Former Ward’s Chief Named to E-Board
Secaucus, N.J., Former Montgomery Ward CEO Bernie Brennan has joined the board of eFashion Solutions, an on-line retailer for celebrity and luxury fashion brands such as Phatfarm.com and Babyphat.com, as well as Shopjlo.com by Jennifer Lopez.
PriceSmart Narrows Loss for 4Q, Year
San Diego, PriceSmart Inc. narrowed its operating loss from $3.1 million to $465,000 in its in its fourth quarter ended Aug. 31. Net sales grew 18.6% to $155.4 million.
For the fiscal year, PriceSmart recorded an operating loss of $5.3 million, vs. a $6.7 million loss the previous year. Net revenues grew 13.7% to $618.8 million for the fiscal year.
The warehouse club retailer also announced the opening of its fourth location in Costa Rica, and the acquisition of a Panama City commercial center that already houses a PriceSmart club, plus additional commercial property that the merchant plans to develop.
Verizon Calling BJ’s
Bedminster, N.J., Verizon Wireless has announced a deal with BJ’s Wholesale Clubs Inc. to install Verizon shops in more than 128 BJ’s locations. The in-store shops will sell phones, accessories and a variety of service plans and also accept bill payments. Verizon will be responsible for the operation and maintenance of the kiosks.