News

MINNEAPOLIS — Fans of Michael Graves have one last chance to snag his signature housewares at Target, as the designer will launch his final collection for the retailer this March. 

New York City -- The Jones Group reported a net loss of $21.1 million in the quarter ended Dec. 31, compared with $40.1 million a year earlier.

Fourth-quarter revenue totaled $893.6 million, which was in line with analysts' expectations but lower than the company's earlier forecast.

New York City -- Genpact, a leader in business process and technology management, announced the transition services started in 2011 have been completed and IT Help Desk production support services are now fully operational as of Jan. 1, 2012 with Dollar General Corp.

NEW YORK — The popular television talk show host and comedian Ellen DeGeneres said she was “proud and happy” that JCPenney remained committed to her after One Million Moms asked the retailer to dump her as a spokesperson because she is gay.

The group, a division of the conservative American Family Association, warned they would boycott J.C. Penney stores if the chain did not go along with their request.

DeGeneres addressed the issue on Tuesday at the taping of her television show. The show will air on Wednesday.

WASHINGTON — The National Retail Federation is calling on all retail employees or business owners to show the United States that "retail means jobs." The group has launched its "This is Retail" video contest to help promote the role retail plays in the U.S. economy.

Retail employees or business owners can submit a two-minute video sharing their retail story; winners of the contest will be awarded $50,000.

I love some of the quotes that came out of this year’s Finance Forum, held in late January in Manhattan. The annual gathering of retail industry executives, suppliers and consultants has a reputation for lively chatter and it didn’t disappoint this year, thanks largely to J. Crew Group chairman and CEO Millard “Mickey” Drexler. The veteran — and notoriously outspoken — retailer wasn’t on the formal panel, but he had a few choice remarks to say from the audience during a question-and-answer session.

WOONSOCKET, R.I. — CVS Caremark recorded strong financial results for the fourth quarter and full year, and made solid progress across the enterprise during 2011, which set the stage for future growth. However, it was the potential benefit that CVS Caremark is seeing from Walgreens’ battle with Express Scripts that was top of mind for many and was a key question that president and CEO Larry Merlo hit head on at the top of Wednesday morning’s conference call.

HONG KONG — Walmart's Greg Foran will be packing his bags and heading to China. The SVP for Walmart International has been named CEO of Walmart China, effective March 1, and will relocate to China, pending work visa approval.