Content about Company Reorganization

May 21, 2013
Best Buy Q1 impacted by store closures, Super Bowl

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
Executive team changes at Hickory Farms

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
Jones Group to close under-performing stores

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 steps up global brand building

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
Kevin Peters to leave Office Depot

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
What recovery? Sales decline and loss expands at ODP

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 cuts PayPal jobs as part of restructuring plan

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
Newell Rubbermaid announces new executive appointments as part of restructuring plan

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
Francis' marketing magic slow to take hold at JCPenney

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
NRF names head of research division

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.

March 9, 2012
Delhaize to close 146 stores on falling profits

Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring.

NEW YORK — Belgian supermarket operator Delhaize Group said that its fourth quarter net profit dropped 48%, hurt by impairments resulting from its restructuring. It also announced that Mats Jansson will be the new chairman of the board, and that Pierre Bouchut will succeed Stefan Descheemaeker as CFO, effective March 19.

The company, whose U.S. holdings include the Food Lion, Hannaford Bros. and Sweetbay banners, said it will accelerate the revamp of its stores in the United States and Belgium to increase its competitiveness.

March 1, 2012
Kroger swings to loss on union costs

Kroger posted a loss in the quarter ended Jan. 28, attributing the loss to costs associated with consolidating its pension plan for union workers.

CINCINNATI — Kroger posted a loss in the quarter ended Jan. 28, attributing the loss to costs associated with consolidating its pension plan for union workers.

The grocer, which counts among its banners Kroger, Ralphs and Food 4 Less, lost $306.9 million in the quarter, compared with a profit of $278.8 million in the year-ago period.

Total sales in the quarter rose 7.7% to $21.4 billion. Excluding fuel, sales rose 5%. Same-store sales increased 4.9%.

January 5, 2012
Discounters and department stores turn in mixed results for December

The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

NEW YORK — The nation’s discounters and department store retailers turned in mixed results for December, with many chains citing unseasonably warm weather that sapped demand for cold-weather merchandise.

“Cold-weather categories, which are highly profitable and represent approximately 25% of our business in December, were down mid-teens on a percentage basis,” said Tony Buccina, vice chairman, president – merchandising, The Bon-Ton Stores, whose December same-store sales fell 0.7%. The company widened its loss forecast.

November 14, 2011
JCP chief brings in Apple buddies, company reports 3Q sales decline

JCPenney, which reported sales and income decreases for the third quarter, has brought on two new executives to join fellow Apple alumnus, CEO, Ron Johnson.

PLANO, Texas — JCPenney, which reported sales and income decreases for the third quarter, has brought on two new executives to join fellow Apple alumnus, CEO, Ron Johnson. 

August 30, 2011
Management shake-up at Lowe’s

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's has announced a restructuring in both in-store operations and merchandising organizations that will thin the ranks of its management and consolidate both its regions and divisions.

Lowe's merchants have been reorganized into two product divisions, each led by a senior VP/general merchandising manager. Both will report to executive VP merchandising Robert Gfeller Jr. 

Troy Dally, previously SVP/GMM hardlines/building products, will lead the new building and outdoor products division.

August 4, 2011
Investment firm names new COO

Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Robert Paglia COO.

BOSTON — Gordon Brothers Group, a global advisory, restructuring and investment firm specializing in the retail, consumer products, industrial and real estate sectors, has named Robert Paglia COO. Paglia will focus on the oversight of Gordon Brothers Group's operating, financial planning, human resource, administrative, corporate marketing, and information technology functions in support of the firm's global platform of integrated operating and capital solutions, the company reported.

July 14, 2011
Office Depot reshuffles personnel

Office Depot has combined its two largest divisions and named Kevin Peters to the new role of president of North America.

BOCA RATON, Fla. — Office Depot has combined its two largest divisions and named Kevin Peters to the new role of president of North America. The change gives Peters, who previously served as president of North American retail, continuing oversight of the retail group in addition to leadership of the company’s North American business solutions division which is focused on large and mid-size commercial customers.

May 26, 2011
A&P completes auction of 25 Superfresh stores

The Great Atlantic & Pacific Tea Company announced that it recently completed the previously announced auction of 25 southern Superfresh locations, as it continues to fully implement its comprehensive financial and operational restructuring.

MONTVALE, .N.J. — The Great Atlantic & Pacific Tea Company announced that it recently completed the previously announced auction of 25 southern Superfresh locations, as it continues to fully implement its comprehensive financial and operational restructuring. The winning bids, which are subject to approval from the bankruptcy court before the sales would be completed, will be listed in motions of the company to be filed with the court on May 27.

 The winning bids are as follows:

April 22, 2011
OfficeMax taps Walmart exec for new role

Former Walmart merchandising and store operations executive Michael Lewis was named EVP and president of retail at OfficeMax.

NAPERVILLE, Ill.  -- Former Walmart merchandising and store operations executive Michael Lewis was named EVP and president of retail at OfficeMax. Lewis will report to OfficeMax president and CEO Ravi Saligram and have responsibility for all aspects of the company’s retail business including merchandising, store operations and real estate.

April 19, 2011
Restructuring accelerates Gap’s global growth

Gap Inc. wants international and online sales to account for 30% of its revenues within two years and a restructuring announced this week is expected to play a role in facilitating that growth.

Gap Inc. wants international and online sales to account for 30% of its revenues within two years and a restructuring announced this week is expected to play a role in facilitating that growth.

The company said it would consolidate four existing international business units into one under the leadership of Stephen Sunnucks, a 30-year retail veteran who joined Gap five years ago.

April 7, 2011
Easter shift impacts warehouse clubs slightly

The shifting of Easter to April this year impacted the warehouse club sector last month, as both Costco and BJ’s reported March comps that were negatively impacted by the calendar change.

ISSAQUAH, Wash. and WESTBOROUGH, Mass. -- The shifting of Easter to April this year impacted the warehouse club sector last month, as both Costco and BJ’s reported March comps that were negatively impacted by the calendar change. Without the benefit of Easter sales, both companies still managed to turn out respectable comps.

February 28, 2011
Safeway gets new loyalty chief to manage mobile migration

Safeway Monday announced the promotion of Mir Aamir to president customer loyalty and digital technologies, reporting to Diane Dietz, EVP, chief marketing officer.

PLEASANTON, Calif. -- Safeway Monday announced the promotion of Mir Aamir to president customer loyalty and digital technologies, reporting to Diane Dietz, EVP, chief marketing officer. In this new role, Mir will lead Safeway's loyalty programs and oversee digital and mobile efforts related to loyalty. He will also continue to be responsible for marketing strategies, shopper analytics and insights, club card strategies and pricing.

February 22, 2011
Major moves at Best Buy designed to drive growth

Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

February 17, 2011
Borders files for Chapter 11

Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks.

NEW YORK -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.

February 16, 2011
Borders files for Chapter 11

Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks.

New York City -- Borders Group filed for Chapter 11 bankruptcy on Wednesday. The troubled bookseller plans to close 30%, or about 200, of its most underperforming stores during the next few weeks. The long-expected filing will allow Borders to access new capital and reorganize its operations, Borders Group president Mike Edwards said in a statement.