Multichannel home furnishings merchant Design Within Reach Inc. has notified the NASDAQ Stock Market of its intent to voluntarily delist its common stock from NASDAQ. While the company reports that it has not received a formal notice from NASDAQ that it has failed to comply with listing standards, Design Within Reach said in a statement that it has struggled to maintain compliance with NASDAQ's minimum required bid price of $1 per share.

Ken Hicks is leaving his position as president and chief merchandising officer at JC Penney Co. Inc. to become president and CEO at specialty retailer Foot Locker Inc. JC Penney said Hicks, who has held his position there since 2005, will serve his last day on July 6. Myron Ullman, chairman and CEO, will assume Hicks' responsibilities while an executive search is being conducted. Hicks will also resign his position on the JC Penney board of directors.

Dress Barn Inc. and Tween Brands Inc. have entered into a definitive merger agreement. In the stock-for-stock transaction, a subsidiary of Dress Barn will merge with Tween Brands. Each share of the latter's common stock will be exchanged for 0.47 shares of Dress Barn common stock, representing an equity value of approximately $157 million based on June 24 closing stock prices for both companies. Upon closing of the transaction, Tween Brands stockholders are expected to own approximately 16% of Dress Barn.

Digital River Inc. has introduced a new e-commerce platform designed to optimize the online sales of limited-edition and clearance merchandise for manufacturers. "Companies are looking for additional sources of revenue," said Matt Voda, group VP and product manager at Digital River. As a result, the traditional scenario that saw manufacturers liquidating left over inventory through a third-party isn't as appealing as it once was.

Customer acquisition agency SendTec Inc. recently filed a Chap. 11 petition voluntarily in the US Bankruptcy Court. Concurrent with the filing, the court has received an offer led by management and a group of outside investment firms to purchase assets and continue operations in a new company.

Playboy.com Inc. has filed a lawsuit against e-commerce and catalog service provider eFashion Solutions LLC, in the US District Court for the Northern District of Illinois, claiming breach of contract. Playboy claims eFashion's moves will irreparably harm the company and force it to shut down its e-commerce and catalog businesses. These businesses generated nearly $17 million in annual revenue before eFashion took them over and have been reduced to approximately $4 million to $5 million under eFashion's operations, according to Playboy's filing.

TruMedia Networks is launching TruFan today, a social media platform for sports fans built around local fan communities in 122 markets where a major professional sports team is located. The platform was designed to allow fans to post, share, vote on and aggregate timely, local sports media content in a fashion similar to what is done on Digg or Yahoo Buzz.

Multichannel merchant Redcats USA has appointed Jay Berlin as CEO of catalog and Internet brand The Sportsman's Guide. Berlin previously held marketing management roles with Fingerhut and C.O.M.B. Corp., and was SVP of catalog and e-commerce business lines for Northern Tool & Equipment.

The battle over behavioral targeting legislation continued Thursday when members of the House Energy and Commerce Subcommittee on Communications, Technology, and the Internet met with the Commerce, Trade, and Consumer Protection Subcommittee.

Retailers Spiegel Brands and Eddie Bauer, which each faced financial difficulties several years ago when they were under the same ownership, are in the news again this week with financial troubles and new suitors. Private equity firm Patriarch Partners LLC has acquired substantially all the operating assets of Spiegel Brands Inc. through a newly formed company called Signature Styles LLC.