News

NEW YORK — Macy's has announced Doo-Ri Chung as the next acclaimed fashion designer to take part in the designer capsule collection series for the retailer's contemporary fashion 'Impulse' department.

Minneapolis -- SuperValu reported net income of $60 million for its fiscal second quarter, compared with a year-ago loss of $1.47 billion that was the result of one-time charges. Although the company’s results beat analysts' estimates, it cut the high end of its fiscal 2012 earnings.

Revenue dropped 3% to $8.43 billion from $8.66 billion, but still beat Wall Street's estimate of $8.36 billion.

Seattle -- AccessVia announces that Modell's Sporting Goods deployed AccessVia Web dSignShop Software as a Service (SaaS) for the retailer’s in-store signage publishing system. Implementation was complete in only six weeks. 

"It's the best decision we've made in a long time,” said Mitch Modell, CEO, Modell’s Sporting Goods. “We've had nothing but great reactions and store feedback. It's been phenomenal."

WASHINGTON — The Grocery Manufacturers Association has named Robert Burns, Ph.D., as VP health and nutrition policy. Burns was most recently owner of Nutrition Implications, a consulting firm focused on helping companies develop strategic approaches to nutrition and health, including engagement with external stakeholders and development of research and communications initiatives.

Columbus, Ohio -- Limited Brands told investors Wednesday that it would up its capital spending to $590 million next year, a 39% increase over the $425 million it will spend this year and double what the retailer spent in 2009 and 2010.

Limited CFO Stuart Burgdoerfer, in his address at the company’s annual investor update meeting in New York City, said that most of the increase will be used to expand or remodel Victoria's Secret stores in the United States.

EDEN PRAIRIE, Minn. — Supervalu reduced it full-year profit forecast Wednesday morning, even though the company reported better-than-expected second-quarter sales and profits as a result of strategies president and CEO Craig Herkert said are yielding results.

PHILADELPHIA — Shoplifting, employee or supplier fraud, organized retail crime and administrative errors cost the retail industry $41.7 billion in the United States in 2011, representing 1.6% in sales, according to the Global Retail Theft Barometer released Tuesday by Checkpoint Systems. Of that, $18.4 billion was attributed to employee theft, $14.9 billion to shoplifters, $6.6 billion to internal error and $1.8 billion to suppliers.

By Andrew Wren, [email protected]