FINANCE

Orchard Supply loss widens in Q4

BY Katherine Boccaccio

San Jose, Calif. — Orchard Supply Hardware Stores Corp. reported Monday a loss of $33.6 million for the quarter ended Feb. 2, widened from a loss of $7.3 million in the year-ago period.

Sales for the quarter rose to $153 million from $141.6 million, and same-store sales edged up 1.6%.

For the full year, the company lost $118.4 million, compared with a loss of $14.5 million in the prior year. Sales dipped to $657.3 million, compared to $660.5 million for fiscal 2011.

“The past year was one of significant progress in our ongoing efforts to reposition the Orchard brand and execute our strategic priorities,” said Mark Baker, president and CEO. “We are continuing to work productively with our lenders to reach an agreement that will address our capital structure and allow us to build a stronger platform from which we can deliver improved results.”

Orchard said it continues to expect to open at least four new stores and to remodel at least six existing locations this year.

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OPERATIONS

Jones Group nominates Barington Capital chief to board

BY Katherine Boccaccio

New York — The Jones Group Inc. said Monday that it has nominated James Mitarotonda, chairman and CEO of Barington Capital Group, to its board of directors, expanding the board to 11 members.

Barington has about a 2.3% stake in Jones Group.

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FINANCE

Town Shoes teams with Jesta I.S. on e-commerce solution

BY Katherine Boccaccio

Montreal — Jesta I.S. said Monday it has expanded its relationship with Canadian shoe store operator Town Shoes, parent to the Sterling Shoes, Shoe Warehouse and Freedman Shoes banners, to include the implementation of the multichannel order management capabilities delivered by Vision E-DOM.

In deciding to implement Jesta I.S., Town Shoes will further leverage its existing IT infrastructure, at the backbone of which are Vision’s foundational Merchandising ERP and POS systems.

“We were looking for a fully integrated and dynamic multi-channel order management solution to efficiently fulfill our web orders by drawing from our in-store inventory,” said Peter Gerhardt, CFO, Town Shoes.

The implementation of Vision E-DOM will improve Town Shoes’ web order fulfillment and shipment time matrices to increase customer loyalty, added Gerhardt.

Town Shoes required a multichannel order fulfillment solution that would seamlessly leverage a common pool of inventory for both online and brick and mortar channels. Vision E-DOM reduces shipping times by executing orders from store locations closest to the customer while providing real-time visibility and tracking to both Town Shoes and their customers.

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