News

Minneapolis -- Christopher & Banks Corp. narrowed its fiscal fourth-quarter loss as the company received a boost from an extra week of sales and cut costs.

The retailer posted a loss of $4.1 million for the 14 weeks through Feb. 2, compared with a loss of $53.2 million in the 13 weeks the year before.

Revenue was up 10%, to $116 million from $105.6 million. Same-store sales jumped 18.5%.

Total expenses fell 25% to $120 million.

ARMONK, N.Y. — IBM has opened its Customer Experience Lab in New York with the goal of helping business leaders transform the way customers experience their products, services and brands through the use of mobile, social, cloud and advanced analytics technologies. 

 IBM scientists and business consultants will co-create with clients to deliver systems that learn and personalize the experiences of each individual customer, identify patterns, preferences and create context from Big Data, and drive scale economics. 

By Greg Kefer, [email protected]

The latest study on the risk posed by supply chain disruptions by Deloitte just hit the news. Executives were surveyed regarding feelings (or fears) about their exposure to unexpected events in their global supply chains. As you can imagine, most feel unprepared and report disruptions have become more costly. Negative outcomes in the global supply chain like costly margin erosion and demand change are all too common for most companies.

SAN FRANCISCO — Target has agreed to buy Chefs Catalog from JH Partners, LLC, a private equity firm specializing in investing growth capital in consumer-focused companies. 

Chefs Catalog is a leading direct-to-consumer specialty retailer of top-rated cookware, bake ware, cutlery, kitchen tools and cooking utensils including such brands as All-Clad, Cuisinart and Kitchenaid.  JH Partners acquired Colorado Springs, Colorado-based Chefs Catalog from The Neiman Marcus Group, Inc. in 2004. 

Scott Kennedy was named president of Target financial and retail service to replace long time finance executive Terry Scully.

Scully spent nearly 35 years with Target and is moving into a strategic advisory role to ensure the smooth transition of the recently sold credit card portfolio to TD Bank Group. Scully, 60, will officially retire in March 2014. Filling his shoes as head of financial and retail services is Scott Kennedy, 44. He joined Target in 2005 and currently serves as VP of pay and benefits.

Unable to recover from a slow start to the fourth quarter, Men’s Wearhouse reported a 1% same store sales increase and a worse than expected loss of 7 cents a share.

NEW YORK — Maybelline New York has launched "City," its first monthly fashion and makeup blog.

Houston -- The Men's Wearhouse Inc. posted a larger-than-expected loss for its fiscal fourth quarter. The retailer also announced that it was exploring the possible sale of its weaker performing K&G unit.

The company lost $3.4 million for the quarter that ended Feb. 2, compared to a loss of $3.8 million in the year-ago period.

Revenue rose 8.2% to $608.4 million. Revenue from Men's Wearhouse stores, which made up 61% of the quarter’s sales, rose 9.1%.