Finance & Capital Management

Macy’s has added Annie Young-Scrivner, EVP of Starbucks Coffee Company and president of its Teavana business, to its board of directors.

West coast retailer Smart & Final could be heading East soon thanks to big plans for a warehouse club-like concept called Extra it believes has nationwide potential for more than 1,250 stores.

Kevin Holt was named CEO of Delhaize America to oversee U.S. operations that account for 60% of Belgium-based retailer’s annual sales of $28 billion.

Green Dot Corporation has hired Thien Truong as SVP of business development and sales. Truong comes to Green Dot from American Express, where he most recently served as VP of retail and mall channels for the U.S. Payment Options group.

While at American Express, Truong led the expansion of the brand's prepaid solutions, including the nationwide launch of its prepaid card, Serve.

Latham, N.Y. -- After announcing the realignment of corporate management earlier this month, DWM Facilities Maintenance announced its newly developed Service Enhancement Plan (SEP) to better serve the needs of its existing clients and drive long-term growth. In this strategic shift, DWM will expand the Client Lead role and add multiple account manager positions.

Boston – The Massachusetts House of Representatives has approved a bill that would gradually raise the state’s minimum wage from its current hourly rate of $8 to $11 by 2017, which would make it the highest state minimum wage in the country.

The state Senate has already approved the bill, which is expected to be approved by Gov. Deval Patrick (D) after a procedural Senate vote. Under the legislation, the minimum wage would rise to $9 per hour on Jan. 1, 2015; to $10 on Jan. 1, 2016; and finally to $11 on Jan. 1, 2017.

Wayne, N.J. – Toys “R” Us, Inc. announced that it has named Michael J. Short executive CFO, effective June 23.
 
Short, 53, a seasoned finance executive with broad retail and corporate development experience, was most recently executive VP and CFO of AutoNation for seven years.
 

Beaverton, Ore. - John Donahoe, 54, president and CEO of EBay Inc., has been appointed to the board of directors of Nike Inc. Donahoe joined EBay in 2005 as president of EBay Marketplaces, and was appointed president and CEO in 2008.

Brussels – Major multinational retailers such as Starbucks and Apple will have to start paying higher taxes in Europe, thanks to a move by the European Union (E.U.) to end certain tax breaks it has now defined as “state aid,” which is prohibited by E.U. bylaws. These breaks, which member nations including Ireland, Luxembourg, and Netherlands have used to allow some types of profit to be classified as tax-deductible debt, had come under fire from other E.U. nations and the U.S.

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, will open its first store in New Jersey, in the town of Ewing, on June 28.

Including this new location, dd’s Discounts will operate approximately 140 locations in 11 states. The company is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.