Content about chairman , president and CEO

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.

October 23, 2013

Starbucks Corp. unveiled its newest retail format, Teavana Fine Teas + Tea Bar, with the first location opening on the Upper East Side of Manhattan.

New York -- Starbucks Corp. unveiled its newest retail format, Teavana Fine Teas + Tea Bar, with the first location opening on the Upper East Side of Manhattan. Starbucks purchased the 300-store Teavana Holdings last year as part of its ongoing efforts to diversify and push beyond its signature beverage.  
  

May 20, 2013

Bruce G. Bodaken, former chairman, president and CEO of Blue Shield California, been named to the Rite Aid Corporation board of directors.

CAMP HILL, Pa. — Bruce G. Bodaken, former chairman, president and CEO of Blue Shield California, been named to the Rite Aid Corporation board of directors. Bodaken, 61, served with Blue Shield for 18 years, including 12 in his most recent role, and currently serves as director and audit committee chairman of WageWorks, Inc. He is also a member of the Institute of Medicine’s Roundtable on Value & Science-Driven Health Care.

April 26, 2013

Supervalu has elected Rite Aid chairman, president and CEO John Standley and Cerberus COO and general counsel Mark A. Neporent to its board of directors.


Minneapolis — Supervalu has elected Rite Aid chairman, president and CEO John Standley and Cerberus COO and general counsel Mark A. Neporent to its board of directors.


Standley has spent the past 20 years in executive leadership roles in the grocery and pharmacy retail business. He became Rite Aid Corporation’s president and COO in September 2008, was appointed to the Rite Aid board of directors in 2009 and was named CEO in June 2010. He was elected chairman of Rite Aid’s board of directors in June 2012.

January 25, 2013

The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 “Father of the Year” Award.

New York -- The National Father’s Day Council, a nonprofit that recognizes modern day role model fathers, has named Terry Lundgren, chairman, president and CEO of Macy’s Inc., as a recipient of its 2013 “Father of the Year” Award.

Lundgren joins President Bill Clinton, founder of the William J. Clinton Foundation and 42nd President of the United States, as a fellow honoree. The awards will be presented at the 72nd Annual Father of the Year Awards in New York City on June 11.

January 8, 2013

Procter & Gamble named Macy’s chairman, president and CEO Terry Lundgren as the newest member of its board of directors.

New York  -- Procter & Gamble named Macy’s chairman, president and CEO Terry Lundgren as the newest member of its board of directors.

Lundgren fills a position vacated by current P&G director Johnathan Rodgers who is not seeking re-election when P&G’s holds its annual shareholder meeting in October.

November 15, 2012

Starbucks Coffee Co. announced it will acquire specialty tea chain Teavana Holdings for $620 million in a move to gain traction in the $40 billion global tea industry.

Seattle -- Starbucks Coffee Co. announced Wednesday it will acquire specialty tea chain Teavana Holdings for $620 million in a move to gain traction in the $40 billion global tea industry.

According to Starbucks chairman, president and CEO Howard Schultz, the coffee company plans to grow and expand Teavana’s 300 mall-based stores as well as add a neighborhood store concept to accelerate Teavana’s domestic and global footprint.

November 1, 2012

As the holidays approach and retailers are still recovering from Hurricane Sandy, October same-store sales results showcased consistent strength in the department store category.

New York -- As the holidays approach and retailers are still recovering from Hurricane Sandy, October same-store sales results showcased consistent strength in the department store category.

Nordstrom led the pack with a 9.8% rise in same-store sales for the month, and Macy’s Inc. had a solid showing as well.

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.

July 5, 2012

Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending.

New York -- Analysts expected 18 top retail chains to report a modest gains in June, as high unemployment and falling consumer confidence have taken a toll on spending.

Among the department store retailers reporting June same-store results so far, the results were largely mixed. Macy’s was among the retailers reporting sales that fell short of estimates. Same-store sales rose 1.2% in June, missing Wall Street’s projected 1.9% gain.

May 9, 2012

Marsh Supermarkets said that Joe Kelley, chairman, president and CEO, has left the company to become president of Stop & Shop's New England division.

Indianapolis -- Marsh Supermarkets said that Joe Kelley, chairman, president and CEO, has left the company to become president of Stop & Shop's New England division. Marsh named COO Bill Holsworth as interim CEO, effective immediately.

At Stop & Shop, Kelley succeeds Mark McGowan, who was promoted to executive VP supply chain, Ahold USA. Both appointments are effective May 21.
 

March 21, 2012

Kohl’s Department Stores announced plans to launch an exclusive American Idol apparel collection.

New York -- Kohl’s Department Stores announced plans to launch an exclusive American Idol apparel collection. The newly created line -- Authentic Icon (AI) -- will be available exclusively at Kohl’s and Kohls.com beginning in April.

March 1, 2012

Results were mixed among the department store players in February, as Macy’s turned in a strong performance and Kohl’s missed expectations.

New York -- Results were mixed among the department store players in February, as Macy’s turned in a strong performance and Kohl’s missed expectations.

For the month, Macy’s reported a same-store sales gain of 4.6%, beating the 3.5% rise anticipated by Wall Street. Online sales for the operator of Bloomingdale’s and its namesake banner surged 31.3%, boosting the same-store sales percentage advance. Total revenue in February increased 5.5% to $1.86 billion.

January 4, 2012

Macy’s Inc. announced a strategic plan to open new stores in select markets as well as to close a series of underperforming units.

New York City -- Macy’s Inc. announced a strategic plan on Wednesday to open new stores in select markets as well as to close a series of underperforming units. As part of the plan, five Macy’s department stores will be shuttered in spring 2012 – in Topeka, Kan.; Laurel, Md.; Parma, Ohio; Antioch, Tenn.; and Texas City, Texas. Five new Macy’s stores will open in 2012 and 2013.

November 16, 2011

Target Corp.’s profit increased a better-than-expected 3.7% in the third quarter to $555 million, up from $535 a year earlier.

Minneapolis -- Target Corp.’s profit increased a better-than-expected 3.7% in the third quarter to $555 million, up from $535 a year earlier. The retailer’s performance was helped by solid spending and improvement in its credit card business.

Revenue rose 5.4% to $16.05 billion. Same-store sales were up 4.3% in the quarter.

October 6, 2011

Macy’s saw same-store sales rise 4.9% in September, beating Wall Street’s expected 4.4% increase, and total sales surged 5.3% to $2.298 billion in the five-week period.

New York City -- Macy’s saw same-store sales rise 4.9% in September, beating Wall Street’s expected 4.4% increase, and total sales surged 5.3% to $2.298 billion in the five-week period.

“We continued to see a strong sales trend in September at both Macy’s and Bloomingdale’s,” said Terry J. Lundgren, chairman, president and CEO of Macy’s. “Our sales performed well both in stores and online. This underscores that our business remains on track, despite the persistently negative macroeconomic news.”

September 26, 2011

Macy’s said it plans to hire approximately 78,000 seasonal associates for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2011 holiday season.

Cincinnati -- Macy’s said it plans to hire approximately 78,000 seasonal associates for its Macy’s and Bloomingdale’s stores, call centers, distribution centers and online fulfillment centers nationwide for the 2011 holiday season. The total is up about 4% from the approximately 75,000 seasonal associates the chain hired last year.

“We expect additional hiring this year given the continued sales growth in our business – both in-store and online,” said Terry J. Lundgren, Macy’s, chairman, president and CEO.

August 4, 2011

Department store retailers registered solid gains in July, with Macy’s, Saks and J.C. Penney all beating analysts’ estimates. Kohl’s, however, fell short of estimates as its sales fell.

New York City -- Department store retailers registered solid gains in July, with Macy’s, Saks and J.C. Penney all beating analysts’ estimates. Kohl’s, however, fell short of estimates as its sales fell.

At Macy's, same-store sales rose 5% in July, beating analysts' estimates of 4.1%. The company’s online sales (macys.com and bloomingdales.com combined) surged 36.7% in July, 40.2% in the second quarter and 39.2% in the first half of 2011.

July 7, 2011

With same-store sales increases of 6.7% and 7.5% respectively, Macy’s and Kohl’s outperformed rival J.C. Penney in June, as J.C. Penney came up short of Wall Street estimates with a slight 2% gain.

New York City -- With same-store sales increases of 6.7% and 7.5% respectively, Macy’s and Kohl’s outperformed rival J.C. Penney in June, as J.C. Penney came up short of Wall Street estimates with a slight 2% gain.

Macy’s saw total sales rise 7.5% in June to $2.4 billion.

“Sales growth in June exceeded our expectations,” said Terry J. Lundgren, chairman, president and CEO. “Once again, the growth came from across the company -- Macy’s and Bloomingdale’s stores and online sites.”

June 9, 2011

Target ended its last fiscal year with sales of $67.4 billion and earnings per share of $4, but if company chairman, president and CEO Gregg Steinhafel has his way, within six or seven years earnings per share will double to $8 and sales will top $100 billion.

Target ended its last fiscal year with sales of $67.4 billion and earnings per share of $4, but if company chairman, president and CEO Gregg Steinhafel has his way, within six or seven years earnings per share will double to $8 and sales will top $100 billion.

March 3, 2011

Sales at Macy’s, J.C. Penney and Kohl’s surpassed analysts’ estimates in February amid gradually moderating temperatures and rising consumer confidence.

New York City -- Sales at Macy’s, J.C. Penney and Kohl’s surpassed analysts’ estimates in February amid gradually moderating temperatures and rising consumer confidence. However, analysts warned that a late Easter and rising gasoline prices could impact sales going forward.

Confidence among U.S. consumers rose in February to the highest level in three years, according to a Thomson Reuters/University of Michigan index, as a drop in unemployment helped overcome concern over rising food and fuel costs.

February 22, 2011

Zale Corp. said Tuesday that it has appointed David F. Dyer, chairman, president and CEO of Chico’s FAS, to its board of directors, effective immediately.

Dallas -- Zale Corp. said Tuesday that it has appointed David F. Dyer, chairman, president and CEO of Chico’s FAS, to its board of directors, effective immediately.

The company also announced the resignation from the board of Charles M. Sonsteby, who had served since November 2006.

December 10, 2010

Genesco reported on Friday a criminal intrusion into the portion of its computer network that processes payment card transactions ...

Nashville, Tenn. -- Genesco reported on Friday a criminal intrusion into the portion of its computer network that processes payment card transactions for its U.S. Journeys stores, Journeys Kidz, Shi by Journeys and Johnston & Murphy stores, and for some of its Underground Station stores.

The retailer announced that it took immediate steps to secure the affected part of its network and said it believes the intrusion has been contained.

December 1, 2010

The 2010 Ernst & Young Entrepreneur of the Year awards program recognized retailers from across the nation. Several of the regional retail winners are profiled below.



Matt Rubel learned his craft at an early age. The 52-year-old chief of footwear giant Collective Brands Inc., parent to such brands as Payless ShoeSource, Stride Rite and Sperry Top-Sider, was introduced to retail by his parents.


“I worked in their stores growing up, starting at a very young age,” Rubel said. “I learned that I loved customers and their passion for shopping.”


Rubel has remained true to his early vocation. After graduating college in 1979, he started his career at the legendary Bonwit Teller in New York. From there, he went on to hold leadership positions at some of the nation’s most prominent retail brands. From 1999 to 2005, Rubel served as chairman, president and CEO of Cole Haan, a subsidiary of Nike, where he led a multi-year turnaround, re-energizing the brand and creating a strong global presence.


Rubel brought a wealth of experience and business know-how to Payless, which he joined as chief executive in 2005. He also brought a knack for building things: In 2007, Rubel led the $800 million acquisition of The Stride Rite Corporation and the resulting formation of Collective Brands. Under his leadership, the Payless brand has been revitalized and has grown into the largest specialty family footwear retailer in the Western Hemisphere, with nearly 4,500 stores. The company has evolved into a diverse global player with a strong portfolio of iconic brands and five dynamic channels: wholesale, retail, e-commerce, licensing and franchising.


The road to dynasty-dom wasn’t without bumps, but that has played to Rubel’s skill sets. 


“I love fixing and building, and this company offered both,” Rubel said.

The executive describes his leadership style as “empowering with strategic guidance. 


“I believe that if you give people the right tools and resources, a framework and the right amount of guidance, they can accomplish just about anything,” Rubel explained.


Rubel is bullish on the future. The ongoing global expansion of Payless calls for at least 80 franchise stores in nine countries in 2011, with opportunities to expand to 700 stores within five years and 1,400 stores long term. 


The company’s Sperry Top-Sider brand is also laying plans to expand its retail presence by 40 to 60 stores during the next three to five years, based on the success of five stores that have opened to date. And Rubel has outlined long-term growth targets companywide that call for net sales growth of 3% to 5% and operating profit growth of 9% to 12%.


Even when immersed in the big picture, however, Rubel hasn’t forgotten the lessons that got him to where he is today.


“The best piece of advice I received along the way was to master the fundamentals of business and your industry,” he said. “And if I, in turn, could offer advice to another entrepreneur, it would be to master the fundamentals — and know your customer.” 



 

Lexy Funk has created a thriving retail business based on an unlikely mantra that grew out of her and her partner’s early experiences as artists trying to make a living. 


“Our motto — LIVE, WORK, CREATE — is infused throughout everything we do. We believe in bringing creativity and an artistic spirit to our company and customers. This makes our stores fresh, original and constantly changing,” said Funk, 40, co-founder and CEO of Brooklyn Industries, which sells cool clothing and accessories to urban hipsters through its 14 stores and Web site.


In 1997, Funk and partner (now husband) Vahap Avsar were living in New York and running a design-based company that produced TV commercials and documentary films. The couple changed gears when Avsar found a vinyl billboard in a dumpster and decided the material would make an ideal messenger bag. Soon, they were working out of an old factory in Brooklyn, making the bags full time and selling them to boutiques. 
As the company grew, so did its product lineup, expanding from messenger bags to graphic T-shirts to a full range of lifestyle clothing for men and women, with some kids items too. In 2001, it opened its first store, also in Brooklyn. 
Today, Brooklyn Industries is a vertical brand, defined by its cutting-edge designs, limited-edition prints and strong sense of corporate responsibility. Nearly all (99%) of the merchandise is produced by the company under its own label.


Funk and her husband divide responsibilities. She is focused on the company’s business direction and strategy, as well as the merchandising, while Avsar serves as creative director. He is in charge of everything creative, including bag and clothing design, visual concepts and store designs. 


In 2008, Brooklyn Industries began expanding outside its New York home base, opening stores in Chicago; Portland, Ore. (with a space that doubles as an art showcase for independent artists); and, most recently, Boston and Philadelphia. More stores are planned for 2011. 


“We want to continue to expand our clusters and grow in existing markets,” Funk said. 


Even hip retailers like Brooklyn Industries have been challenged by the economic downturn. But Funk remains optimistic. 


“Cash flow and funding continues to be an issue in the current economic climate,” she said. “But we have a terrific brand, and the response from customers continues to be very strong.”


As for advice to others who may be thinking of striking out on their own, Funk said that having a financial background or working with a financial partner is critical to a successful start-up.


“To have a successful business, it is also important to identify a ‘blue ocean strategy,’ or an area in the market that is underserved,” she added. “The strategy, however, might not be what you initially think. Be flexible to the market and your customer, and do not be afraid to switch gears if your initial idea is not working.” 


Looking back, is there anything Funk would do differently? 


“Believe in our gut feelings about business issues and not listen too much to what other people in the industry are doing,” she said. “And get into vertical retailing faster, as it is a great model.” 
 


 

Take good care of people and the rest will fall into place. That’s what Phil Hagerman’s father told him when he was just starting out, and it’s a credo that Hagerman continues to live by today.


“My dad was a great mentor,” said Hagerman, 58, president and CEO of Diplomat Specialty Pharmacy, the nation’s largest privately held specialty pharmacy company. 


Now a $100 billion industry, specialty pharmacy — which focuses on comprehensive and coordinated medication management systems for patients with serious and chronic conditions — was barely a blip on the radar when Hagerman, fresh out of pharmacy school, and his father, Dale Hagerman, also a pharmacist, opened Diplomat Pharmacy in 1975. Located in Flint, Mich., Diplomat was a conventional drug store. But the Hagermans soon got involved in compounding, or making up customized medications and therapies for specific customers. Diplomat’s compounding business picked up steam throughout the 1980s and early 1990s. The store also developed a reputation for carrying medications that the average pharmacy did not carry. 


“Compounding really got us into the niche of specialty pharmacy,” Hagerman said. 


From compounding to creating programs specifically for patients in need, starting with individuals on dialysis, Diplomat began to expand its reach and services. 


In 2005, Diplomat opened two additional locations. The company has been on the fast track ever since. It has experienced dramatic growth in recent years and has contracts with managed care, pharmaceutical manufacturers, large pharmacy benefit managers and clinical research organizations. Hagerman estimates sales will grow 55% in 2010, to $600 million. 


Today, Diplomat offers a comprehensive array of complete medication management programs in such areas as oncology, HIV/AIDS, multiple sclerosis and Crohn’s, to name but a few. Other specialty areas include transplant, fertility and specialty compounding. It has more than 40 pharmacists and 20 nurses on staff. 


Most recently, the company launched Diplomat University, a Web tool designed to educate and train new and existing employees. Hagerman’s daughter, Jennifer, who has a doctorate in pharmacy, serves as director of education. 


“Our goal is to have the best trained staff in our industry,” Hagerman said. 


Diplomat’s original Flint location remains a conventional walk-in pharmacy and fills 700 prescriptions daily. But specialty order mailings make up the bulk of business at the company’s four other locations, which are scattered across the country (traditional pharmacy accounts for less than 3% to 4% of overall revenues). It plans to open a location in the New York metro area to expand its Northeast effort. 


Hagerman has two partners who are minority owners in Diplomat.


“Much of my success in recent years has come from surrounding myself with great people,” he added. 


Hagerman is proud of his profession and his business, which touches people’s lives in the most critical ways. 


“Our dramatic growth will never take away from our emphasis on service,” he said. “At the end of every transaction, there is a patient in need. As we’ve grown our company, that’s our focus. As our mission statement says, we are dedicated to keeping patients healthier, one patient at a time.” 



 

It wouldn’t be a stretch to assume that Charlie Chanaratsopon has lived a charmed life. He was just 26 years old when he founded the women’s accessories concept Charming Charlie, and now, at age 32, the young entrepreneur has grown the privately held Houston-based chain to 98 stores strong.


But Chanaratsopon is quick to point out that a lot of effort, and a little luck, have propelled him down his current path to success.


“My team and I have had to work very hard and be very patient to grow this chain to where it is today,” he said. “If I were to offer one piece of advice to an up-and-coming retail entrepreneur, it would be to explore unmet demand, and then open a store that meets that demand.” 


Chanaratsopon, whose varied background includes commercial real estate and shopping center development, launched Charming Charlie in 2004 to fill an empty space in one of his shopping centers. The success of the store prompted him to forego a career in shopping centers and, instead, focus on growing the popular accessories concept into a national chain.


From the start, Charming Charlie has been distinguished by its broad selection of trend-right accessories, affordable price points and stylish upscale boutique environment. But what really sets the format apart from its competitors in the accessories space is an innovative merchandising strategy that displays merchandise by color, not category. 


“Listening to our core customer has been key to our success,” Chanaratsopon explained. “Even our color-grouped merchandising strategy is based on customer input. Organizing by color is what our customer wanted, so that is what we gave her.”


Chanaratsopon hasn’t been deterred by the recession. Store numbers have continued to grow throughout the downturn, and he is planning to open 60 new stores in 2011. Overseas expansion is also on his radar.


“I think we can be a leading global accessories retailer,” Chanaratsopon said. “There really is no limit to our growth because our customer [base] is evenly distributed among Gen Y, Gen X and baby boomers, [and our merchandise] appeals to all ethnicities, ages and income levels.”


As Chanaratsopon sees it, the greatest challenge to retail success is securing unwavering patron loyalty. 
“The hardest part to all of this is gaining the heart of the customer,” he said. “We have that part down.” 



 

The football analogies come easy for Jimmy Haslam, 56, president and CEO of Pilot Flying J out of Knoxville, Tenn. The part-owner of the Pittsburgh Steelers NFL football team has leveraged his knowledge and love of the game to strategically run a privately held company that merged Pilot Travel Centers LLC and Flying J Inc. to become one of the top 10 privately held companies in the United States.


“Strategy is important, but execution is even more important,” Haslam said. “If I can offer a football analogy: Strategy is equivalent to developing your game plan, but good blocking and tackling will help you win the game.”


Haslam joined the Pilot team in 1976, after earning a degree in marketing from the University of Tennessee. He was promoted to VP sales, development and operations in 1980. In 1996, he was named president and CEO.


“My career has been marked by the continued growth of our business, culminating in the merger last summer that created Pilot Flying J,” Haslam said.


Although Pilot was founded in 1958 as a single, family-owned gas station in Gate City, Va., it has been under Haslam’s tenure that the chain has grown from a c-store concept to comprehensive travel centers. By 2001, Pilot was operating 65 convenience stores and 140 travel centers in 37 states, and Sept. 1 of that year, Pilot Corp. became Pilot Travel Centers out of a merger with Marathon Petroleum Co. 


In February 2003, Pilot acquired Williams Travel Centers, doubling the size of the company, and in July 2009, the merger with Flying J created Pilot Flying J, expanding the network of interstate travel centers and travel plazas focused on superior customer service and enhanced offerings for professional drivers and traveling motorists. 


The company now operates 500 locations in 43 states and six Canadian provinces and employs more than 20,000 people. Offerings include fuel, restaurants and convenience products. Coming brand additions will include Denny’s, Subway and Pizza Hut, as well as upgrades to drivers’ lounges, new gasoline and diesel pumps, and remodeled restrooms at many locations.


For Haslam, growing and running the company has been as much about the team as it has been about the game plan.


“If I could give any advice to another would-be entrepreneur, it is that relationships are very important,” he said. “You need to take the time to coach people to ensure the success of your organization.”


And if he could have done anything differently along the way?


“I would have spent even more time coaching our people,” he said. 



October 6, 2010

The nation’s department store retailers generally reported better-than-expected results in September, helped by a strong...