News

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.

Union, N.J. -- Bed Bath & Beyond Inc. reported Wednesday that profit for the quarter ended Nov. 24 rose almost 2% to $232.8 million, from $228.5 million last year, edging Wall Street expectations.

Revenue increased 15% to $2.7 billion, just missing analysts’ forecasted $2.73 billion in revenue. Same-store sales rose 1.7%.

The retailer said it estimates Hurricane Sandy lowered comps by about 0.9% during the period.

WASHINGTON — The National Retail Federation welcomed the House vote on legislation intended to avoid middle-class tax increases in the fiscal cliff, saying progress on the issue is critically important.

CAMP HILL, Pa. — Rite Aid beat analyst expectations in third quarter 2013 as the generic wave and retention of Express Scripts customers helped drive better-than-expected adjusted EBIDTA and produced the company's first profitable quarter in five years.

"I am proud that we have achieved this significant milestone by putting our customers first and challenging ourselves to better serve them," Rite Aid president, chairman and CEO John Standley said in a conference call with Wall Street analysts Thursday morning.

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

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

Warburg Pincus has acquired a majority ownership stake in Crossmark, a leading provider of sales and marketing services to retailers and suppliers.

The companies said they entered into a definitive merger agreement whereby Warburg Pincus will make a majority investment of an undisclosed amount in Crossmark that allows for the management owners of the company to maintain a significant equity position and continue to actively lead the company after the transaction closes.

COMMERCE, Calif. — 99 Cents Only Stores has revamped its website to better showcase a range of new capabilities, including bulk purchases and in-store pickup of online orders.