FINANCE

Zynga names former Best Buy exec as CFO

BY Staff Writer

San Francisco — Zynga Inc. named former Best Buy executive David Lee as CFO, effective April 14, as the online games company and creator of “Farmville” seeks to return to growth. He will replace current CFO Mark Vranesh who has decided to leave the company.

Lee was previously the senior VP of corporate finance, treasury, mergers and acquisitions and corporate strategy at Best Buy.

Vranesh, who joined Zynga in 2008, has held roles of chief financial officer and chief accounting officer. He will work with Lee over the next month before leaving the company.

To regain its financial footing, Zynga has set in motion a turnaround plan, which includes expanded cost savings, led by CEO Don Mattrick.

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FINANCE

Bed, Bath & Beyond earnings fall during Q4

BY Dan Berthiaume

Union, N.J. – Bed, Bath & Beyond met Wall Street expectations with falling net earnings during the fourth quarter of fiscal 2013. Compared to the same period a year earlier, net earnings dropped 11% to $333.3 million, from $373.87 million.

Net sales fell 6% to $3.2 billion, from $3.4 billion. In one bright spot, same-store sales rose 1.7%. Bed, Bath & Beyond attributed some of its net earnings decline to disruptive weather in the fourth quarter.

During the fiscal year, net earnings fell 2% to $1.02 billion, from $1.04 billion, although net sales rose 5.5% to $11.5 billion, from $10.9 billion. Same-store sales increased 2.4%.

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Acellos integrates dispatch tool with location service

BY Dan Berthiaume

Colorado Springs, Colo. – Acellos is integrating its Prophesy Dispatch TMS (transportation management system) productnwith MacroPoint, a service that provides location tracking for brokered loads. The integrated solution provides transportation brokers with a way to automatically track loads including arrival, departure from stops and GPS position updates.

The seamless interface with Prophesy Dispatch automatically passes load info to the MacroPoint site to eliminate the need for re-entry. The system then automatically brings load data back into Prophesy Dispatch including arrival, departure and GPS position data. Check calls are automatically created in dispatch and load ETA’s are automatically updated. The actual route the driver is taking can also be mapped in the Prophesy Dispatch software.

“We are pleased to announce this powerful capability for our brokerage users, said Prophesy senior VP and general manager William Ashburn. “The unique technology provided by MacroPoint allows brokers complete visibility of the loads they have contracted out, providing both real-time accuracy and the ability to address issues as they occur.”

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