Consumer Affairs & Relations

MATTHEWS, N.C. — Harris Teeter on Wednesday confirmed an earlier Wall Street Journal report that the grocer was in the process of exploring strategic options. 

ARLINGTON, Va. — The Consumer Electronics Association has issued praise for the U.S. Congress for introducing legislation to establish sales tax fairness.

New York -- Tiffany & Co. has filed suit against Costco Wholesale Corp., alleging alleges trademark infringement, dilution, counterfeiting, unfair competition, injury to business reputation, false and deceptive business practices and false advertising. Tiffany said it filed the suit “to prevent further sales of counterfeit diamond engagement rings and for damages associated with prior sales.”

Columbus, Ohio -- The Limited has established an interim “Office of the President” to manage the day-to-day operations of the business while it searches for a new CEO. The retailer said that its chief executive, Linda Heasley, who joined in 2007, is stepping down to pursue other interests effective Feb. 15.
   
The interim office will be filled by three current executives, John Buell, EVP and CFO; Nicolas Frechette, SVP and general merchandise manager; and William Acevedo, SVP of stores; who will report to the board of directors.

New York -- Richard Schulze, founder of Best Buy Co., may abandon a buyout bid and instead line up investors to take a minority position in the electronics retailer, Reuters reported.
 
Schulze informed the Best Buy board in August that he was interested in partnering with private equity partners to buy the struggling consumer electronics company. But he has been unable to get enough support from banks to finance a deal that would allow him to take it private, the report said.

Irving, Texas -- Michaels Stores has named Chuck Rubin as CEO and a member of the board of directors. Rubin is currently the president and CEO of Ulta Beauty.

Rubin will assume his new roles after a brief period of transition, at which time Michaels will discontinue the “Office of the Chief Executive Officer,” established on an interim basis in May 2012. Charles "Chuck" Sonsteby, a member of the Office of the CEO, will continue as Michaels’ CFO and chief administrative officer.

CHICAGO — Hilco Trading has named Farla Efros as EVP and COO of its SD Retail Consulting unit. The move is part of the company's strategic efforts to expand the breadth and depth of its senior management team. In her new role, Efros will be responsible for the firm’s merchandising and strategy practice area.

WAYNE, N.J. — Gerald Storch, is vacating his role as CEO of Toys"R"Us after seven years of service. He will retain his title of chairman of the board and will continue as CEO until a successor is found.

Storch joined Toys'R'Us in February 2006 after spending more than 10 years at Target in roles of increasing seniority. At Target, Storch helped develop the Super Target concept and grow the company's grocery business. Prior to joining Target, he was a partner at McKinsey & Company, specializing in retail and financial services.

EAST RUTHERFORD, N.J.  -- Health and beauty aid manufacturer, CCA industries announced that its president and CEO Dunnan Edell has died unexpectedly.