Finance & Capital Management

Haier America president and CEO Shariff Kan has stepped down and will be replaced by Adrian Micu, effective Feb. 10, according to the company.

Micu comes to Haier with more than 25 years of executive-level engineering, technology and product development experience within the appliance industry. Most recently, he held the position of VP engineering with Whirlpool Corporation.

Target’s data security breach has already cost all credit unions between $25 million to $30 million. Those numbers are expected to climb in coming weeks as more of the cooperative financial institutions report their costs and as fraud losses are incurred down the road, according to preliminary results of a survey of credit unions by the Credit Union National Association (CUNA).

Walmart U.S. President and CEO Bill Simon joined 280 of the nation's mayors in Washington, D.C., at the U.S. Conference of Mayors Meeting to announce a new fund for innovation in American manufacturing and a new supplier commitment to bring production of bikes and jobs to South Carolina.

The Walmart Foundation’s Colorado State Giving Program has awarded $321,000 to eight Colorado nonprofits that are helping to fund local programs to improve education, women’s economic empowerment, healthy eating and fighting hunger.

The organizations include We Don’t Waste, Lapuente Home, Care and Share, Kids Aid, Project Angel Heart, Women’s Resource Agency, Broadway Assistance Center and Discover Goodwill of Southern and Western Colorado.

Meijer customers donated more than $510,000 during the company’s holiday Simply Give campaign, helping food pantries throughout the Midwest restock their shelves.

Combined with a donation from Meijer, the holiday campaign raised more than $1.2 million, making it the most successful campaign since Simply Give began in November 2008.

New York -- Coach Inc.'s net income dropped to $297.4 million in the second quarter, from $352.8 million a year earlier sales in North America fell sharply during the key holiday season.

Overall revenue for the three months ended Dec. 28 fell 5.6% to $1.42 billion, with a 13.6% decrease in comparable-store sales in North America.

New York -- eBay posted a profit of $850 million, compared with earnings of $751 million a year ago, for its fourth quarter, ended Dec. 31, 2013, while revenues rose 13% to $4.5 billion, fueled by strong mobile results. In reporting its results, the company also said it has received a proposal from activist investor Carl Icahn seeking to spin off PayPal as a separate company.

New York -- Target Corp. is cutting 475 positions globally, and also will not fill 700 positions that are open worldwide.

“We believe these decisions, while difficult, are the right actions as we continue to focus on transforming our business,” Molly Snyder, a Target spokeswoman, said in an e-mailed statement, as reported by Reuters. “We will continue to invest in key business areas to strengthen our ability to compete and thrive well into the future.”

No specific details were given on the job cuts. 

Pittsburgh -- American Eagle Outfitters said that CEO Robert Hanson, would leave the company, effective immediately. He was appointed to the position in late 2011, after 23 years at Levi Strauss & Co., where he served in a number of executive roles.

Similar to many other teen retailers, American Eagle has been struggling. The company reported a profit of $24.9 million in the three months ended Nov. 2, compared to $78.6 million in the year-ago period. Revenue was $857.3 million, a decline from $910.4 million a year ago.

New York — ProHealth has signed a lease for a 10,913-sq.-ft. location at an endcap of the 187,650-sq.-ft. Glen Oaks Shopping Center in the Glen Oaks section of Queens, according to The Feil Organization, the center’s owner and manager. The lease brings the open-air center to 99% leased.

The medical services provider is renovating the façade and expanding the existing space to increase its frontage on Union Turnpike. ProHealth expects to open in March.