News

IRVING, Texas — Michaels announced that it has removed the PIN pad tampering threat from its U.S. stores and believes it has identified the time frame that customer information was exposed. Based on the latest information available, exposed PIN pad transactions occurred from Feb. 8 through May 6, the date Michaels disabled the tampered devices.

EDEN PRAIRIE, Minn. — Supervalu banner Save-A-Lot has appointed a new leader, replacing company veteran Bill Shaner, who has lead the division since 2006.

Menomonee Falls, Wis. -- Kohl’s Corp. said Thursday its first-quarter earnings rose 6%, helped by online sales and Easter demand in the Southeast.

Net income rose to $211 million from $199 million in the year-ago period. Sales in the quarter ended April 30 rose 3.1% to $4.16 billion. Same-store sales were up 1.3%.

WINSTON-SALEM, N.C. — HanesBrands announced that CFO E. Lee Wyatt has resigned effective June 30 and current controller and chief accounting officer Dale Boyles will serve as interim CFO while the company conducts a search to fill the position.

Wyatt, 58, who joined HanesBrands before its 2006 spinoff to oversee the development of the company’s financial, accounting, and external reporting capabilities, is leaving the company to seek similar opportunities, according to HanesBrands.

Organic growth initiatives come out on top (46%) when it comes to how to increase market share, followed by a mix of organic growth and M&A (22%) and primarily M&A (22%), according to a survey of 152 senior financial executives of global retail companies by KPMG International.

MENOMONEE FALLS, Wis. — Kohl’s reported that its first quarter diluted earnings per share increased 14% to 73 cents, in line with Citi and Stifel analysts expectations and with the company's updated guidance that EPS would be toward the high-end of 68 cents to 73 cents (provided on May 5). Net income for the quarter was $211 million, compared with $199 million (64 cents per diluted share) a year ago. Net sales were $4.2 billion, an increase of 3.1% for the quarter. Comparable-store sales for the quarter increased 1.3%.

Reston, Va. -- Online U.S. retail spending reached $38.0 billion for the first quarter, up 12% versus year ago, according to comScore. It marked the sixth consecutive quarter of positive year-over-year growth and second consecutive quarter of double-digit growth rates.

When it comes to shopping, Jeff Bezos, CEO of Amazon knows a thing or two about the subject, which is why it was fitting that he was the keynote speaker at Consumer Reports’ ShopSmart magazine summit on May 11. The founder of the leading online retailer offered insights on the consumer and the future of the industry.