Content about Economy of the United States

July 31, 2014

Belk president and chief merchandising officer Kathryn Bufano was named president at CEO of The Bon-Ton Stores late Thursday.

Belk president and chief merchandising officer Kathryn Bufano was named president at CEO of The Bon-Ton Stores late Thursday.

July 31, 2014

Retail and consumer products veteran Brian Cornell was named chairman and CEO at Target to fill two of the three roles previously held by the company’s former top executive Gregg Steinhafel.

Retail and consumer products veteran Brian Cornell was named chairman and CEO at Target to fill two of the three roles previously held by the company’s former top executive Gregg Steinhafel.

July 31, 2014

Brian Cornell’s tenure as Target’s chairman and CEO begins on August 12. Don’t expect it to last long if his track record at other recent employers is any indication.

Brian Cornell’s tenure as Target’s chairman and CEO begins on August 12. Don’t expect it to last long if his track record at other recent employers is any indication.
 
Cornell brings to Target an impressive roster of C-level positions at big name companies — PepsiCo, Sam’s Club, Michael’s, Safeway — but the 55-year-old executive didn’t stick around for long at any of them.
 

July 31, 2014

Nordstrom has entered into an agreement to acquire Trunk Club, a personalized clothing service for men.

Nordstrom has entered into an agreement to acquire Trunk Club, a personalized clothing service for men.

Trunk Club delivers a stylist service that combines the convenience of online with a high-touch, personalized shopping experience. Nordstrom plans to leverage the acquisition to offer superior customer service and a seamless shopping experience.

July 31, 2014

Walmart kicked off its back-to-school promotional effort the way it does every seasonal selling initiative – with a big emphasis on low prices – but added a stronger digital component this year.

Walmart kicked off its back-to-school promotional effort the way it does every seasonal selling initiative – with a big emphasis on low prices – but added a stronger digital component this year.

The retailer sought to bring a bit of Black Friday and Cyber Monday magic to its back-to-school efforts with a series of price cuts and limited duration offerings designed to generate sales and drive traffic to its stores and Web site.

July 30, 2014

The Home Depot elevated 14 year veteran Ted Decker to the role of EVP of merchandising to oversee all aspects of merchandising strategy and operations.

The Home Depot elevated 14-year veteran Ted Decker to the role of EVP of merchandising to oversee all aspects of merchandising strategy and operations.

Decker had previously served as SVP of retail finance, pricing analytics and assortment planning. He assumes his new role August 4 and will report to Craig Menear, Home Depot’s president of U.S. retail.

July 30, 2014

The International Dairy-Deli-Bakery Association (IDDBA) has named former HEB executive Michael J. Eardley as its new president and CEO. Eardley succeeds Carol Christison, who passed away in March, after leading the association for 31 years.

The International Dairy-Deli-Bakery Association (IDDBA) has named former HEB executive Michael J. Eardley as its new president and CEO. Eardley succeeds Carol Christison, who passed away in March, after leading the association for 31 years.

Eardley will join the IDDBA on August 25 from HEB Grocery Company in San Antonio, Texas, where he has worked for the past 13 years in various roles with increasing responsibility, becoming the director of deli, cheese and prepared foods in 2009.

July 30, 2014

NCR Corporation, a leading global consumer transaction technologies developer, has appointed Michael Bayer as SVP and president of the company’s retail solutions division. Bayer will report to NCR chairman and CEO Bill Nuti.

NCR Corporation, a leading global consumer transaction technologies developer, has appointed Michael Bayer as SVP and president of the company’s retail solutions division. Bayer will report to NCR chairman and CEO Bill Nuti.

July 30, 2014

Same store sales continue to decelerate at Whole Foods as the nation’s leading natural and organic grocer continues to face traffic and ticket pressures caused by upstart rivals and established competitors.

Same-store sales continue to decelerate at Whole Foods as the nation’s leading natural and organic grocer continues to face traffic and ticket pressures caused by upstart rivals and established competitors.

July 29, 2014

Walmart’s sustainability efforts are benefitting fuel cell provider Plug Power Inc., which said a contract it secured with the retailer earlier this year has already been expanded.

Walmart’s sustainability efforts are benefitting fuel cell provider Plug Power Inc., which said a contract it secured with the retailer earlier this year has already been expanded.

Plug Power said it received an order from Walmart for a seventh on site hydrogen fuel cell power solution branded as GenKey.

Plug Power entered into a contract with Walmart back in February for six of its GenKey solutions consisting of GenDrive fuel cells, GenFuel infrastructure construction and hydrogen fuel supply and GenCare on-site maintenance.

July 29, 2014

Hormel Foods Corporation has elected three new members to its board of directors: Gary C. Bhojwani, chairman of Allianz Life Insurance Company of North America; Sally J. Smith, president and CEO of Buffalo Wild Wings; and Steven A. White, president, Comcast West Division.

Hormel Foods Corporation has elected three new members to its board of directors: Gary C. Bhojwani, chairman of Allianz Life Insurance Company of North America; Sally J. Smith, president and CEO of Buffalo Wild Wings; and Steven A. White, president, Comcast West Division.

“We welcome Gary, Sally and Steve to our board and look forward to their valuable input and contributions to the growth and success of Hormel Foods,” said Jeffrey M. Ettinger, chairman of the board, president and CEO of Hormel Foods.

July 29, 2014

The @WalmartLabs unit of the retailer’s Global eCommerce division has done another deal in Silicon Valley, acquiring the social shopping site Luvocracy.

The @WalmartLabs unit of the retailer’s Global eCommerce division has done another deal in Silicon Valley, acquiring the social shopping site Luvocracy.

July 28, 2014

Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.

Dollar Tree said it would acquire Family Dollar in a transformational cash and stock deal valued at $8.5 billion to create a company with more than 13,000 stores and annual sales of $18 billion.

The deal was unanimously approved by the boards of both companies and involves Dollar Tree paying Family Dollar shareholders $59.60 in cash and $14.90 in equivalent Dollar Tree shares.

July 28, 2014

Target is looking to bolster sales results in Canada by appealing to parents and students this back-to-school season, offering everything from fashion to school supplies at prices that it touts as “unbeatable.”

Target is looking to bolster sales results in Canada by appealing to parents and students this back-to-school season, offering everything from fashion to school supplies at prices that it touts as “unbeatable.”

July 25, 2014

Target opened its experimental Express format on July 23 in a community near downtown Minneapolis designed to give the retailer an early indication of expansion potential for the 20,000-sq.-ft. concept.

Target opened its experimental Express format on July 23 in a community near downtown Minneapolis designed to give the retailer an early indication of expansion potential for the 20,000-sq.-ft. concept.
 
The store is the smallest Target has ever opened and is located in an area known as Dinkytown near the campus of the University of Minnesota. Four additional locations are already planned for next year including three in the San Francisco area and one in St. Paul.
 

July 25, 2014

High-end department store Von Maur plans to open its 30th location on October 18 in Oklahoma City. The new location will be the company’s first in the state and will be part of the city’s Quail Springs Mall.

High-end department store Von Maur plans to open its 30th location on October 18 in Oklahoma City. The new location will be the company’s first in the state and will be part of the city’s Quail Springs Mall.

The new store will open in a space that used to house a Sears, and will undergo a complete facelift. Von Maur will create a brick façade on the exterior and sell brands like Brooks Brothers, Hugo Boss and Coach.

July 24, 2014

Second quarter sales at Amazon increased 23% to $19.3 billion thanks to growth of new and existing products, but the company reported an even bigger loss than it did the prior year.

Second quarter sales at Amazon increased 23% to $19.3 billion thanks to growth of new and existing products, but the company reported an even bigger loss than it did the prior year.

July 24, 2014

Walmart named Greg Foran president and CEO of its U.S. stores division to replace Bill Simon, who is leaving the company after an eight-year run.

Walmart named Greg Foran president and CEO of its U.S. stores division to replace Bill Simon, who is leaving the company after an eight-year run.
 

July 24, 2014

Channeling his inner Sam Walton this week, Walmart CEO Doug McMillon rattled the company with the unexpected appointment of a relatively unknown newcomer to replace Bill Simon as CEO of its largest and most profitable division.

Channeling his inner Sam Walton this week, Walmart CEO Doug McMillon rattled the company with the unexpected appointment of a relatively unknown newcomer to replace Bill Simon as CEO of its largest and most profitable division.

July 24, 2014

Supervalu posted $5.23 billion in net sales for the first quarter, a decrease of 0.1% from $5.24 billion last year; but president and CEO Sam Duncan expressed confidence in the company’s performance, saying it is off to a solid start across business segments.

Supervalu posted $5.23 billion in net sales for the first quarter, a decrease of 0.1% from $5.24 billion last year; but president and CEO Sam Duncan expressed confidence in the company’s performance, saying it is off to a solid start across business segments.

“Our first quarter results reflect the investments we are making this year to position the company for future success and I am pleased with our operating performance,” said Duncan.

July 23, 2014

Amazon has added hundreds of thousands of songs and hundreds of new, expert-programmed Prime Playlists to its Prime Music catalog.

Amazon has added hundreds of thousands of songs and hundreds of new, expert-programmed Prime Playlists to its Prime Music catalog.

July 23, 2014

Lowe's has launched new products for its Iris smart home solution. The move comes three weeks after Staples threw its hat into the connected home space with its own platform.

Lowe's has launched new products for its Iris smart home solution. The move comes three weeks after Staples threw its hat into the connected home space with its own platform.

The home improvement company has added a smart garage door controller, electronic pet door, window blinds controller and hose faucet timer to make it easier to cut energy costs, reduce water usage and keep the home secure while consumers balance active summer schedules.

July 22, 2014

The Global Retail Marketing Association (GRMA) advisory board has named Hhgregg’s chief marketing officer Julie Lyle chairperson for 2015. Lyle succeeds Brian Beitler, EVP and chief marketing officer, David’s Bridal, who served as chairman from 2012 to 2014.

The Global Retail Marketing Association (GRMA) advisory board has named Hhgregg’s chief marketing officer Julie Lyle chairperson for 2015. Lyle succeeds Brian Beitler, EVP and chief marketing officer, David’s Bridal, who served as chairman from 2012 to 2014.

July 21, 2014

Former CVS, Macys and Sears executive Mark Cosby has a new role at Office Depot where he will serve as president of the company’s North American business.

Former CVS, Macys and Sears executive Mark Cosby has a new role at Office Depot where he will serve as president of the company’s North American business.

July 21, 2014

Target is leaving no digital stone unturned this year as its looks engage with shoppers in the lucrative back-to-college market.

Target is leaving no digital stone unturned this year as its looks engage with shoppers in the lucrative back-to-college market.