Former TJX CFO Reappointed to Role
Framingham, Mass. The TJX Cos. said Wednesday that Jeffrey Naylor will resume the role of CFO following the current CFO’s resignation.
Naylor will replace Nirmal “Trip” Tripathy, who resigned as CFO to pursue other opportunities, according to the company. Tripathy’s resignation takes effect Jan. 31, the end of the company’s fiscal year.
Naylor has been serving as the company’s chief administrative officer and senior executive VP and will continue in those duties. He previously served as CFO from Jan. 2004 to June 2007, when Tripathy became CFO.
Tuesday Morning suffers 2Q loss
DALLAS Tuesday Morning reported that as previously announced, net sales for the second quarter of fiscal 2009 were $272.7 million compared to $308.7 million for the quarter ended Dec. 31, 2007, a decrease of 11.7%. Comparable-store sales decreased 14.9% for the quarter compared to the same quarter in the prior year.
According to the company, the decrease in comparable-store sales was comprised of a 9.6% decrease in traffic and a 5.3% decrease in average ticket.
Net income for the second quarter was $12.7 million or 31 cents per diluted share, compared to $20.5 million or 50 cents per diluted share during the same quarter last year.
Kathleen Mason, president and CEO, stated, “The December 2008 quarter was reported as the most difficult retail holiday season on record. While consumers remain cautious, we remain focused on preserving our strong balance sheet, managing inventory levels and generating positive cash flow.”
Obama figurine added to Chia product line
SAN FRANCISCO Joseph Enterprises, makers of the Chia Pet line of products, has introduced the Chia Obama, in honor of the 44th U.S. president.
The Special Edition CHIA OBAMA is a handmade decorative figurine in the likeness of President Barack Obama.