News

Richfield, Minn. -- Hubert Joly, president and CEO of Best Buy Co., Inc., exercised and sold 350,467 stock options and sold 100,686 shares of company stock on Sept. 6. Joly sold the stock due to circumstances relating to his divorce that was concluded in June of this year.

“As reflected in the Form 4, Joly's holdings remain substantially in excess of his 140,000 share ownership target under the company's executive stock ownership guidelines following the reported transaction,” Best Buy said in a press release.

Shopko is building on its 20-year relationship with the Green Bay Packers by unveiling the Shopko Gate, recent completed as part of Lambeau Field’s South End Zone expansion. Thousands of fans will enter the stadium through the new gate Sept. 15 for Green Bay’s first home game of the season.

Corte Madera, Calif. -- Restoration Hardware Holdings reported a net loss  of $17.8 million for the second quarter, compared with net income of $17.6 million in the same quarter a year earlier, due to charges linked to stock awards given to chairman and co-CEO Gary Friedman.

Net revenues for the second quarter of fiscal 2013 increased 30% to $382.1 million from $292.9 million last year.

SANDPOINT — Traffic to specialty retailer Coldwater Creek dropped in July leading to lower-than-expected sales for the second quarter ended Aug. 3. The company is taking several steps, including bringing in a new chief marketing officer, in an attempt to turn things around. 

Consolidated net sales for the quarter were $149.7 million, compared with $163.7 million in second quarter 2012. Net sales from the retail segment were $118.6 million, compared with $129.9 million in the same period last year. 

Sandpoint, Idaho -- Coldwater Creek Inc. narrowed its second quarter loss to $16.4 million from a year-earlier loss of $17.6 million.

Revenue was down 8.5% to $149.7 million, below the $163 million estimate from analysts. Same-store sales fell 7.3%.

President and CEO Jill Dean said sales were lower than planned in the latest period largely due to a deceleration in traffic in July.

Matthews, N.C. -- Family Dollar Stores announced that it has named Jeffrey W. Macak to the position of executive VP–supply chain.

For the last 13 years, Macak has served as VP-global supply chain for Bed Bath & Beyond, where he was responsible for the supply chain, logistics and distribution of goods for the company and its subsidiaries.

By Greg Slusser, [email protected]

A case on the California Supreme Court’s docket questions whether or not a common law duty requires retailers to have automated external defibrillators (AEDs) ready to use in stores to treat sudden cardiac arrest, which strikes about 380,000 Americans each year and is the leading cause of death in the U.S.

Economic issues in Venezuela and fruit supply constraints affected Del Monte’s consumer business for the first quarter ended July 28. The company’s pet business, however, offset volume declines and helped net sales increase 0.3% to $823.9 million from $821.1 million for the prior-year quarter.