading Wolverine's global digital strategy. She has served on its retail leadership team since joining the company in 2009.