Chain Store Age Executive Fax articles from June 2005

Chain Store Age Executive Fax archives from June 2005

New stores, new markets.(Bass Pro Shops Inc., Party America, Whole Foods Market Inc.)(Brief Article)
June 24, 2005... Whole Foods Market will open a 58,000-sq.-ft. store this winter at Belmar in Lakewood, Colo. Also scheduled to open in the development are Southwestern apparel and pottery retailer Santa Fe North, Kamala gift shop and mattress retailer Select...

Toys 'R' Us investors approve sale, bid adieu to public listing and CEO.(Brief Article)
June 24, 2005... Toys "R" Us Inc. shareholders approved a $6.6 billion buyout that will end the toy seller's 27-year stretch as a public company. The buyout was approved by almost 98% of the shares that were voted. Stockholders stand to receive $26.75 a share...

Winn-Dixie to dump 326 stores, lay off 22,000.
June 24, 2005... Winn-Dixie Stores Inc. announced a turnaround plan that hinges upon the elimination of 326 of its 913 supermarkets in the United States and the Bahamas, and a work-force reduction of 28%, or 22,000 employees. The retailer said the effort is...

Hackers spark credit-card security scare.(Brief Article)
June 24, 2005... MasterCard announced last Friday that hackers had compromised the security of 40 million credit cards by breaking into the systems of Atlanta-based payment processor CardSystems Solutions. Of those 40 million cards, 13.9 million were branded...

SuperValu Inc.(PEOPLE IN THE NEWS)(appointed Mike Jackson as president and Chief operating officer)(Brief Article)
June 24, 2005... The board of directors of SuperValu Inc. has elected Mike Jackson president and COO. Jackson most recently served SuperValu as executive VP and president of distribution food companies. The board also elected Jim Stoffel treasurer, promoting...

Abercrombie & Fitch.(PEOPLE IN THE NEWS)(elected Daniel J. Brestle to board of directors)(Brief Article)
June 24, 2005... Abercrombie & Fitch has elected Daniel J. Brestle to its board of directors. Brestle currently serves as COO of The Estee Lauder Cos.

Jos. A. Bank Clothiers Inc.(PEOPLE IN THE NEWS)(Promotions)(Brief Article)
June 24, 2005... Jos. A. Bank Clothiers Inc. promoted two divisional VPs in its store-operations team to the position of VP of stores. Anne Bryan will become VP of stores for Jos. A. Bank's Southeast division, while Carol Moore will take responsibility for...

7-Eleven.(PEOPLE IN THE NEWS)(Appointments)(Brief Article)
June 24, 2005... C-store operator 7-Eleven has named Alan Beach VP of field merchandising and Doug Foster Vice President of marketing.

Movie Gallery.(PEOPLE IN THE NEWS)(appointed Timothy R. Price as executive vice president and Chief financial officers)(Brief Article)
June 24, 2005... Movie Gallery announced the appointment of Timothy R. Price as executive VP and CFO. Price previously held the same posts at Hollywood Entertainment, which Movie Gallery acquired earlier this year for $1.2 billion.

Circuit City Stores Inc.(PEOPLE IN THE NEWS)(appointed Reginald D. Hedgebeth as senior vice president and general counsel )(Brief Article)
June 24, 2005... Circuit City Stores Inc. said that Reginald D. Hedgebeth will become the company's senior VP and general counsel effective July 11. He joins the company from The Home Depot, where he served as VP, legal.

The J. Jill Group.(PEOPLE IN THE NEWS)(promoted Olga L. Conley to chief administrative officer)(Brief Article)
June 24, 2005... The J. Jill Group announced that Olga L. Conley, executive VP/CFO, has been promoted to the additional role of chief administrative officer.

Gymboree.(PEOPLE IN THE NEWS)(appointed Matt McCauley as president)(Brief Article)
June 24, 2005... Gymboree has named Matt McCauley as president. He was formerly the retailer's senior VP and general manager.

Home Depot may buy its way into China.(Brief Article)
June 24, 2005... The Home Depot is seeking to buy a stake in China's Orient Home home improvement chain in order to gain a foothold in that country's fast-growing market, according to a report in the China Business News. Citing unidentified sources, the...

Lawsuit targets banks over interchange fees.(Brief Article)
June 24, 2005... When it comes to credit-card fees, complaints are giving way to action. Minneapolis-based law firm Robins, Kaplan, Miller & Ciresi on behalf of a group of small merchants filed an antitrust class-action lawsuit in U.S. District court in...

CVS security concern shuts Web store.(Brief Article)
June 24, 2005... CVS Corp. took its Web store off line after discovering a security hole that exposed the purchase information of thousands of members of CVS' ExtraCare loyalty program. The hole was discovered by consumer-advocacy group Consumers Against...

This week's retail news nuggets.(Brief Article)
June 24, 2005... Wal-Mart Stores debunked reports that it would phase out sales of VHS video tapes, insisting that it will continue to offer the tapes as long as demand exists.... Giant Eagle opened a new concept store this Thursday in Pittsburgh. The...

New stores, new markets.(Brief Article)
June 17, 2005... Specialty supermarket operator Trader Joe's is planning to build its first New York City store in Manhattan's Union Square, near the city's newest Whole Foods Market location. The 15,000-sq.-ft. store is scheduled to open in November.... EB...

Another delay for Saks' Q1 filing leads to more fiscal scrutiny.(first quarter)(Brief Article)
June 17, 2005... Saks, Inc. said it will delay the filing of its first-quarter earnings report as the retailer continues to explore accounting irregularities related to supplier markdown allowances and chargebacks at its Saks Fifth Avenue division. This is...

Walgreens looks to expand mail-order Rx.(Brief Article)
June 17, 2005... Earlier this year, General Motors moved to mandate mail-order Rx programs and said it would drop Walgreen Co. as a pharmaceutical provider for GM employees. The retailer's response: boost the Walgreens mail-order business. According to The...

Pathmark's Yucaipa deal prompts lawsuit.(Pathmark Stores Inc., Yucaipa Capital Partners L.P.)(Brief Article)
June 17, 2005... Yucaipa Partners took over a large share of Pathmark this week, and it didn't take long for lawyers to launch a shareholder class action in protest. A complaint filed yesterday alleged the proxy solicitation was misleading because it failed...

Wal-Mart Stores.(appointments)(Brief Article)
June 17, 2005... Wal-Mart Stores named Carter Cast president of Walmart.com, effective July 5. Cast replaces John Fleming, who in April was promoted to VP and chief marketing officer for Wal-Mart.

The Bombay Co. has named Paul Higham to its board of directors.(Brief Article)
June 17, 2005... The Bombay Co. has named Paul Higham to its board of directors. He is a retired chief marketing officer of Wal-Mart Stores Inc.

Safeway Inc. has named John A. Lewis to the newly created position of senior VP, internal audit.(vice president)(Brief Article)
June 17, 2005... Safeway Inc. has named John A. Lewis to the newly created position of senior VP, internal audit. He joins the grocer from Wal-Mart Stores Inc., where he served as senior VP and CFO of Wal-Mart International.

West Marine Inc.(resignations and appointments)(Brief Article)
June 17, 2005... West Marine Inc. president and COO Richard Everett is stepping down from his post to pursue other interests. Everett, a West Marine 25-year veteran, is also resigning from the board, but will remain with the company throughout the transition...

Whole Foods Market.(appointments)(Brief Article)
June 17, 2005... Whole Foods Market announced that Hass Hassan will join the company's board, increasing its size from seven to eight directors....

Apparel retailer Too Inc., which operates Limited Too and Justice, named Poe A. Timmons as CFO and senior VP.(chief financial officer, vice president)(Brief Article)
June 17, 2005... Apparel retailer Too Inc., which operates Limited Too and Justice, named Poe A. Timmons as CFO and senior VP. Timmons was previously VP of finance for Safelite Group Inc....

Foot Locker Inc. named Keith Daly, president and CEO of its Lady Foot Locker division, as president and CEO of its Foot Locker Europe division.(Chief executive officer)(Brief Article)
June 17, 2005... Foot Locker Inc. named Keith Daly, president and CEO of its Lady Foot Locker division, as president and CEO of its Foot Locker Europe division. Maria Anderson will replace Daly at Lady Foot Locker, effective immediately....

Closeout retailer Big Lots selected Steven S. Fishman as the company's chairman, CEO and president.(chief executive officer)(Brief Article)
June 17, 2005... Closeout retailer Big Lots selected Steven S. Fishman as the company's chairman, CEO and president. He replaces CEO Michael J. Potter, who resigned.

The Pantry grows by acquisition, again.
June 17, 2005... Pantry Inc. said it has agreed to acquire 23 convenience stores in Virginia from Angus I. Hines Inc., which has been operating under the Sentry Food Mart banner. The 23 stores generated revenues of about $122 million last year and will add to...

BJ's settles with FTC over customer data flap.(B J's Wholesale Club Inc., Federal Trade Commission)(Brief Article)
June 17, 2005... BJ's Wholesale Club continues to point out that it doesn't know for sure if its systems were breached in early 2004, leading to misuse of customer credit-card information. But one thing is for sure, the Natick, Mass.-based retailer has...

OfficeMax points to formal SEC investigation.(Securities and Exchange Commission)(Brief Article)
June 17, 2005... It's official. OfficeMax is under investigation by the Securities and Exchange Commission (SEC), according to the Itasca, Ill.-based office-supplies retailer. The company said the investigation is related to the company's internal probe of...

This week's retail news nuggets.(Brief Article)(Obituary)
June 17, 2005... Former Publix Super Markets chairman Charles Jenkins Sr., one of the pioneering brothers of the Lakeland, Fla.-based grocery chain, died early Tuesday. He was 90.... A labor court in Germany has ruled that parts of Wal-Mart's ethics code,...

New stores, new markets.
June 10, 2005... The Epicenter Collection will open an 18,000-sq.-ft. store at Polaris Fashion Place in Columbus, Ohio, kicking off its plan to open 100 U.S. stores. The showroom concept allows customers to browse e-tailers' products and place orders through...

Sears lays off 1,400 Kmart staffers following weak first quarter.(Brief Article)
June 10, 2005... It was a less-than-stellar first quarter for Sears Holding Corp.; the retailer newly formed from the combination of Kmart Corp. and Sears, Roebuck and Co. posted a quarterly net loss of $9 million. The retailer's figures were complicated by a...

Neiman Marcus sells credit unit for $640m.(Brief Article)
June 10, 2005... Dallas-based Neiman Marcus agreed to sell the private-label credit-card portfolios of its flagship brand and Bergdorf Goodman to HSBC Retail Services. The portfolios contain about 3 million accounts. In addition to the $640 million purchase...

Ohio sues DSW over consumer data breach.(Designer Shoe Warehouse)
June 10, 2005... Ohio authorities filed suit Monday against Designer Shoe Warehouse (DSW), nearly three months after the theft of credit and banking information of 1.4 million DSW customers. The lawsuit by state Attorney General Jim Petro seeks to force the...

Foot Locker Inc. named Keith Daly, president and CEO of its Lady Foot Locker division, as president and CEO of Foot Locker Europe.(PEOPLE IN THE NEWS)(Keith Daly appointed and Maria Anderson retires)(Brief Article)
June 10, 2005... Foot Locker Inc. named Keith Daly, president and CEO of its Lady Foot Locker division, as president and CEO of Foot Locker Europe. Maria Anderson will replace Daly at Lady Foot Locker....

Too Inc.(PEOPLE IN THE NEWS)(Poe A. Timmons appointed)(Brief Article)
June 10, 2005... Too Inc. named Poe A. Timmons as CFO and senior VP. Timmons previously was VP of finance for Safelite....

Bon-Ton Stores Inc.(PEOPLE IN THE NEWS)(Keith Plowman appointed)(Brief Article)
June 10, 2005... Bon-Ton Stores Inc. has named Keith Plowman as CFO, succeeding James Baireuther, who retains his posts as vice chairman and chief administrative officer. Plowman joined the retailer in 1997 as divisional VP/controller, and has held finance...

Lowe's Cos.(PEOPLE IN THE NEWS)(Doug Robinson appointed at Lowe's Companies Inc.)(Brief Article)
June 10, 2005... Lowe's Cos. has named Doug Robinson president of its Canadian operations to lead its expansion into the Toronto area....

Gateway Inc.(PEOPLE IN THE NEWS)(Neal West appointed and Rod Sherwood retires)(Brief Article)
June 10, 2005... Gateway Inc. CFO and senior VP, Rod Sherwood, will retire later this year. Sherwood joined Gateway in 2002 and plans to stay on to help find a replacement. He previously held positions at Loudcloud Inc. (now Opsware Inc.) and Chrysler....

Guitar Center, Inc. has appointed David Angress to the newly created post of executive VP, international development and proprietary brands.(PEOPLE IN THE NEWS)
June 10, 2005... Guitar Center, Inc. has appointed David Angress to the newly created post of executive VP, international development and proprietary brands. Jay Wanamaker has been named executive VP/general merchandise manager, replacing Angress....

1-800-Flowers.com.(PEOPLE IN THE NEWS)(Deven Sharma appointed)(Brief Article)
June 10, 2005... 1-800-Flowers.com has appointed Deven Sharma to its board of directors, replacing Mary Lou Quinlan on the firm's audit committee....

J.Crew Group.(PEOPLE IN THE NEWS)(Amanda Bokman appointed)(Brief Article)
June 10, 2005... Amanda Bokman has resigned from the post of executive VP and CFO of J.Crew Group.

Wal-Mart rallies investors at annual meeting.(Brief Article)
June 10, 2005... At Wal-Mart's investors meeting this week, CFO Tom Schoewe encouraged shareholders to stay the course and assured them that Wal-Mart's stock price will recover. Investors have expressed dismay that Wal-Mart's stock price has fallen 20% from...

Best Buy, CompUSA test new formats.(Brief Article)
June 10, 2005... Best Buy has introduced a new store-within-a-store concept. Best Buy for Business, opened in the retailer's Annapolis, Md.; Fairfax, Va.; and Woodbridge, Va., stores. The new format is aimed at small businesses with up to 20 employees. The...

This week's retail news nuggets.
June 10, 2005... Wal-Mart's Asda will buy 12 former Safeway stores from Wm. Morrison PLC., acquire running-shoe-maker Saucony for approximately $170 million in cash.... Brown Shoe Co. will close 80 underperforming stores and open 30 outlet stores in an effort...

New stores, new markets.(Brief Article)
June 3, 2005... Office Depot has opened its 1,000th North American store in Countryside, Ill., which also marks the office-supply retailer's 45th Illinois store.... Tiffany & Co. will open a new store in Atlantic City, N.J., in 2006. The approximately...

ICSC sales index improves to 2.9%; drug stores lead the charge.(International Council of Shopping Centers)(Illustration)
June 3, 2005... Chain store sales increased 2.9% in May, according to the International Council of Shopping Centers' (ICSC's) tally of major retail chains. Retail sales performance in May improved from the previous month's growth of 2.2%. Two-thirds (66%) of...

Marsh Supermarkets.(PEOPLE IN THE NEWS)(promoted Mark A. Varner to chief financial officer)(Brief Article)
June 3, 2005... Marsh Supermarkets' CFO, Douglas W. Dougherty, retired as of May 28 and has been replaced on an interim basis by Mark A. Varner, the company's VP and corporate controller.

BJ's Wholesale Club.(PEOPLE IN THE NEWS)(appointed Paul McDonough as chief financial officers)(Brief Article)
June 3, 2005... BJ's Wholesale Club has named Paul McDonough as CFO, replacing Frank Forward, who moves into the new position of chief administration officer. McDonough joined the company last year.

Family Dollar Stores.(retirement)(Brief Article)
June 3, 2005... George R. Mahoney Jr. has retired from Family Dollar Stores as executive VP, general counsel and secretary. The company has promoted Barry Sullivan to senior VP, store operations, and Michael Vickers to VP, store operations. Bruce Barkus,...

Payless ShoeSource CEO Steve Douglass will leave the company in July, following a transition of leadership to Matthew Rubel, who will take over the top spot.(PEOPLE IN THE NEWS)(Brief Article)
June 3, 2005... Payless ShoeSource CEO Steve Douglass will leave the company in July, following a transition of leadership to Matthew Rubel, who will take over the top spot. Rubel had been chairman and CEO of Cole Haan, a wholly owned subsidiary of Nike...

Lowe's Cos., Inc.(PEOPLE IN THE NEWS)(promoted Larry D. Stone to senior vice president of merchandising/ marketing)(Brief Article)
June 3, 2005... Dale C. Pond, Lowe's Cos., Inc. senior VP of merchandising/ marketing, plans to retire, effective June 30. He will be replaced by 36-year Lowe's veteran Larry D. Stone, who is currently senior executive VP of operations.

Gottschalks Inc. has appointed Philip S. Schlein to the company's board.(PEOPLE IN THE NEWS)(Brief Article)
June 3, 2005... Gottschalks Inc. has appointed Philip S. Schlein to the company's board. Schlein previously served as president and CEO of Macy's California, and has been a partner of U.S. Venture Partners, a venture capital firm, since 1985.

Stores within stores: new fuel for old trend.(Brief Article)
June 3, 2005... The store-within-a-store concept has found new momentum. Natural and organic foods retailer Wild Oats Markets has opened its first store-within-a-store boutique inside a remodeled Stop & Shop in Plymouth, Mass. The 1,100-sq.-ft. holistic...

Federated to sell credit-card portfolios.(Brief Article)
June 3, 2005... Another major chain sold its credit-card business. Federated Department Stores agreed to sell its proprietary and co-branded Visa credit-card portfolio to Citigroup in a deal expected to produce after-tax proceeds of $4.5 billion for...

Wal-Mart earns praise, faces renewed attacks.(Brief Article)
June 3, 2005... In the same week that Wal-Mart Stores was being attacked and criticized for its employee health benefits and treatment of women, the world's largest retailer was named one of the top 10 corporations by the Hispanic Association on Corporate...

This week's retail news nuggets.(Brief Article)
June 3, 2005... The Pep Boys will hold grand-reopening festivities for 46 remodeled stores in its hometown of Philadelphia on June 4. Pep Boys plans to have all 593 of its stores remodeled by 2007.... The Bombay Co. has sold Bailey Street Trading Co., a...