Finance & Capital Management

DSW Inc. has promoted its omnichannel retailing chief to be its new CEO as the company positions itself for long-term growth.

The company said Roger L. Rawlins, executive vice president and CIO, will succeed Michael R. MacDonald as CEO effective Jan. 1. MacDonald, who is retiring from DSW and from the board of directors, will remain with the company through the end of the year to help ensure a smooth transition. Rawlins will be appointed to the DSW board effective Jan. 1. 

American Eagle Outfitters has entered into an acquisition that could eventually see it open hundreds of new stores, and also enter a more upscale market. The teen apparel retailer has acquired upscale menswear brand Todd Synder, along with Snyder’s Tailgate Clothing Co., a vintage sports-inspired brand that operates a college-town store concept. American Eagle sees the potential to open as many as 200 Tailgate stores at universities nationwide, starting with Southeastern Conference and Big Ten colleges, according to the New York Times.

The New York Times is reporting that Texas grocery chain HEB is planning on distributing some 15% of the company’s shares to employees who are over 21 and have worked at least 1,000 hours in a calendar year. “So many in retail are competing in the race to the bottom, and people are the largest cost. So it seems logical to cut people, and lots of folks are doing it,” H-E-B president and CEO Craig Boyan said. “We think that’s a trap. We believe the race for the bottom cheapens the American experience.

Whole Foods Market is adding a Target veteran with experience in technology and omnichannel marketing to its executive leadership team.

The grocery retailer announced that it has named Don J. Clark global vice president of purchasing for non-perishables.

AutoZone is making some changes to its leadership as the company positions itself for growth and expansion.

The company announced the following promotions:

• Phil Daniele, VP, Commercial Support, promoted to senior VP, commercial
• Bill Hackney, VP, merchandise pricing & analysis, promoted to senior VP, merchandising
• Jim Griffith, VP, store development promoted to senior VP, store operations
• Rod Halsell, VP, distribution promoted to senior VP, supply chain

Texture Plus, the largest U.S. manufacturer of high-impact textured faux wall panels, urged the United States Senate and House of Representatives to quickly pass the “Restaurant and Retail Jobs and Growth Act.”

“Retailers and restaurants depend on remodeling their locations every five years to stay competitive,” said Brian Kampe, CEO. “The standard 39 year depreciation for building remodeling makes those improvements a difficult tax burden.”

Whole Foods Market is adding a Target veteran with experience in technology and omnichannel marketing to its executive leadership team.

The grocery retailer announced that it has named Don J. Clark global VP of purchasing for non-perishables.

“He is a proven leader in the retail industry with a clear track record of delivering results. His core values align very well with our company’s, and we are confident that Don will execute a range of innovative strategies that help take our non-perishables business to the next level.”

99 Cents Only Stores has appointed a new CFO who has been a veteran retail leader for Kroger and Albertsons.