Heath E. Combs -- Furniture Today, January 29, 2007
Kohl's Home Exec Capuano Resigns
Chris Capuano has resigned as Kohl's executive vp, gmm of home. Vicki Shamion, vp, public relations, said that Capuano, who joined Kohl's in 2004 from Federated, had resigned "for personal reasons, and will relocate to California." Shamion told HTT, "The decision was made prior to Christmas" by Capuano and communicated to the company at that time. Kohl's "will make an announcement within a very short period of time" concerning a successor to the position.
Wal-Mart Opens 70 Stores
Wal-Mart Stores has opened its most-ever new U.S. locations in a single month this January, with two Neighborhood Markets, five discount stores, and 63 supercenters, (of which 22 are relocations) in 30 states. From architecture to product and ad mix, the $316 billion retailer is stressing micro-merchandising, "going to great lengths to understand the wants and needs of customers in specific regions," said Santiago Roces, senior vp, store innovation and format development.
Sears Makes Exec Changes
Best Buy exec John Walden has joined Sears Holdings as executive vp, chief customer officer, reporting to chairman Edward Lampert. Walden was most recently evp of the Customer Business Group at Best Buy. At Sears, he will be responsible for new business development and customer-focused strategies; the areas of services, marketing, and direct commerce will report to Walden.
The retailer also has begun a search to fill the cfo position, as it announced the departure of evp and cfo Craig Monaghan. In the interim, evp and chief administrative officer William Crowley will assume cfo duties. Crowley had been cfo of the $55 billion company prior to the arrival of Monaghan last September.
Shareholder Group Targets Blair
A shareholder group led by investment firm Golden Gate Capital and its subsidiary Appleseed's Topco has made a bid to acquire Blair Corporation, a $450 million direct-to-consumer softlines retailer. The group reported to the Securities and Exchange Commission that it collectively owns 8.1% of Blair's common stock. Appleseed's offered to purchase the company for $37.50 per share.
TJX Names Gilbert Top Marketer
Off-price giant The TJX Companies named John Gilbert evp and chief marketing officer. Gilbert, who was most recently vp for marketing at Dunkin' Donuts, previously held senior marketing positions with Kentucky Fried Chicken, Carlson Restaurants Worldwide, General Cinema Corporation, and PepsiCo.
Furniture Today's Ray Allegrezza Speaks with Stephen Bogart about Fine Furniture's New Bogart Line