News

Former Ward’s Chief Named to E-Board

BY CSA STAFF

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.

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News

PriceSmart Narrows Loss for 4Q, Year

BY CSA STAFF

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.

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OPERATIONS

Verizon Calling BJ’s

BY CSA STAFF

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.

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