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Tuesday Morning Corp. has ushered out its current CEO and is on the hunt for a new one, the discount retailer said Wednesday. It also announced several other management changes and lowered its guidance, which sent its shares plunging in after-hours trading.The company said that it relieved Kathleen Mason of her duties as president and CEO on Tuesday. She was appointed to the post in 2000.Michael Marchetti, 55, who is its executive vice president and chief operating officer, was promoted to president and chief operating officer. He will also serve as interim CEO.

PLANO, Texas — JCPenney has announced several promotions and additions to its merchandising, operations and investor relations areas. “We’re rethinking every element of the retail business and there's no better way to re-imagine the possibilities than to tap the proven abilities of our own extraordinary talent along with the fresh perspectives offered by industry experts new to our organization,” said CEO Ron Johnson. In the operations area, Bob Peterson has been appointed to SVP operational strategy, and will be responsible for identifying and evaluating key business opportunities and strategic alliances. He was previously with Piper Jaffray. Thorsten Weber has

Best Buy continued its management upheaval Thursday as its founder, Richard Schulze, said he would leave the board earlier than expected.Schulze, who started the company more than 40 years ago, also said he was looking at ways to sell his 20.1 percent stake in the retailer, worth about $1.3 billion.It is the latest personnel retreat for the retailer stemming from the abrupt resignation of the former chief executive, Brian J. Dunn, in April. Last month, the board reported that Dunn had had an inappropriate relationship with a female employee. An internal investigation revealed that Schulze had known about the

Birmingham, Ala. -- Hibbett Sports announced that Scott J. Bowman has joined the company as senior VP and CFO effective July 9. He will replace Gary Smith, whose retirement is effective July 8, 2012. Bowman was most recently division chief financial officer – Northern Division for The Home Depot, a position he has held since 2

The average person will spend $117.14 on dad’s gifts this year, up 10% from $106.49 last year, closing the gap between its biggest competitor: Mother’s Day (consumers planned to spend an average of $152 on the holiday), according to the National Retail Federation’s 2012 Father’s Day spending survey, conducted by BIGinsight. Total spending for Father’s Day is expected to reach $12.7 billion. According to the survey, more people this year will treat dad to a special outing, such as golfing, eating out or heading to a sporting event ($2.3 billion versus $2.0 billion in 2011). 

Puget Sound Business Journal Online shoe retailer Zappos.com, which was bought by Amazon.com Inc. in 2009 and is the largest employer in Bullitt County, Ky., will officially be known as Amazon in Kentucky. The Louisville, Ky., Courier-Journal reports Zappos is making the move on Sept. 1 to take advantage of parent Amazon's (NASDAQ: AMZN) massive warehouse distribution capability, instead of building additional warehouse space on its own. No employees are expected to lose jobs with the name change. See all your followed company news on your personalized dashboard. To access the full benefits of bizWatch and receive a weekly

E-Commerce is taking a bigger portion of overall retail sales in the United States, according to the U.S. Department of Commerce. Consumers spent more than $194 billion online in 2011. With this kind of spending, it's not surprising to see more small businesses moving some, or all, operations online.

By the summer 2012, Best Buy Canada will start rolling out mobile point-of-sale (POS) in select Future Shop and Best Buy pilot store locations. Implemented on the service oriented architecture (SOA)-based Stella Nova Mobile Retail Framework, the new mobile POS solution is architected to keep POS functionality independent of the mobile device and its operating system. This will enable the company to adapt seamlessly to future shifts in mobility trends and technology.

San Antonio Business Journal by , Web Editor Related: Retailing & Restaurants Web Editor- San Antonio Business Journal Best Buy Co. founder Richard Schulze has resigned from the company he started 36 years ago and plans to sell his ownership stake in the electronics and appliance chain, PC Magazine reported. The board of directors planned to strip Schulze’s chairman title from the company in the wake of a scandal involving then-CEO Brian J. Dunn. Schulze planned to stay on board with the company as chairman emeritus and a director, but instead is leaving the company. Schulze owns 20 percent

American Apparel has announced the opening of two new shop-in-shop locations inside two Myer department stores in Sydney and Melbourne, Australia. "We're excited to be serving more customers in Sydney and Melbourne face to face via the largest department store in Australia. With these openings, American Apparel is nearly doubling its store base in the country and doing it efficiently with a great and respected partner," said Marsha Brady, a creative director for American Apparel.