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Best Buy Canada selects Stibo Systems to fuel its multichannel efforts

BY Marianne Wilson

Atlanta — Stibo Systems announced that Best Buy Canada has selected Stibo Systems to optimize its customer’s online and mobile e-commerce experience.

Best Buy Canada, which operates roughly 225 consumer electronics stores under the brands Best Buy, Best Buy Mobile, and Future Shop, will use Stibo Systems’ Step platform to support their multichannel efforts and to streamline item setup and data management for the English-Canadian and French-Canadian versions of www.bestbuy.ca and www.futureshop.ca.

“Creating an impressive multichannel experience for our customers is Best Buy Canada’s number one goal, and we remain committed to meeting their needs both online and in the store,” said Robert Pearson, VP e-commerce at Best Buy Canada. “Leveraging Stibo Systems’ deep experience and its proven Master Data Management platform, we can ensure success in achieving our e-commerce objectives and more importantly, continue to meet the unique and growing needs of our customers.”

Using Stibo Systems’ technology and services, Best Buy Canada will drive more accurate and consistent product information into all channels and model complex product bundles such as cell phone packages which often consist of a combination of products, parts, and services. Further, by creating a central repository for its product information, the big-box retailer will support its rapidly growing marketplace and increase its online SKU count while removing the time intensive processes typically associated with manual product on-boarding. In future phases, the system will expand to also manage Best Buy’s store-side data including both supply chain and packaging information.

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Nov-28-2012 01:49 pm

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Tuesday Morning expects to narrow loss in Q4

BY CSA STAFF

DALLAS — Tuesday Morning reported net sales for the fourth quarter ended June 30 of $196.4 million compared with $194.8 million for the quarter ended June 30, 2011, an increase of 0.8%. Comparable-store sales for the quarter ended June 30 increased by 0.2% compared with the same period last year, which was comprised of a 2.7% decrease in traffic and a 2.9% increase in ticket.

For the fiscal year ended June 30, 2012, net sales were $812.8 million compared with $821.1 million for fiscal 2011. Comparable-store sales for the fiscal year ended June 30 decreased 3.1% compared with fiscal 2011.

Based upon the results of the fourth quarter, the company currently expects a loss per share for the fourth quarter of fiscal 2012 to be in the range of 1 cent to 2 cents. Loss per share for the quarter ended June 30, 2011 3 cents. For the fiscal year ended June 30, the company expects diluted earnings per share to be in the range of 12 cents to 13 cents before costs associated with the departure of the CEO compared with 22 cents for fiscal 2011.

Michael Marchetti, president and interim CEO, stated, "We were able to achieve an increase in total sales for the quarter and are well positioned with respect to inventory and cash as we transition into a new era."

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J.C. Penney cuts 350 jobs at headquarters

BY Marianne Wilson

New York — J.C. Penney Co. on Tuesday announced that it is eliminating approximately 350 positions at its headquarters in Plano, Texas, completing a reorganization of its corporate office that it said was designed to create a leaner and more simplified operating structure.

“The actions taken today mark the final phase of those efforts. We have simplified processes, removed unnecessary work and reduced layers to help us make better and faster decisions,” said CEO Ron Johnson. “While difficult, these decisions are in the long-term interests of jcp and our stakeholders.”

The department store chain said the cuts will contribute to its previously announced plan to reduce costs by $900 million annually by the end of 2012, one year ahead of time.

The cuts announced Tuesday follow the company’s move in April to eliminate 600 workers at its headquarters. J.C. Penney now has 3,100 workers at its headquarters, which represents a 29% from the 4,400 employees it had prior to the first round of layoffs this spring, according to the Associated Press.

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