Finance & Capital Management

ELK GROVE VILLAGE, Ill. — Topco Associates LLC has hired former Limited Brands executive Paul Matthews as the company’s EVP and chief supply chain officer, reporting to president and CEO Randy Skoda. 

Topco provides aggregation, innovation and knowledge management solutions for leading food industry member-owners and customers. Matthews will oversee procurement of the company’s corporate brand and perishable products as well as the company’s logistics, supply chain management and quality assurance areas.

OAKLAND, Calif. — Columbia Sportswear is headed to the Gartner Supply Chain Executive Conference, being held May 21-23, in Phoenix, Ariz., to share insights and best practices for deploying cloud technology alongside GT Nexus. 

Fred Pond, VP, CIO of Columbia Sportswear, and Kurt Cavano, chief strategy officer at GT Nexus, will share lessons learned from Columbia's technology approach to executing global procure-to-pay processes in which buyers, suppliers, financial institutions and other key third parties operate on the same cloud platform.

Dallas -- Kathleen Mason, former CEO of Tuesday Morning, has filed a lawsuit against her ex-employer in Dallas District Court claiming discrimination. Mason, who was fired last June, alleges that Tuesday Morning mistreated and then terminated her within months after learning she was suffering from breast cancer.

Seattle -- Nordstrom Inc. reported its first quarter net income fell a greater-than-expected 3%, hurt by weak demand for spring merchandise and softer performance in the Northeast and Midwest. The company also lowered its full-year sales forecast.

The results were a rare miss for the upscale department store chain whose shoppers have proved resilient throughout the uncertain economy.

Houston -- Stage Stores reported a loss of $6.9 million for the first quarter, compared with a loss of $418,000 for the year-ago period, as the retailer dealt with cool weather that put a damper on sales of spring apparel.
 
"The unseasonably cool weather in March and April, particularly when compared to last year's warm spring, strongly impacted our sales performance," president and CEO Michael Glazer said.

Revenue rose 4% to $378.6 million from $365.7 million. Same-store sales inched up 0.7%.
 

A huge redevelopment in Longmont, Colo., now has big new tenant names to promote. NewMark Merrill Mountain States has just named three new anchors for the redeveloped Twin Peaks Mall: Longmont’s first Whole Foods Market; a new, state-of-the-art Regal Cinemas; and Sam’s Club. The project, which is slated to open in 2014, also unveiled its new name – Village at the Peaks.
 

New York -- Brixmor Property Group has appointed Michael V. Pappagallo as president and CFO, effective May 20.

Pappagallo will play an integral role in the execution of Brixmor's long-term business and capital markets strategy.  In addition, he will lead the company's finance and accounting teams, as well as have functional oversight of its property operations, information technology, acquisitions/dispositions and investor relations efforts.

Plano, Texas -- J.C. Penney Co. reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

PLANO, Texas — J.C. Penney reported a deeper-than-expected loss of $348 million for its first quarter, compared to $163 million in the year-ago period, amid a 16.4% decline in revenue. The results came as the company seeks to undo the damage caused by former CEO Ron Johnson’s costly and largely failed makeover.

CINCINNATI — Bloomingdale’s is heading to Hawaii for the first time. It plans to open a 167,000-sq.-ft., three-level store at the Ala Moana Center in Honolulu on the Island of Oahu in fall 2015. 

The new store will be part of a redevelopment of a portion of Ala Moana, Hawaii’s premier shopping destination, by General Growth Properties. Construction will begin in 2014. The upscale chain of department stores, owned by Macy’s, will join a Macy’s store which already operates at the shopping center.