News

FRAMINGHAM, Mass. — The TJX Companies has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

The purchase was financed from TJX’s existing cash balances.

ISELIN, N.J. — Domino Sugar has donated $50,000 to the American Red Cross for relief and rebuilding efforts in the Northeast following Hurricane Sandy.

Framingham, Mass. -- The TJX Cos. said Friday it has acquired Sierra Trading Post, an off-price Internet retailer based in Cheyenne, Wyoming, for approximately $200 million in cash.

The purchase was financed from TJX’s existing cash balances.

New York -- Third quarter same store sales at Bed Bath & Beyond were negatively affected by Hurricane Sandy, but the nation’s leading home good retailer still managed to grow profits.

Bed, Bath & Beyond said net income for the third quarter ended Nov. 24, increased 1.8% to $233 million.

Sales increased 15.3% to $2.7 billion, largely due to two acquisitions earlier in the year, while same store sales advanced 1.7% and were negatively affected by an estimated .9% due to Sandy.

New York -- Walgreens fiscal first-quarter earnings dropped nearly 26% as costs tied to a couple big deals and Hurricane Sandy helped put a bigger-than-expected dent in the chain's performance.

Walgreens earned $413 in the quarter million, compared with net income of $554 million in the year-ago period. Sales fell 4.6% to $17.32 billion, with same-store sales down 8%.

By Adam Stern, [email protected]
 

Former Sam’s Club SVP and GMM Huey Long and former Target EVP of stores Troy Risch have joined forces to right the ship at RadioShack.

MOUNTAIN VIEW, Calif. — Symantec, a global leader in security, backup and availability solutions, has appointed Stephen Gillett as its EVP and COO.

ST. PETERSBURG, Fla. — Interactive multichannel retailer HSNi has appointed BBC executive Ann Sarnoff to its board of directors.

Sarnoff will also serve on HSNi’s Compensation and Human Resources Committee. Her appointment expands the number of board members to ten.

Karen Roberts was named EVP and general counsel for Wal-Mart Stores, Inc. on Thursday amid the retailer’s ongoing investigation in possible violations of the U.S. Foreign Corrupt Practices Act.

Roberts, 42, is a 17 year Walmart veteran who most recently served as EVP and president of Walmart Realty for Walmart U.S.. However, prior to that, she held the position of SVP and chief compliance officer for Walmart U.S. where she oversaw the establishment of food and product safety programs and a recycling program.