Content about Company Reorganization

April 4, 2014

Michael Manos has joined payments security provider First Data as chief technology officer after holding a similar role at AOL.

Michael Manos has joined payments security provider First Data as chief technology officer after holding a similar role at AOL.

In his new role, Manos will be responsible for First Data's global technology infrastructure and reports to company president Guy Chiarello.

April 2, 2014

Talk of nearshoring and a resurgent U.S. manufacturing sector weren’t enough to help the Stanley Furniture Company avoid shuttering a domestic manufacturing plant that employs 400 people.

Talk of nearshoring and a resurgent U.S. manufacturing sector weren’t enough to help the Stanley Furniture Company avoid shuttering a domestic manufacturing plant that employs 400 people.

Following steep losses last year, Stanley said it would close its 562,000-sq.-ft. facility in Robbinsville, NC., where ironically enough the company’s Young America line of Juvenile furniture was manufactured.

February 26, 2014

In a sign of some progress in its turnaround efforts, J.C. Penney reported a net profit of $35 million for the fourth quarter ended Feb. 1, compared to a loss of $552 million a year ago. Excluding a tax benefit and other items, Penney had a loss of $206 million for the quarter.

In a sign of some progress in its turnaround efforts, J.C. Penney reported a net profit of $35 million for the fourth quarter ended Feb. 1, compared to a loss of $552 million a year ago. Excluding a tax benefit and other items, Penney had a loss of $206 million for the quarter.

Looking forward, the company expects same-store sales to increase approximately 3% to 5% for the first quarter and to increase mid-single digits for the full year 2014.

January 30, 2014

Less than two months after Sam’s Club named a new president and CEO, two of the warehouse club’s top executives are scheduled to weigh in on its digital direction at an event in late February.

Less than two months after Sam’s Club named a new president and CEO, two of the warehouse club’s top executives are scheduled to weigh in on its digital direction at an event in late February.

January 22, 2014

Hudson's Bay Company’s CFO Michael Culhane is reportedly taking a leave of absence from the company. Assuming the CFO role will be Donald Watros, who on Feb. 1 will be stepping into his new role as president of the company.

Hudson's Bay Company’s CFO Michael Culhane is reportedly taking a leave of absence from the company. Assuming the CFO role will be Donald Watros, who on Feb. 1 will be stepping into his new role as president of the company.

HBC did not provide further details on Culhane or the CFO spot.

January 10, 2014

Former Barnes & Noble executive Jamie Iannone was named president and CEO of Samsclub.com in a restructuring that elevates and integrates Sam’s Club’s online business into the Walmart’s Global eCommerce business unit based in California.

Former Barnes & Noble executive Jamie Iannone was named president and CEO of Samsclub.com in a restructuring that elevates and integrates Sam’s Club’s online business into the Walmart’s Global eCommerce business unit based in California.

Iannone previously served as president of digital products at Barnes & Noble and oversaw the book seller’s Nook Media unit. He also spent seven years at eBay, earned a bachelor’s degree at Princeton and an MBA at Stanford.

December 18, 2013

The flurry of activity continued at Office Depot as the company which resulted from the merger of Office Depot and OfficeMax laid groundwork for growth in 2014 by identifying some key leaders.

The flurry of activity continued at Office Depot as the company which resulted from the merger of Office Depot and OfficeMax laid groundwork for growth in 2014 by identifying some key leaders.

A little more than one month after Roland Smith was named chairman and CEO of Office Depot and one week after choosing Boca Raton, Fla., as the merged company’s headquarters, Smith announced a slate of senior executive positions that touch every aspect of the company along with several roles that are yet to be filled.

November 19, 2013

Kroger announced its succession plan for secretary and general counsel. Paul Heldman, 62, a 31-year Kroger veteran who has been serving as the company's general counsel since 1989, secretary since 1992 and EVP since 2006, plans to retire in spring of 2014.

Kroger announced its succession plan for secretary and general counsel. Paul Heldman, 62, a 31-year Kroger veteran who has been serving as the company's general counsel since 1989, secretary since 1992 and EVP since 2006, plans to retire in spring of 2014.

November 19, 2013

Sears Canada said a one-time charge of $41 million related to restructuring and asset impairment affected its third quarter results, which resulted in a net loss of about $46.7 million USD — more than double the net loss of $21 million it posted in the same quarter of the previous fiscal year.

Sears Canada said a one-time charge of $41 million related to restructuring and asset impairment affected its third quarter results, which resulted in a net loss of about $46.7 million USD — more than double the net loss of $21 million it posted in the same quarter of the previous fiscal year.

In addition, revenues of $940.7 million were down about 6% from $1 billion. In one bright spot, same-store sales climbed 1.2%. Sears Canada is in the middle of a three-year turnaround program launched in 2012.

November 14, 2013

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Robert E. Grosskopf and Richard P. Edwards as co-presidents of the retail division.

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Robert E. Grosskopf and Richard P. Edwards as co-presidents of the retail division.

They will jointly assume responsibility for the division's growth strategy while overseeing all client engagements and daily operations.

October 3, 2013

Newell Rubbermaid is consolidating its marketing efforts and picking one lead creative partner and one lead media-buying partner to help oversee the company’s global advertising and promotion investment.

Newell Rubbermaid is consolidating its marketing efforts and picking one lead creative partner and one lead media-buying partner to help oversee the company’s global advertising and promotion investment.

July 23, 2013

Avery Dennison Corporation’s first-quarter 2013 results were in line with its expectations, according to chairman, president and CEO Dean Scarborough.

PASADENA, Calif. — Avery Dennison Corporation’s first-quarter 2013 results were in line with its expectations, according to chairman, president and CEO Dean Scarborough.

The company’s total net sales for the quarter were $1.5 billion, an increase of 4% from $1.4 billion for the same quarter a year ago. Net sales adjusted to exclude the estimated impact of currency translation, product line exits, acquisitions and divestitures increased 4%. 

July 9, 2013

Geeknet, the parent company of online retailer ThinkGeek.com, has appointed Julie Pangelinan as the company’s CFO, effective Aug. 12.

FAIRFAX, Va. — Geeknet, the parent company of online retailer ThinkGeek.com, has appointed Julie Pangelinan as the company’s CFO, effective Aug. 12.

Pangelinan has more than 25 years of operations and financial experience, most recently as CFO of Interstate Hotels and Resorts and Sunrise Senior Living.

June 18, 2013

Mattel Brands and Fisher-Price is looking to remain players in the global market. To that end, the company is restructuring its licensing approach and prioritizing its portfolio of brands to create partnerships that foster global growth.

LAS VEGAS — Mattel Brands and Fisher-Price is looking to remain a key player in the global market. To that end, the company is restructuring its licensing approach and prioritizing its portfolio of brands to create partnerships that foster global growth. 

The Mattel Brands consumer products group has identified global business category leaders and a global creative team to further support growth, ensure product quality and create a meaningful differentiation for partners and consumers.

June 4, 2013

Dollar General reported record sales, operating profit and net income for the first quarter ended May 3, thanks to strong growth in its consumables categories.

GOODLETTSVILLE, Tenn. — Dollar General reported record sales, operating profit and net income for the first quarter ended May 3, thanks to strong growth in its consumables categories.

May 21, 2013

Store closures and a shift in this year’s Super Bowl affected Best Buy’s results for the 13-week period ended May 4.

MINNEAPOLIS — Store closures and a shift in this year’s Super Bowl affected Best Buy’s results for the 13-week period ended May 4. 

May 15, 2013

TOLEDO, Ohio — Hickory Farms, a leading provider of specialty foods and holiday food gifts, has made changes to its executive team.

The company has promoted VP of brand marketing Michael Holton to CMO. VP of supply chain Joe Loch has been promoted to VP of franchise and retail sales. Director of logistics Ty Hanline has been promoted to VP of supply chain. The company has also hired Davenport, Hanf & Company executive Joe Herman to be its interim CFO.

April 24, 2013

The Jones Group Inc. plans to close 170 under-performing stores in the U.S. by mid-2014 as part of its efforts to shore up profitability.

NEW YORK — The Jones Group Inc. plans to close 170 under-performing stores in the U.S. by mid-2014 as part of its efforts to shore up profitability.

The stores identified for closure include 50 units previously announced in the fourth quarter.

Jones, which owns the Nine West, Jones New York and Anne Klein banners among others, will emerge from the restructuring with a higher percentage of outlet stores in its portfolio, and some units will be converted to more viable sister banners.

January 8, 2013

Wolverine Worldwide is making organizational changes to drive its future growth and global brand building.

ROCKFORD — Wolverine Worldwide is making organizational changes to drive its future growth and global brand building.

Capitalizing on the momentum following Wolverine’s October 2012 acquisition of the Performance & Lifestyle Group, it will migrate from four to three brand operating groups. Wolverine expects the new operating group alignment to maximize brand synergies and leverage global growth opportunities. Veteran company leaders Ted Gedra, Mark Neal and Jim Zwiers will lead the new operating groups.

January 4, 2013

Office Depot on Friday announced that Kevin Peters had resigned from his role as president of the retailer’s North American division effective immediately.

Office Depot on Friday announced that Kevin Peters had resigned from his role as president of the retailer’s North American division effective immediately.

Office Depot said Peters was leaving the company after five years to become CEO of an unidentified industrial distribution company.

November 6, 2012

If the economy is improving someone forgot to tell Office Depot’s customers. The company reported a third quarter loss of $70 million loss on sales that declined 5% to $2.7 billion.

If the economy is improving someone forgot to tell Office Depot’s customers. The company reported a third quarter loss of $70 million loss on sales that declined 5% to $2.7 billion.

October 29, 2012

eBay has eliminated approximately 325 jobs from its PayPal division.

SAN JOSE, Calif. — eBay has eliminated approximately 325 jobs from its PayPal division. As a result, the company has announced a planned fourth quarter pretax restructuring charge of approximately $15 million related to staff reductions at the company's PayPal business unit. PayPal also is ending contracts with approximately 120 contractors globally.

October 26, 2012

In addition to an extensive structural makeover, dubbed the "Growth Game Plan", Newell Rubbermaid president and CEO Mike Polk announced a new leadership team that includes outside appointments to several executive positions.

ATLANTA — In addition to an extensive structural makeover, dubbed the "Growth Game Plan", Newell Rubbermaid president and CEO Mike Polk announced a new leadership team that includes outside appointments to several executive positions.

May 16, 2012

From personnel changes to its new "fair and square" price strategy, JCPenney has put a lot into changing the company's image, and investors are waiting for it to pay off.

When JCPenney hired former Target chief marketer, Michael Francis, to serve as president, the company no doubt thought he would bring with him a bit of Target's magic. Now, about six months since he assumed his role at JCPenney, the company has undergone a number of personnel changes and the implementation of its new "fair and square" price strategy, and investors are waiting for it to pay off.

March 21, 2012

The National Retail Federation has named Ellen Davis SVP and executive director of the NRF Foundation, the education and research arm of NRF.

WASHINGTON — The National Retail Federation has named Ellen Davis SVP and executive director of the NRF Foundation, the education and research arm of NRF.