News

WALTHAM, Mass. — Profitect, provider of software solutions for the retail industry, announced that Daniel Corsten has joined the company’s board of advisors. 

BERKELEY, Calif. — Annie's Inc., a manufacturer of natural and organic food, announced that Lawrence (Larry) Peiros has been appointed to its board of directors effective immediately. David Behnke, a managing director at Najeti Ventures, resigned from the board to pursue other interests. Peiros was appointed to the Board to fill the vacancy. 

Minneapolis -- Best Buy Co. said that its loss narrowed in the fourth quarter, helped by improved U.S. sales. In a separate release, the company said that the deadline passed without it having received an acquisition offer from its co-founder, Richard Schulze, who had been considering making a bid for the chain.

“The company received no such offer and will continue to focus on its transformation for the benefit of all of its stakeholders,” Best Buy said in a statement.

BOSTON — Braintree has been named as a finalist for a 2013 Innovator Award in the category of Most Disruptive by PYMNTS.com.

Following a year of rapid expansion, specialty apparel retailer Body Central said it will pare new store growth to 25 units in 2013 from 39 openings last year.

Body Central opened 13 stores during the fourth quarter to end the year with 276 units operating under the Body Central and Body Shop banners which, according to the company, target women in their late teens and twenties from diverse cultural backgrounds who seek the latest fashions and a flattering fit.

With 4,000 U.S. stores serving as product depots, same day delivery holds great potential for a retailer with an unrivaled retail footprint, assuming a strategy can be developed to profitably unlock the opportunity.

Walmart has experimented with same day delivery on the west coast where order are fulfilled from stores and a broader rollout of the service would seem inevitable at some point in the future given online shoppers desire for immediate gratification.

Hoffman Estates, Ill. -- Sears Holding Corp. reported a higher-than-expected quarterly profit for the fourth quarter before special items, boosted by lower costs.

The company said its net loss for the quarter ended on Feb. 2 narrowed to $489 million from $2.4 billion a year earlier. Total costs dropped 2.2% to $12.88 billion in the fourth quarter.

Sales declined about 1.8% to $12.26 billion, but beat analysts' average estimate of $11.77 billion.

MINNEAPOLIS — Target is planning a rollout in Canada that will be bigger than any single year's worth of its store openings in the United States ever, executives of the company said Wednesday morning in a call with Wall Street analysts to discuss the mass merchandise retailer's fourth-quarter and full-year 2012 results.