Masterfoods to Become Mars Again
New York City, Masterfoods North America dropped its name after five years and is called, once again, Mars. The initial name change to Masterfoods from Mars, Incorporated intended to leverage the company’s $18 billion in disparate businesses under a single umbrella brand, AdAge.com reported. Mars changed its corporate name to Masterfoods North America and began centralizing its three top divisions, but now it plans to decentralize its divisions. However, the consumer will probably not notice the move from Masterfoods, except in packaging, AdAge.com said.
Gottschalks Reports Net Loss in Q1
Fresno, Calif., Gottschalks Inc. reported a net loss for the first quarter of $4.0 million, compared to a net loss of $2.0 million for the same quarter the year before. Comp-store sales decreased 0.5% for the quarter, while total sales decreased slightly by 0.4% to $143.5 million, from $144.1 million for the same quarter last year.
Toys ‘R’ Us Ends Partnership With Amazon.com
Seattle, Toys “R” Us ended its partnership with Amazon.com and signed a long-term agreement with GSI Commerce to power its site, The Seattle Times reported. After a two-year long battle over contract terms, the toy retailer won the right to break its 10-year agreement with Amazon. Although the ruling put into motion a separation agreement between the companies that would remove the Toys “R” Us selection from Amazon.com by July 1, Amazon appealed the decision in April, saying it wants to reinstate the partnership, the report said. The reports also said that if Amazon doesn’t succeed in court, its operating profit could be reduced by as much as $25 million in the current quarter and $50 million for the fiscal year, due to the loss of the contract.