Finance & Capital Management

Premium denim brand True Religion named former top executives from Levi Strauss & Co., and Gap inc., to its board of directors.

The purveyor of premium products said John Anderson and Marka Hansen agreed to serve on its board. Anderson spent 32 years at Levi Strauss & Co, ultimately serving as president and CEO while Hansen previously spent 24 years at Gap and most recently served as president of Gap North America.

New York -- The Neiman Marcus Group is reorganizing its leadership structure by merging its stores and online management structure into one team as it looks to expand its presence across all channels. The change will take effect April 14.

Talk of nearshoring and a resurgent U.S. manufacturing sector weren’t enough to help the Stanley Furniture Company avoid shuttering a domestic manufacturing plant that employs 400 people.

Following steep losses last year, Stanley said it would close its 562,000-sq.-ft. facility in Robbinsville, NC., where ironically enough the company’s Young America line of Juvenile furniture was manufactured.

Lille, France – French home improvement retailer Leroy Merlin, a banner of Adeo Group, will install Pricer's electronic shelf label (ESL) system in all of its 121 stores by the end of 2015. Thirty -five store installations are planned for 2014 and the remainder during 2015.

The project value is estimated at more than $20 million. Leroy Merlin will roll out a mix of Pricer's economical segment-based ESLs along with featured graphic E-Paper-based labels throughout its stores.

Hampstead, Md. – Jos. A. Bank Clothiers posted a profit of $27.4 million for the fourth quarter, down from $28.4 million in the year-ago period. The retailer’s earnings were impacted by legal and professional costs related to its upcoming acquisition by The Men’s Wearhouse and other strategic moves.

Washington, D.C. -- The National Retail Federation (NRF) has publicly called Senate legislation aimed at increasing the federal minimum wage by 40% an anti-job tax that would lead to higher labor costs for employers and fewer opportunities for young and entry-level workers. NRF will include votes on the minimum wage as “Key Retail Votes” in its annual voting scorecard used to measure legislative support for the retail industry’s public policy priorities.

Robert M. Long, former president, CEO and chairman of Longs Drug Stores passed away March 27 due to complications, which occurred as a result of inclusion body myositis.  

Long was a well-known industry veteran having led Longs Drug Stores for more than 20 years. His retirement from the Walnut Creek, Calif.-based pharmacy retailer as CEO in 2000 marked the first time that a member of the founding family was not heading the company.

Chicago -- Claire's Stores on Tuesday said its CEO, James D. Fielding, has resigned. He will be replaced by Beatrice Lafon, currently president of Claire’s Europe, effective April 2. The specialty retailer also posted a lower profit for the fourth quarter amid a drop in sales.

Fielding joined Claire's from The Walt Disney Co. in June 2012.