News

New York -- Village Tea Distribution Company Inc., in partnership with Village Tea Direct LLC, has launched the company's updated e-commerce platform. The site features a more product-focused interface with consumers.

Campbell Soup Company begins 2014 with two new executives in key roles as it looks to drive sales in Asia and increase marketing effectiveness in the United States following a difficult first quarter.

SED International Holdings chairman Sham Gad has assumed the role of CEO at the troubled supply chain management provider and distributor of consumer electronics and small appliances.

Gad fills a role previously held by Mike Hagan who was appointed to the position on an interim basis in October following the resignation of former CEO Robert O’Malley.

Razor USA said it set holiday sales records this year due to the surging popularity of a $399 ride-on product called the Crazy Cart that YouTube helped make a hit.
 

Armonk, N.Y. -- Overall Christmas Day online sales were up 16.5% from the same period last year. IBM Digital Analytics Benchmark data for Dec. 25, 2013 shows mobile traffic was the highest IBM recorded this holiday season, accounting for 48% of all online traffic, up 28.3% compared to the same period last year.

Mobile sales also remained strong, approaching 29% of all online sales, up 40% from 2012.

New York – Amazon.com and Macy’s reportedly look financially strong even in the wake of expected post-holiday discounting, while Sears, Kmart and J.C. Penney are not expected to be so fortunate. According to new analysis from 24/7 Wall St., Amazon.com should hold onto substantial holiday profits as long as free shipping does not impact its margins.

New York – At least four law firms are investigating the pending purchase of The Jones Group. The law office of Brodsky & Smith, LLC, Vincent Wong, Farugi and Farugi, LLP and Robbins Arroyo LLP are investigating potential claims against the board of directors of The Jones Group, Inc. relating to the proposed acquisition by Sycamore Partners.

Indianapolis – Jeremy J. Aguilar has resigned as CFO and secretary of Hhgregg, effective Jan. 31. Andrew S. Giesler, senior VP finance, has been appointed to serve as interim CFO and secretary from Jan. 31 until a full-time replacement is named.

Giesler, 36, has served the company in several roles since joining in May 2007, including senior VP finance; VP finance; VP controller and director of finance and investor relations. Aguilar is leaving to take a similar role at another company.

Westbury, N.Y. – Online discount retailer DealYard has optimized its site in a customer-friendly way, using personalized recommendations that are provided by CRM vendor 4-tell. In addition, users will receive ideas on what to add next, a feature provided by VeInteractive.

Compton, Calif. – Numerous law firms have launched investigations into the board of directors of Arden Group, Inc. to determine possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to the investment firm TPG.