Finance & Capital Management

Seattle -- Starbucks Coffee Co. is shaking up its senior management team with five promotions and two new appointments. John Culver, head of the China-Asia Pacific region with more than 10 years of Starbucks experience, is being promoted to group president, China and Asia Pacific (CAP), channel development and emerging brands. Jeff Hansberry, a three-year Starbucks veteran who has worked on the channel development and emerging brands team, is being promoted to president of China and Asia Pacific and will report to Culver.

By Douglas H. Meal, David T. Cohen, and Lisa L. Rachlin, Ropes & Gray LLP

Retailers, like all businesses, constantly seek to learn more about their customers in order to serve them better. In Tyler v. Michaels Stores, however, the Massachusetts Supreme Judicial Court recently ruled that a simple step taken by many retailers to help achieve this goal – collecting the ZIP codes of their customers at the point of sale – can in some circumstances violate Massachusetts’ consumer protection statute.
   

Flipping the coin
Last August in this space, I discussed the troubling sales trends and tumbling earnings from iconic retailer J.C. Penney, mentioning that the growing pains associated with implementing CEO Ron Johnson’s ambitious brand overhaul might have been a case of “too much too soon.” Given that Ron Johnson is now ex-CEO, it’s clear that those growing pains were too much to overcome.

Von Maur got its start like many of its department store peers: An immigrant with an American dream opened a downtown store, customers came, they shopped, the brand took hold and took off.

In the case of the midwestern upscale department store banner Von Maur, the dreamer was German immigrant J.H.C. Petersen, who opened a downtown storefront in Davenport, Iowa, in 1872. He and his sons grew the business and sold it nearly a half-century later to a partnership that included two Austrian brothers -- C.J. and Cable von Maur, whose family gained full ownership by 1937.

Starbucks chairman, president and CEO Howard Schultz announced changes to the company’s senior leadership team, aimed to further accelerate the company’s global growth plans.

BEAVERTON, Ore. — Nike has promoted VP Michael Spillane to VP and GM of Nike’s Greater China geography effective June 1. 

Spillane was most recently the CEO and president of Umbro, which Nike divested of last year. Spillane replaces Craig Cheek who will move to a global role as VP and GM of Nike’s Young Athletes, where he will oversee strategy and drive growth supporting the company’s key categories around the world.

CAMP HILL, Pa. — Rite Aid's same-store sales decreased 4% in April compared with April 2012 due to an earlier Easter and introductions of new generic drugs, the retail pharmacy chain said.

The numbers released Thursday included a 3.5% decrease in sales on the front end and a 4% decrease in pharmacy sales, but the pharmacy figure included a 4.5% negative effect due to new generics. Same-store prescription count decreased by 0.2%.

Total sales for the month were $1.9 billion, a 4.6% decrease over April 2012's $2 billion.

ST. LOUIS — Build-A-Bear Workshop reported increased net income and sales the first quarter of 2013 compared to the same quarter a year earlier, despite closing some stores. The retailer’s adjusted net income rose to $2.3 million, compared to an adjusted net loss of $500,000 in the first quarter of last year.

Consolidated net retail sales were $102.9 million with 24 fewer stores compared to $95.2 million in the first quarter of 2012, an increase of 8% excluding the impact of foreign exchange. Consolidated same-store sales increased 10.4%.

Walmart’s commitment earlier this year to hire 100,000 veterans over the next five years prompted the USO to award Walmart U.S. COO Gisel Ruiz its 2013 Woman of the Year Distinguished Service Award.

Ruiz was presented with the award at the USO’s 47th annual luncheon where she said the honor was humbling and a surprise.

BRENTWOOD, Tenn. — Tractor Supply Company, the largest retail farm and ranch store chain in the United States, has announced that its board increased the company's quarterly cash dividend 30% to $0.26 per share.