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March 5, 2014

Target Corp.’s chief information office, Beth Jacob, is resigning, effective Wednesday, as the retailer continues to deal with the fallout from its widespread data breach.

New York -- Target Corp.’s chief information office, Beth Jacob, is resigning, effective Wednesday, as the retailer continues to deal with the fallout from its widespread data breach. The resignation came as Target said it is overhauling its information security practices.

January 14, 2014

Two U.S. senators have written to Target CEO Gregg Steinhafel seeking "detailed information'' on the data breach that occurred during the holiday shopping season, Reuters reported.

Washington, D.C. -- Two U.S. senators have written to Target CEO Gregg Steinhafel seeking "detailed information'' on the data breach that occurred during the holiday shopping season, Reuters reported.

"We ask that Target's information-security officials provide a briefing to committee staff regarding your company's investigation and latest findings,'' John Rockefeller, chairman of the Senate Commerce Committee, and Claire McCaskill, chair of the Commerce subcommittee on consumer protection, wrote to Steinhafel.

August 21, 2013

Gap Inc. said that Cisco Systems executive Padmasree Warrior will join its board of directors on Sept. 30.

San Francisco -- Gap Inc. said that Cisco Systems executive Padmasree Warrior will join its board of directors on Sept. 30. She will be the company's eleventh director.

Warrior is Cisco Systems Inc.'s chief technology officer and chief strategy officer.

 

July 31, 2013

Private home builder David Weekley Homes has presented Office Depot with its Partners of Choice Award.

Boca Raton, Fla. – Private home builder David Weekley Homes has presented Office Depot with its Partners of Choice Award. The award is presented to companies that receive the highest marks from approximately 600 David Weekley Homes employees from all levels of the organization.

June 26, 2013

Brad Smith, president and CEO of Intuit Inc., has joined the board of directors of Nordstrom.

Seattle – Brad Smith, president and CEO of Intuit Inc., has joined the board of directors of Nordstrom. Smith, who has been with Intuit since 2003, was named president and CEO in 2008. Prior to joining Intuit, Smith held sales, marketing and management roles with companies including ADP, PepsiCo, Seven-Up and Advo. He is also a former director of Yahoo.

February 20, 2013

Electric vehicle charging company Car Charging Group said that former Wal-Mart Stores president and CEO Bill Fields has been appointed to its board of directors.

Miami Beach, Fla. -- Electric vehicle charging company Car Charging Group said Wednesday that former Wal-Mart Stores president and CEO Bill Fields has been appointed to its board of directors.

Retail veteran Fields has also led Blockbuster Entertainment Group as its chairman and CEO and also served in the same capacity at Hudson’s Bay Co.

 

February 7, 2013

There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

New York -- There were few missteps among the discounters in January, as most posted strong results, many surpassing Wall Street expectations.

Target reported a same-store sales rise of 3.1%, topping Wall Street expectations. Total sales surged 29.6% to $5.97 billion in January.

November 29, 2012

Discounters, which are expected to fare well this holiday season, showed mixed results in November.

New York -- Discounters, which are expected to fare well this holiday season, showed mixed results in November. TJX Cos. reported Thursday that November same-store sales climbed 3%, missing Wall Street’s expected 3.6% rise but beating the retailer’s internal expectations.

Target Corp. saw same-store sales fall in November, hurt by weak sales during the first two weeks. Comps dipped 1%, while Wall Street expected a 2.1% gain. Revenue for the month was essentially flat.

August 30, 2012

Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

New York -- Discounters reported strong-than-expected sales for August, fueled by back-to-school shopping, promotions and cooler weather in the Northeast.

Costco Wholesale Corp.'s same-store sales in August rose 6%, beating the 4.5% rise analysts had projected.

Target Corp. reported a 4.2% increase in same-store sales, better than the 3.1% increase that analysts had expected.

August 16, 2012

Wal-Mart Stores reported that net income for the second quarter rose 5.7% to $4.02 billion, compared with $3.8 billion in the year-ago period.

Bentonville, Ark. -- Wal-Mart Stores reported Thursday that net income for the second quarter rose 5.7% to $4.02 billion, compared with $3.8 billion in the year-ago period. Total revenue increased 4.5% to $114.3 billion, but missed Wall Street’s forecasted $115.8 billion in revenue.

Same-store sales in the quarter advanced 2.2%, edging Wall Street expectations but trailing last quarter’s 2.6% same-store sales gain.

August 14, 2012

Fashion retailer Dots announced it has named former Wal-Mart Stores senior VP Lisa Rhodes as its new CEO.

Glenwillow, Ohio -- Fashion retailer Dots announced Tuesday it has named former Wal-Mart Stores senior VP Lisa Rhodes as its new CEO.
   
Rhodes, who led Wal-Mart’s U.S. apparel merchandising division, has been charged with leading Dots’ march toward 1,000 stores, also announced Tuesday.
    
Prior to her role at Wal-Mart, Rhodes was executive VP and chief merchandising officer for Maurice’s.
   

July 3, 2012

Westfield Group said that its Westfield San Francisco Centre has added another celebrated chef to its roster with the opening of La Boulange du Dome by French master baker Pascal Rigo on June 25.

San Francisco -- Westfield Group said that its Westfield San Francisco Centre has added another celebrated chef to its roster with the opening of La Boulange du Dome by French master baker Pascal Rigo on June 25.

June 1, 2012

Wal-Mart Stores is expected to face scrutiny from shareholders at its annual meeting on Friday in the wake of allegations of bribery in Mexico.

New York -- Wal-Mart Stores is expected to face scrutiny from shareholders at its annual meeting on Friday in the wake of allegations of bribery  in Mexico.

The allegations are being investigated by the U.S. Department of Justice, the U.S. Securities and Exchange Commission and government agencies in Mexico. Wal-Mart is also conducting an internal probe.
 

April 25, 2012

Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.

Bentonville, Ark. -- Amidst allegations of involvement in a foreign bribery scandal, Wal-Mart Stores vice chairman Eduardo Castro-Wright has vacated his seat on the board of life insurer MetLife, according to a Tuesday announcement by Wal-Mart.

In a letter to MetLife CEO Steve Kandarian, Castro-Wright said that the recent events at Wal-Mart would require his “immediate and personal attention. Accordingly, I now must focus my energy in spending personal time with my family and in protecting my good name and business reputation.”

March 28, 2012

Wal-Mart Stores chief merchandising officer Duncan MacNaughton said during a CIBC conference that Wal-Mart’s domestic sales momentum has continued over the last two months.

Bentonville, Ark. -- Wal-Mart Stores chief merchandising officer Duncan MacNaughton said during a CIBC conference on Wednesday that Wal-Mart’s domestic sales momentum has continued over the last two months.

The world’s largest retailer registered a same-store sales rise of 1.3% in U.S. stores in the third quarter and a 1.5% increase in the fourth quarter.

Results reversed a nine-quarter streak of same-store sales declines.

According to MacNaughton, the momentum continued in February and March, as well.

February 14, 2012

A report by the Seattle Times said that Eddie Bauer chief Neil Fiske, who joined the retailer in 2007 and led it through bankruptcy, will leave his post effective March 2.

Seattle -- A Tuesday report by the Seattle Times said that Eddie Bauer chief Neil Fiske, who joined the retailer in 2007 and led it through bankruptcy, will leave his post effective March 2.

The company has not given a reason for Fiske’s sudden departure. David Chamberlain, executive chairman, will serve as interim CEO until a permanent replacement is named. Fiske will remain with the company as a consultant to ensure a smooth transition.

February 9, 2012

Urban Outfitters reported that sales for the fourth quarter, ended Jan. 31, rose 9% to $731 million.

Philadelphia -- Urban Outfitters reported Thursday that sales for the fourth quarter, ended Jan. 31, rose 9% to $731 million.

January 27, 2012

Wal-Mart Stores Inc. said Friday it has reorganized reporting relationships, putting its U.S. marketing team under the leadership of the chief merchandising officer.

Bentonville, Ark. -- Wal-Mart Stores Inc. said Friday it has reorganized reporting relationships, putting its U.S. marketing team under the leadership of the chief merchandising officer. Marketing currently operates as a separate group and the move, said Wal-Mart, is designed to improve shopper communication.

The new plan will have U.S. chief marketing officer Stephen Quinn reporting to U.S. chief merchandising officer Duncan Mac Naughton. Before the change, Quinn reported to Bill Simon, Wal-Mart U.S. president and CEO.

January 20, 2012

Wal-Mart Stores announced a series of management changes that include an unexpected change in leadership at Sam’s Club, and a new chief information officer.

Bentonville, Ark. -- Wal-Mart Stores announced a series of management changes that include an unexpected change in leadership at Sam’s Club, and a new chief information officer. The retailer said it has named Rosalind Brewer as president and CEO of Sam's Club. She is the first woman and the first African-American to hold a CEO position at one of the company's business units.

January 17, 2012

Wal-Mart Stores announced that Neil Ashe, 44, is the new president and CEO of the company's global e-commerce business, effective Jan. 16.

Bentonville, Ark. -- Wal-Mart Stores announced that Neil Ashe, 44, is the new president and CEO of the company's global e-commerce business, effective Jan. 16.

Ashe was most recently president of CBS Interactive, where he led all online properties and also drove development of new ways to distribute programming produced by the media giant and its subsidiaries.

Ashe is replacing Eduardo Castro-Wright, who announced his retirement in September and will assist in the transition.

November 15, 2011

Wal-Mart Stores Inc. posted the first quarterly revenue gain in its U.S. namesake business in more than two years, but the discounter's profit was down 2.9%.

Bentonville, Ark. -- Wal-Mart Stores Inc. on Tuesday posted the first quarterly revenue gain in its U.S. namesake business in more than two years, but the discounter's profit was down 2.9%. Profit for the quarter ended Oct. 31 was $3.33 billion, missing Wall Street expectations.

September 27, 2011

Albert Boscov, chairman and CEO of Boscov’s Department Stores, began his retail career at the ripe age of 6 when his father Solomon Boscov, the company’s founder, ‘hired’ him to catch flies in the family-owned store in downtown Reading, Pa. Little Albert didn’t have to travel very far: The store, founded in 1911, was located upstairs in the building where he and his family lived. 


September 27, 2011

Wal-Mart Stores announced that Eduardo Castro-Wright, 56, vice chairman and CEO of the company’s global e-commerce and global sourcing businesses, will retire on July 1, 2012.

New York City -- Wal-Mart Stores announced that Eduardo Castro-Wright, 56, vice chairman and CEO of the company’s global e-commerce and global sourcing businesses, will retire on July 1, 2012.

The company plans to name a replacement by the end of January, after which Castro-Wright will assist in the transition.

September 23, 2011

Apparel designer Yigal Azrouel will open its first freestanding store, for its Cut25 lower-priced, younger collection, in the Soho South area of Manhattan.

New York City -- Apparel designer Yigal Azrouel will open its first freestanding store, for its Cut25 lower-priced, younger collection, in the Soho South area of Manhattan.

Prudential Douglas Elliman’s Retail Group arranged a lease at 129 Grand Street, between Broadway and Crosby Street, for the new store. The opening date hasn’t yet been announced.

 

September 14, 2011

Wal-Mart Stores unveiled a multibillion-dollar women¹s initiative whereby it double the money it spends with women-owned businesses, train women around the world and push major suppliers to use more women and minorities on work they do for the retailer.

Bentonville, Ark. -- Wal-Mart Stores unveiled a multibillion-dollar women¹s initiative whereby it double the money it spends with women-owned businesses, train women around the world and push major suppliers to use more women and minorities on work they do for the retailer. The ambitious program comes three months after the U.S. Supreme Court threw out a massive, class-action gender- bias lawsuit against the retailer.