Finance & Capital Management

Greek Yogurt leader Chobani hired 18-year Procter & Gamble finance executive Dipak Golechha to serve at its CFO reporting to founder and CEO Hamdi Ulukaya.

Golechha replaces former Chobani CFO James McConeghy who stepped down in November, the company said. His successor Golechha spent the past 18 years in finance roles at P&G including CFO of the company’s global snacks division.

Evansville, Ind. – Shoe Carnival had a generally disappointing third quarter fiscal 2013, with net income falling 11% to $10.9 million from $12.2 million. Net sales also declined 3.5%, from $244.4 million to $235.8 million.

Shoe Carnival attributed part of the year-over-year decline to a shift from a 53-week to a 52-week fiscal year, which resulted in one fewer week of back-to-school shopping activity in the third quarter and about $21.2 million less in sales.

New York -- Investor Engaged Capital LLC has urged Abercrombie & Fitch to start a search for a new chief executive officer and consider selling the company, Bloomberg reported. The company owns less than 1% of the retailer’s shares outstanding.

Leading global beauty company Coty has appointed Patrice de Talhouët as CFO. He will replace Sergio Pedreiro who will stay on at Coty through March 2014 to provide a seamless transition for de Talhouët, as well as to complete Coty's fiscal 2014 second quarter earnings release.

Dan Sullivan was elevated to the role of CFO at Ahold USA following the departure of Paula Price.

Price spent nearly five years there, but decided to take her career in a new direction, according to a statement by the supermarket operator, subsidiary of Netherlands-based Royal Ahold and owner of the Stop & Shop and Giant Food Stores chains. Price will lecture at a leading university on leadership and technical topics related to her unique business journey in addition to complementing her existing corporate and non-profit board positions, according to the company.

Omaha, Neb. – Gordman’s Stores reported declining net income even as net income grew in the third quarter of fiscal 2013. Net income for the third quarter of fiscal 2013 was $1.1 million, down 72.5% from net income of $4 million in the third quarter of the prior year.

 Chicago -- When compared to “Black Weekend” last year, brick-and-mortar retail sales between Thanksgiving and Sunday, Dec. 1 increased 1% as shoppers spent an estimated total of $22.2 billion across the four days. However, retail shopper traffic decreased by 4%, to an estimated 1.8 billion store visits, according to new data from ShopperTrak.

Plano, Texas  -- J. C. Penney said that its same-store sales rose 10.1% for the fiscal month ending November 30, 2013.  The retailer's stock was up 4.6% to $10.57 percent in after-hours trading Tuesday.