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  • Visual merchandising firm sues J.C. Penney

    New York -- Hudson + Broad, a New York City-based visual merchandising firm, is suing J.C. Penney Co. for $40 million. H+B is seeking $20 million in compensatory damages and an additional $20 million in punitive damages.

  • Quicksilver names new CFO

    HUNTINGTON BEACH, Calif. — Quiksilver, the manufacturer of outdoor sports apparel, has appointed Richard Shields as CFO, effective May 11. Shields will be responsible for all areas of the company’s finance and accounting on a global basis.

  • Sales surge, profits decline as Amazon.com funds growth in Q1

    First quarter sales at Amazon.com surged 34% to $13.2 billion during the first quarter ended March 31, but profits declined 35% to $130 million due to rising expenses related to growth initiatives.

  • Starbucks profit jumps 18%

    Seattle -- Starbucks Corp.’s net income surged a better-than-expected 18% in its fiscal second quarter, as its store traffic increased in most parts of the world. The coffee giant also raised its forecast for the year on the results and said it was accelerating its growth.

    For the three months ended April 1, the company earned $309.9 million, compared with a profit of $261.6 million in the year-ago quarter. Revenue rose to $3.2 billion, up from $2.79 billion a year ago. Same-store sales increased 7%.

  • GE Capital provides credit facility for Le Château

    New York -- GE Capital, Corporate Finance announced it is administrative agent for a $70 million asset-based credit facility for Le Château, a leading Canadian specialty retailer and apparel manufacturer. The loan will be used to refinance existing debt and support working capital needs.

  • VF profit increases 9%

    New York -- VF Corp. said Friday that its first-quarter profit rose 9%, helped by last year’s acquisition of Timberland and global demand for its brands from North Face to Vans.

    Net income rose to $215.2 million, from $200.7 million a year earlier. Revenue was up 31% to $2.56 billion.
     

  • Albertsons LLC creates social and digital marketing team

    BOISE, Idaho — Albertsons LLC is sharpening its focus on social media and digital marketing with the creation of a new social and digital marketing team that will be led by technology and social marketing expert Karl Meinhardt.

  • Safeway profits soar in Q1; 10 Lifestyle stores on tap in 2012

    Pleasanton, Calif. -- Safeway Inc. reported Thursday that net income for the first quarter rose to $81.6 million, from $25.1 million in the year-earlier period.

    Sales edged up 2.4% to $10 billion, from $9.8 billion last year. Same-store sales were flat.

    “We continue to believe sales will grow as our new marketing initiatives take hold," said Steve Burd, chairman and CEO.

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