News

Yahoo Mail attacked by hackers

BY Dan Berthiaume

Sunnyvale, Calif. – Yahoo recently identified a coordinated effort to gain unauthorized access to Yahoo Mail accounts. In a Tumblr blog post signed by Jay Rossiter, senior VP, Platforms and Personalization Products of Yahoo, the company said that upon discovery, it took immediate action to protect users, prompting them to reset passwords on impacted accounts.

According to Yahoo’s current findings, the list of usernames and passwords that were used to execute the attack was likely collected from a third-party database compromise. Yahoo said it has no evidence that they were obtained directly from Yahoo’s systems. An ongoing Yahoo investigation shows that malicious computer software used the list of usernames and passwords to access Yahoo Mail accounts. The information sought in the attack seems to be names and email addresses from the affected accounts’ most recent sent emails.

Yahoo has taken steps to protect users including resetting passwords on impacted accounts, working with federal law enforcement to find and prosecute the perpetrators responsible for this attack, and implementing additional measures to block attacks against Yahoo’s systems.

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FINANCE

Tuesday Morning swings net loss to profit

BY Dan Berthiaume

Dallas – Tuesday Morning reported net income for the second quarter of fiscal 2014 of $17.7 million, compared to a net loss of $21.5 million in the same period last year. The company’s net sales were $285.8 million, essentially flat with $285.3 million for the second quarter of fiscal 2013.

Net sales for the second quarter of fiscal 2013 included the contribution of 24 more stores, as well as e-commerce sales. Same-store sales increased by 3.1% compared to the second quarter of fiscal 2013 and were comprised of a 7% increase in customer transactions, partially offset by a 3.9% decrease in average ticket.

“During the second quarter, our experienced team executed a disciplined program aimed at improving operations, enhancing merchandising and strengthening the Tuesday Morning offering to our value-oriented consumer,” said Michael Rouleau, CEO of Tuesday Morning. “Our progress to date includes improved customer service in well-stocked stores displaying fresh, new merchandise at great values, all of which yielded solid comparable store sales results, increased inventory turnover, and a strong cash position. We are pleased with our progress and results this quarter and are confident we will demonstrate continued improvement in the second half of our fiscal 2014, yet remain focused on the significant work ahead necessary to complete our business turnaround program."

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FINANCE

Wayfair reports $915 million revenue for 2013

BY Dan Berthiaume

Boston – Wayfair reported $915 million in revenue to close the year 2013, with an annual revenue growth rate of 55% and order intake exceeding $1 billion. The company said its portfolio of home brands experienced steady growth throughout 2013 capped off by strong holiday sales in the fourth quarter.

"We were expecting impressive sales growth in 2013 and are pleased to see our model is working to drive increased brand awareness, customer acquisition and retention," said Niraj Shah, CEO and co-founder of Wayfair. "We are focused on delivering an exceptional shopping experience specifically geared to home goods and will continue to address the unique requirements of this market category with innovation across all aspects of our business."

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