The timing of the New Year and Easter holidays negatively affected Office Depot’s first quarter sales which declined 5% to $2.7 billion and led to a $17 million loss compared to a profit of $41 million in the first quarter of 2012.
Best Buy is leaving the European market. The company is selling its stake in a joint European venture with U.K.-based consumer electronics retailer Carphone Warehouse Group PLC for cash and stock worth about $775 million USD.
RadioShack is teaming up with Beats By Dr. Dre, the popular brand of headphones and HD sound systems, on a new advertising campaign featuring recording artist Robin Thicke's hit single "Blurred Lines" and the Beats by Dr. Dre Pill portable Bluetooth speaker.
Christopher Finazzo, 57, a former EVP and CMO at Aeropostale, was found guilty of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.
Starbucks reported that its second-quarter profit rose 26% to $390.4 million, up from $309.9 million last year, amid sales increases in the Americas and Asia regions.
J.C. Penney is introducing the Bijoux Bar, a line of fine jewelry that features collections from Kenneth Jay Lane, Kara Ross, Lana Bramlette, Dominique Cohen, Doris Panos, Rodrigo Otazu and Diego Massimo.
Safeway shares dropped dramatically as the company reported $10 billion in sales for its first quarter 2013 ended March 23, which is essentially flat as compared to the first quarter of 2012.
Supervalu reported sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, compared with sales of $3.98 billion and a loss of $424 million in fourth quarter 2012.
As the six month anniversary of Hurricane Sandy approaches, online grocery service Peapod is teaming up with Family-to-Family, Inc. to launch a 90-day campaign to restock the kitchen cupboards of families still struggling from the effects of the storm.
