Finance & Capital Management

NEW YORK — Cosmetic brand Clinique has promoted Jean-Christophe Jourde to the newly created position of SVP and GM of North America. Jourde will be responsible for driving sales and market share growth for the brand in the region and will report to Ricardo Quintero, SVP and global GM of market development. 

WAYNE, N.J. — Lingering cold weather and soft sales in its electronics and entertainment categories caused Toys”R”Us’ net and comparable store sales for first quarter ended May 4 to dip. 

The company reported net sales of $2.4 billion, a decrease of nearly 8% from $2.6 billion for the quarter a year ago. The decline in net sales for the quarter was primarily attributable to a decrease in comparable store net sales, as well as a foreign currency translation impact of $67 million. 

Former Mexican president Felipe Calderón will be one of the key note speakers this fall when the Council of Supply Chain Management Professionals gathers in Denver for the organization’s annual global conference.

Menomonee Falls, Wis. -- Kohl’s Department Stores has announced plans to open a new customer service operations center in Dallas.

Expected to open in late spring 2014, the two-building, three-story, 240,000-sq.-ft. facility will support the continued growth of the company’s Kohl’s Charge program, as well as its online business, which reached $1.4 billion in sales last year following three consecutive years of more than 40%  annual growth.

Kansas City, Kan. -- Stacy Scheelk has signed on as senior director of new business development with RED Legacy. An accredited Certified Marketing Director, Scheelk’s responsibilities include developing partnerships, securing sponsorships, creating specialty retail and increasing ancillary income.

She comes to RED Legacy from CBL & Associates Properties where she most recently served as regional director of brand development.

Calabasas, Calif. -- Broader regional economic growth and improved consumer and retailer finances bode well for retail real estate investments in well-located properties, according to “The Retail Outlook” from Marcus & Millichap Research Services’ second quarter 2013 mid-year outlook for the national retail market and U.S. economy.

Corte Madera, Calif.  -- Restoration Hardware reported record financial results during the first quarter of fiscal 2013, including a net income of $2.3 million compared to a net loss of $1.3 million in the first quarter of the prior year. The company also named Richard Harvey, who spent 30 years as an executive at Williams-Sonoma, most recently as president of Williams-Sonoma brand, as chief merchandising officer of its RH Kitchen and Tableware line.

Toronto -- Sears Canada Inc. will enter into a series of transactions related to two stores within shopping centers co-owned by Oxford Properties Group and Alberta Investment Management Corporation that give the co-owners the right to require Sears Canada to vacate the properties by March 2014. The transactions, valued at $191 million, affect stores at the Yorkdale Shopping Centre in Toronto and at Square One Shopping Centre in Mississauga.

Brussels, Belgium -- Jean-Pierre Hansen is resigning from the board of directors of The Delhaize Group effective June 30. Hansen, who initially joined in 2011, said the position required more time than he anticipated and he needed to attend to commitments in the energy sector and other unspecified duties.

“I have very much enjoyed working with great colleagues on the Board and wish the company well in its future growth," said Hansen.

Framingham, Mass. -- Dawn Lepore, who has previously served as interim CEO of Prosper Marketplace and also held executive positions at drugstore.com and The Charles Schwab Company, has been named to the board of directors of The TJX Companies.

TJX is expanding the size of its board with this appointment and Lepore joins 10 sitting board members.