Rarely in recent memory has a new year begun with so many new faces at or near the top of the leading U.S. retailers. Rarely in recent memory has a new year begun with so many new faces at or near the top of the leading U.S. retailers. Indeed, some of America’s most important retail
The day of reckoning for Sears Holdings appears to be getting closer. The day of reckoning for Sears Holdings appears to be getting closer. Recent stories in the Wall Street Journal and The New York Times say some big clients of ESL Investments, the hedge fund run by Edward Lampert, who orchestrated the merger of
BENTONVILLE, Ark. — Walmart has named Doug McMillon to replace Mike Duke, who is retiring as president and chief executive officer, effective February 1. Walmart has named Doug McMillon to replace Mike Duke, who is retiring as president and chief executive officer, effective February 1. Duke will continue to serve as chairman of the executive
NEW YORK — Americans crowded into stores over Thanksgiving weekend to take advantage of Black Friday deals, according to the National Retail Federation (NRF). But while store traffic was up, spending was down. Americans crowded into stores over Thanksgiving weekend to take advantage of Black Friday deals, according to the National Retail Federation (NRF). But
WOONSOCKET, R.I. — Helena Foulkes has been named to succeed Mark Cosby as president of CVS/pharmacy. Foulkes, who will assume the post on January 1, has been CVS Caremark Corp.’s chief health care strategy and marketing officer. Helena Foulkes has been named to succeed Mark Cosby as president of CVS/pharmacy. Foulkes, who will assume the
BUFFALO, N.Y. — Six executives from Tops Friendly Markets have agreed to purchase the company from its private equity owner Morgan Stanley Capital Partners. Six executives from Tops Friendly Markets have agreed to purchase the company from its private equity owner Morgan Stanley Capital Partners. The group, which includes chief executive officer Frank Curci, hopes
GREEN BAY, Wis. — International retailing veteran Peter McMahon has been named chief executive officer of Shopko Stores Operating Co. International retailing veteran Peter McMahon has been named chief executive officer of Shopko Stores Operating Co. McMahon’s career spans more than 30 years, most recently as chief operating officer at Loblaw Cos., Canada’s largest supermarketer
WASHINGTON — The Supreme Court has refused to hear a legal challenge to a law that requires Amazon.com Inc. and other online retailers to collect state sales taxes. Amazon and Overstock.com had challenged the New York law. The Supreme Court has refused to hear a legal challenge to a law that requires Amazon.com Inc. and
SALISBURY, N.C. — Food Lion has made what it says are significant investments in 169 stores across North Carolina and South Carolina. Food Lion has made what it says are significant investments in 169 stores across North Carolina and South Carolina. Much of the investment, the company notes, was in the Greenville and Wilmington markets
CHICAGO — Safeway Inc. has sold 11 of its Dominick’s supermarkets here to Roundy’s Inc. in a $36 million cash and lease assumption transaction. Safeway Inc. has sold 11 of its Dominick’s supermarkets here to Roundy’s Inc. in a $36 million cash and lease assumption transaction. The stores include three in Chicago, and one apiece
COLUMBUS, Ohio — Big Lots Inc. has appointed three general merchandise managers as part of a realignment of its merchandising organization into customer-centric categories of food and consumables; furniture and home decor; and seasonal, toys and electronics. Big Lots Inc. has appointed three general merchandise managers as part of a realignment of its merchandising organization