News

An “exclusive” report from Reuters this week suggests U.S. authorities are poised to put the retail industry under the microscope as a result of Walmart’s bribery scandal in Mexico.

MONTREAL — Toy manufacturer Mega Brands reported that net sales in the second quarter increased 13% to $94.5 million compared with $83.9 million in the corresponding 2011 period.

Toy sales increased 14% compared to the second quarter of 2011, driven by higher product shipments in the preschool and boys construction categories. Toy sales have increased year-over-year in ten of the last 11 quarters.

Sales of stationery and ctivities products were up 10%, the fifth consecutive quarter of year-over-year growth in this segment.

HAMILTON, BERMUDA — Specialty retail jeweler, Signet Jewelers, has named a Procter & Gamble executive to its board of directors.

Virginia Drosos, group president global beauty, skin, cosmetics and personal care for Procter & Gamble, who will retire from this position effective Sept. 1, joined the Signet board on July 25.

Despite a stagnant economy and drought conditions across large parts of the country, Brentwood, Tenn.-based Tractor Supply Co. reported sales and earnings growth.

The company posted second-quarter sales of $1.29 billion, up 9.6% from $1.18 billion in the same quarter last year.

The nation’s largest chain of farm and ranch specialty stores posted earnings of $106.6 million, up 8.3% from $91.2 million in the year-ago period.

ARMONK, N.Y. — IBM's fifth annual Online Retail Holiday Readiness report has uncovered that 2012 may just be the year of mobile.

Based on data from more than 500 U.S. retailers, the report found that online mobile sales increased 88.8% in second quarter 2012, compared with year-ago period.

What's more, IBM is forecasting that mobile sales will reach 20% of total online holiday sales this holiday season, and that mobile traffic will close in on 25%.

Profits at Amazon.com declined 96% to $7 million, or a penny a share, even though sales advanced 29% to $12.8 billion.

The ongoing build out of Amazon.com’s supply chain infrastructure hurt the company’s overall profitability, but positioned the company to deliver an even better shopper experience in the future. Amazon.com expects to open approximately 18 new warehouses this year.

Manhattan Associates announced a CEO succession plan in conjunction with strong second quarter results that saw the provider of supply chain optimization services increase its full year profit forecast.

PLANO, Texas — When JCPenney first announced its “fair and square” pricing strategy back in January with a great deal of hoopla and fanfare -- complete with a NYC media event attended by 700 people -- there was much hope that former Apple executive CEO Ron Johnson and then president Michael Francis, formerly at Target, would be able to bring some of their retail magic to the stagnant retailer.

NEW YORK — Macy's announced that Brazilian actress and model Camila Alves, will serve as the ambassador for it's exclusive I.N.C. International Concepts brand. Beginning this fall and continuing through 2013, Alves will highlight I.N.C.'s fall collection as she appears in a multi-platform campaign with a significant presence in print, digital and in store. Alves also takes on the role of media spokesperson, being at the forefront of all brand messaging such as new initiatives and product launches.

William Kenneth Butler, COO of the 1,985 unit Aaron’s rent-to-own retail chain, received a lifetime achievement award from the Association of Progressive Rental Organizations (APRO).

Butler was selected as the 2012 recipient of the Ernie Tally Lifetime Achievement Award for an exemplary career spanning nearly four decades.