News

Beaumont, Texas -- Conn’s Inc. reported Tuesday that it earned $7.7 million in the quarter ended Jan. 31, compared with a loss of $3.6 million in the year-ago period.

Revenue increased 3.7% to $226.7 million, beating Wall Street’s expected $221.4 million. Same-store sales surged 12.1%.
   
The company said it is on track with its store opening plans, which calls for five to seven stores in new markets this year.

St. Petersburg, Fla. -- HSN announced Monday it has acquired lifestyle brand Chasing Fireflies. Terms of the transaction weren’t disclosed.

The purchase, which was made through the multichannel retailer’s Cornerstone Brands segment, will accelerate HSN’s move into content-driven lifestyle businesses.

MINNEAPOLIS — Target has brought in someone with both advertising and retail experience to oversee its marketing efforts. The company announced that Jeffrey Jones, II has been named as the company’s EVP and chief marketing officer, effective immediately. 

COLUMBUS, Ohio — Consumers have a new incentive to shop at Express, with the launch of Express Next, a new points-based loyalty program open to all Express customers throughout the United States. It replaces the previous loyalty program that was only available to Express Credit Card holders, and is designed to meet the Express shopper's habits both in-store and online, as well as reward brand interaction via social media.

HOUSTON — Specialty apparel and accessories retailer Charming Charlie has appointed four retail executives as part of the ongoing development of the company’s internal structure and another step in its ongoing national expansion, including the opening of 60 retail locations in 2012.

NEW YORK — Saks Inc. has selected Oracle's retail merchandising, planning and optimization applications and the Oracle e-business suite 12.1 to help integrate business operations and improve margins and profitability across all channels.

The implementation is part of a business-wide initiative by Saks to establish a modern, flexible and scalable IT platform that will provide finance, human resources, merchandising, commerce and store operations teams with real-time, mobile access to sales, inventory and performance data they require.

SEATTLE — Recreational Equipment Inc. has promoted Bill Baumann and Brad Brown to SVP information technology, and e-commerce and direct sales respectively. In addition, Kathleen Peterson has been named VP REI Private Brands.

J.C. Penney is in the very beginning of its transformation. But the first component of the strategy — a new pricing model that jettisoned hundreds of promotions in favor a three-tier model — in already in place. And not surprisingly, experts are weighing in.

By Christine Wheeler, [email protected]

Thanks to wireless technology, carts with on-board power supplies are opening up new frontiers of efficiency, productivity, and profitability in retail stores and distribution centers. These mobile powered workstations (MPWs) carry computers, barcode scanners, and printers of all kinds, reducing foot travel and paperwork wherever they go.

New York -- Saks Inc. has selected Oracle's retail merchandising, planning and optimization applications and the Oracle e-business suite 12.1 to help integrate business operations and improve margins and profitability across all channels.

The implementation is part of a business-wide initiative by Saks to establish a modern, flexible and scalable IT platform that will provide finance, human resources, merchandising, commerce and store operations teams with real-time, mobile access to sales, inventory and performance data they require.