News

Pittsburgh -- GNC Holdings reported Wednesday that adjusted net income for the quarter ended March 31 surged 85% to $64.5 million, compared with $34.9 million a year earlier.

CEO Joe Fortunato attributed the results to double-digit retail same-store sales growth, a growth in proprietary new products and increased traffic.

Consolidated revenue for the quarter increased 23.4% to $624.3 million; same-store sales grew 15.8% in domestic company-owned stores (including GNC.com sales), and 18.4% in domestic franchise locations.

WEST DES MOINES, Iowa — Supermarket-pharmacy chain Hy-Vee is launching two initiatives designed to promote sustainability, in recognition of Earth Day.

New York -- Survey results released Wednesday by Brand Keys revealed that 90% of consumers plan to celebrate Mother’s Day. Total spending is estimated to reach nearly $17.2 billion, according to the annual Brand Keys Mother’s Day survey.

Celebrants intend to spend an average of $163 this year, up 10% over 2011. Men, following a long-time pattern, intend to spend more than women, reporting an anticipated average spend of $190. Women anticipate spending $136.

New York -- Whether your company is already in the cloud or still on the fence about making the move, retailers can gain additional insight at “Legacy Modernization to the Cloud,” a FREE roundtable luncheon moderated by Chain Store Age. Attendees will learn how to move legacy workloads to the Cloud at a low cost and repurpose the savings on strategic imperatives like loyalty, mobile, and seamless digital connections.

BENTONVILLE, Ark. — Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.
 
In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”

PURCHASE, N.Y. — Stop & Shop has launched two new initiatives to make it easier for customers to live healthier lives.

The company has launched a free, quarterly magazine to help fight childhood obesity and get kids to live healthier lifestyles. Kid Healthy Ideas is a 12-page full-color publication that targets children ages eight to 12 and features health-related educational articles, games and recipes.

Secaucus, N.J. -- The Children’s Place Retail Stores announced Wednesday it has named Steven Baginski to the position of CFO, reporting to COO Eric Bauer.

Baginski spent eight years with Limited Brands, most recently as senior VP corporate finance.
 

HOUSTON — Mid-price apparel retailer Stage Stores has named Steven Lawrence as chief merchandising officer, effective April 30. Lawrence will be responsible for all of the merchandising, planning and allocation functions of the company.

Prior to joining Stage Stores, Lawrence spent 11 years with JCPenney, where he was most recently co-chief merchant EVP GMM men’s, kids and home.