News

By John Orr, [email protected]

Passive-aggressive, unengaged employees just aren’t that into your customers. Worse, they might be taking it out on customers, whose experience sends them to competitors. Contrast that with the upside of having an engaged staff happy at their jobs and going out of their way to treat customers well.

By Tom Friedman, [email protected]

New York -- Coach Inc. on Tuesday reported a 12% drop in net income in its fourth quarter amid weaker same-store sales in North America, and also said it would sell its Reed Krakoff business to a group led by Reed Krakoff, who will depart the company as executive creative director when the deal is completed.

New York – The proposed acquisition of Saks by Hudson’s Bay Company is spurring investigations by at least three law firms. Law firms Harwood Feffer LLP, Robbins Arroyo LLP and Kahn, Swick and Foti LLP are all investigating concerns such as whether the Saks board of directors is fulfilling its fiduciary duties, maximizing the value of the company, disclosing all material benefits and costs, and obtaining full and fair consideration for shareholders.

Boca Raton, Fla. -- Office Depot reported a net loss, as well as declining total sales and same-store sales, during a disappointing second quarter of fiscal 2013. The retailer’s net loss of $64 million was the same net loss it reported in the second quarter of fiscal 2012. Excluding pre-tax charges, including some relating to the planned OfficeMax merger, and non-cash store asset impairment charges, the net loss would have been $28 million.

PITTSBURGH — GNC Holdings has named Carmine Fortino as EVP, business development. Fortino has extensive experience in the natural products industry and was also a former director of General Nutrition Centers, Inc. from 2007-2011.

"Carmine is a great addition to the GNC senior management team. His background in multichannel development across the health and wellness segment will enhance our approach to new market opportunities as we continue to implement GNC's proven growth strategy," said Joseph Fortunato, GNC's chairman, president and CEO.

ENGLEWOOD, Colo. — Sports Authority has named Stephen Binkley as the company’s new CMO. He replaces EVP, chief merchant and CMO Greg Waters, who has decided to resign his position to pursue personal interests after 24 years at the company. 

During his tenure at Sports Authority, Waters held several leadership roles, including EVP, marketing and merchandising, COO and SVP of store operations.

SALT LAKE CITY — Utah-based online retailer Overstock.com has a fresh round of TV ads, and they feature Snoop Lion (formerly known as Snoop Dogg), his wife, Shante, his daughter, Cori, and his sons, Corde and Cordell. 

The ads depict Snoop using Overstock.com to find products that solve his wife and kids' most pressing problems.

HOFFMAN ESTATES, Ill. — Kmart is offering Shop Your Way members a chance to save at the pump while checking off their school supply and grocery shopping lists at select stores. 

The retailer cited the AAA Daily Fuel Gauge Report, which states that the average national price of a regular gallon of gas is $3.62, compared to the national average of $3.48 a year ago. And Kmart wants to make sure the recent spike in gas prices which has coincided with the back-to-school shopping season doesn’t negatively impact foot traffic to stores. 

MENOMONEE FALLS, Wis. — Kohl’s is planning to hold a nationwide Win Great Things sweepstakes from Sunday, August 4 through Monday, September 2 — the final weeks before the school year starts for many students.