News

I make no political, ethical, religious or moral statement here. I am a journalist, and I have no right – or desire – to espouse my personal viewpoints in this forum.

That said, this is an interesting piece that fully illustrates how a chain’s – or its owner’s – personal beliefs can potentially hamper its ability to grow.

I can’t help but wonder if we’ll see more of these types of reports, especially as it appears that, in Chicago at least, some precedent could be set.

Fort Worth, Texas -- RadioShack Corp. reported Wednesday its worst quarter since 1996, posting a loss of $21 million in the second quarter compared with a profit of $24.9 million in the same quarter last year.

Sales inched up 1.2% to $953.2 million in the quarter, missing Wall Street’s forecasted $970.4 million in revenue, and same-store sales were flat.

SAN DIEGO — UPS has named Tim Davis president of The UPS Store franchise network.

FOOTHILL RANCH, Calif. — Shortly after announcing the firing of its CEO, Wet Seal said it was looking into the possible sale of the company to the Clinton Group.

Wet Seal received a letter from the Clinton Group on July 23 and issued the following response:

NEW YORK — Iconix Brand Group reported that total revenue for the second quarter of 2012 was approximately $93.6 million, a 5% increase as compared with approximately $89.3 million in the second quarter of 2011.

New York -- The Jones Group Inc. reported Wednesday that net income for the quarter ended June 30 soared 56% to $7.9 million, from $5 million in the year-ago period.

Sales for the parent to such brands as Nine West and Anne Klein dipped 4% to $854.8 million, missing Wall Street’s expected $865.5 million in revenue, but tightened inventory controls offset the sales decline.

Wilmington, Del. -- A survey released Wednesday by Chase Slate with Blueprint revealed that more back-to-school shoppers are carefully managing their spending and borrowing by creating a budget and sticking to it.

Thirty-eight percent report that they have a set budget for school-related expenses; in 2011, only 26% of people had created a budget for their back-to-school shopping. In addition, 32% anticipate their spending on back-to-school shopping this year to reflect pre-recession figures.

PLANO, Texas — JCPenney is boosting its store-in-store offerings by adding 700 Joe Fresh in-store boutiques to its department stores in April 2013.

Joe Fresh, which is a Canadaian fast-fashion brand, will also be featured on JCP.com.