News

NEW YORK — Ikea announced that it has named McCann NY as its global agency of record for its catalog. According to the company, McCann NY will work with ICOM, Ikea's in-house communications team based at the company's headquarters in Almhult, Sweden.

 McCann NY has been charged with revamping the catalogue by utilizing new technology to create an integrated storytelling experience that includes reimagining the store environment.

Naperville, Ill. -- OfficeMax reported Tuesday that it swung to a loss of $3.02 million in the quarter ended June 25, compared with net income of $11.8 million in the year-ago period.

Total sales dipped 0.3% to $1.648 billion from $1.653 billion, but beat Wall Street expectations of $1.63 billion. In the retail segment, sales decreased 0.7% to $767.3 million from $772.7 million. Same-store sales dipped 0.5%, but results were helped somewhat by stronger same-store sales in Mexico.

NAPERVILLE, Ill. — Not that anyone needed it, but weak second-quarter sales at OfficeMax provided additional evidence this week that the nation’s business climate remains exceedingly challenging.

PITTSBURGH — Dick's Sporting Goods announced that it has created a new program to help combat concussions in youth sports.

Buying online from Amazon.com is a fantastic experience. Between the broad assortment, product reviews, available shipping options, ease of checkout and simple returns process there is a lot to like. It’s why the company’s sales are on fire, profits are beating analysts’ estimates, and the stock has traded above $200 the past month.

New York City -- Coach reported Tuesday that net income for the fourth quarter rose 4% to $202.5 million, compared with $195.5 million in the year-ago period.

Revenue surged 9% to $1.03 billion, edging Wall Street estimates. Same-store sales rose 10.1% in North America.

Coach’s performance is in line with overall strength in the luxury category. During the recessionary onslaught, the company pushed sales of handbags priced under $300, but said its average retail price of handbags is now inching back up.

ACE Hardware CFO and EVP Dorvin Lively is leaving the Oak Brook, Ill.-based hardware co-op to  pursue other interests.

Lively joined Ace about three years ago and was promoted to EVP in January 2011. On an interim basis, Lori Bossmann will oversee the finance department, while the co-op searches for a new CFO.

Lively was a professional accounting fellow at the Financial Accounting Standards Board in the early 1990s. He later became a senior VP and corporate controller at Toys “R” Us before moving on to Maidenform Brands, and then to Ace Hardware in 2008.

Sidney, Neb. -- Cabela’s announced Tuesday the launch of its iPhone and Android rich app to complement its mobile-optimized website, which launched earlier this year through mobile commerce leader Digby.

Through this initiative, Cabela’s said it is taking a strategic approach to mobile and leveraging the impact and influence it has across all channels to drive traffic, generate sales, enhance loyalty and gain insight on consumer buying behavior.