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Finance & Capital Management

  • Another industry vet bids Kroger adieu

    After 44 years with Kroger, Smith’s division president Jay Cummins announced plans to retire.

    Cummins joined the company in 1972 as a clerk. His retirement will take effect April 29, the company said. A replacement to lead the 139 unit Salt Lake City-based division was not immediately named.

  • Tractor Supply makes management appointments

    Tractor Supply Company announced two management promotions. Benjamin Parrish, Jr. has been promoted to executive VP, general counsel, real estate and construction, and Kurt Barton has been promoted to senior VP, controller.

    Parrish will assume leadership responsibilities for the company's Real Estate and Construction department in addition to his previous responsibilities for Compliance, Legal, Loss Prevention, Risk Management, Safety and Stewardship.

  • Starbucks in overhaul of popular loyalty program

    It’s not going to be so easy for the 11 million-plus active members of Starbuck Corp.’s loyalty program to earn freebies.

    Starting in mid-April, the coffee giant is making a change in its “My Starbucks Rewards” loyalty program whereby members will earn points, or “stars,” based on the dollars spent on the purchase. Currently, customers earn a star for each transaction, regardless of how much they spent, and are entitled to a free item after earning 12 stars.

  • Wayfair to hire 450 for Texas service center

    Wayfair is opening a new customer service center in Texas as it scales operations to service its rapidly growing customer base.

    “Wayfair’s steadfast commitment to exceptional customer service has helped fuel the incredible growth of our business as more people discover a new and better way to shop for home furnishings,” said James Savarese, COO, Wayfair. “We look forward to expanding our operations to the Bryan-College Station area as we welcome new talent to our world-class customer service team.”

  • Executive shake-ups, lay-offs at Bebe

    Bebe stores has brought back its founder and former CEO to lead a turnaround effort that includes a 15% reduction in its corporate workforce.

    The troubled retailer announced that founder Manny Mashouf has rejoined its management team as CEO, replacing Jim Wiggett, who was hired less than two years ago. Mashouf previously served as CEO from the company’s founding in 1976 to 2004, and then again from 2009 until the beginning of 2013, when he stepped down and became non-executive chairman.

  • Most Americans not spending refunds

    Retailers used to be able to count on Americans spending every penny of their tax refund, but that’s not the case anymore according to new research from the National Retail Federation.

  • Popular New York grocery chain on brink of default

    The losses are mounting at one of New York City’s most beloved supermarket chains, the 80-year-old Fairway Market, as it battles increased competition from the likes of Trader Joe’s and Whole Foods Market. Fairway Group Holdings Corp., is on the cusp of default, and the next step could be bankruptcy court, Crain’s New York reported. The company warned investors in a regulatory filing on Feb. 5 that it could breach its loan agreements.

  • COO at Cabela's is stepping down

    One of the senior executives at Cabela’s is transitioning to an advisory role within the company.

    The sporting goods retailer announced that Michael Copeland, executive VP/COO, has decided to transition from his current position to a strategic advisory role. The transition will take place over the next month.

    Copeland joined Cabela’s in November 2007 as VP of retail operations. Since January 2010 he has served as Cabela’s COO.

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