News

Minneapolis -- According to a Wednesday filing by Best Buy, former CEO Brian Dunn may receive either $3.1 million or zero in termination payments following his highly publicized resignation.

The payout is dependent on whether or not Dunn is determined to have left voluntarily on April 9.

In the filing, Best Buy said it is reviewing Dunn’s compensation pending its investigation into his personal conduct.

Atlanta -- A Wednesday report by First Data found that April sales were negatively impacted by a March Easter, but that there has been an earlier start to the spring spending season.

Menomonee Falls, Wis. -- Kohl’s Corp. reported Thursday that first-quarter profit fell 23% on aggressive price cuts, falling to $154 million from $201 million in the year-ago period. Results met internal expectations and goals, but missed Wall Street estimates.

Sales for the quarter ended April 28 edged up 1.9% to $4.2 billion, meeting analysts’ estimates.  Same-store sales inched up 0.2%.

CINCINNATI — Macy's Inc. reported a significant increase in sales for the first quarter, thanks to a strong performance in its online business. The company reported that total sales for the quarter increased 4.3% to $6.1 billion. Online sales for the quarter increased 33.7% and contributed 1.5 percentage points to the company's same-store sales increase of 4.4% for the period.

Macy's Inc. reported an earnings increase of 43% to 43 cents per diluted share, compared with 30 cents per diluted share in the same period last year.

ANN ARBOR, Mich.  — Though 79 is just one point shy of what ForeSee considers a superior score on its annual top 100 online retailers for customer satisfaction list, Target should still be concerned as it was three points behind rival Walmart, and three points does make a difference.

With the lowest score on the list being 69 and the highest being 89, achieved by Amazon.com, most retailers on the list had a score in the 70s, while 36 on the list earned the distinction of scoring 80 or higher. The scores are based on a 100-point scale.

Cirrus Healthcare has introduced a new line of earplugs featuring SpongeBob SquarePants. According to the company, these earplugs, which can be used for swimming, showering, or noise reduction, are made with soft silicone and are the only ones of their kind to use ACTIValoe.

SpongeBob SquarePants earplugs come in packs of three and six printed reusable pairs in a waterproof  carry case, with an SRP of $5.49. Suitable for all ages, they are available in CVS and other selected retailers from July onwards.



 

HOFFMAN ESTATES, Ill. — Sears has launched Team Up to Stop Bullying, an anti-bullying initiative designed to bring solutions quickly and effectively to bullying victims, families, educators and communities.

SAN BERNARDINO, Calif. — Stater Bros. reported its second-quarter results for the period ended March 25.

The retailer's consolidated sales for the quarter rose nearly 2.7% to $937.7 million, compared with the year-ago period, while same-store sales also rose nearly 2.7%. Second-quarter net income totaled $16.4 million, compared with $9.3 million for second quarter of the prior year.

MONTVALE, N.J. — A&P president and CEO Sam Martin, will be the star of the retailer's new integrated marketing campaign highlighting the company’s vision to be the best neighborhood food and drug store by offering high-quality, localized products, enhanced services and greater value, the company announced Wednesday.

SAN FRANCISCO — Gap Inc.'s online shop, Piperlime, will make its retail store debut this fall, at 121 Wooster St. in the SoHo neighborhood of New York City.

The new 4,000 sq. ft. Piperlime store will offer a similar curated assortment as online, the company said. Styled as a boutique, the store will feature the best range of coveted, iconic brands like Milly, Frye and Citizens of Humanity as well as little known finds including Tinley Road, Ash and Maison Scotch.