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Finance & Capital Management

  • J.C. Penney’s Ullman resigns from Saks board

    New York -- In not-so-unexpected news, a regulatory filing with the SEC on Wednesday revealed that J.C. Penney’s new CEO Mike Ullman has resigned from Saks Inc.’s board of directors, effective Monday.

    Saks has not yet named a replacement for Ullman.

  • Toy maker Tomy names new CEO

    OAK BROOK, Ill. — Toy manufacturer, Tomy International has promoted Gregory Kilrea to president and CEO and Masayuki Nagatake to COO. The board of directors of Tomy Company, Ltd. has approved these appointments as Curtis Stoelting resigns from his positions as CEO and director of TOMY Company, Ltd. to pursue other business opportunities. 

    Kilrea has been with the company since 2004, having served most recently as president of Tomy International, and prior to that as the company's EVP and COO.

  • Report: Wal-Mart exec who called sales ‘total disaster’ has left

    New York -- A Wednesday report by Reuters said that Jerry Murray, the Wal-Mart finance VP who called the chain's early February sales "a total disaster" in an email made public by Bloomberg, has left the company, effective April 5.

    Wal-Mart Stores has confirmed the report, telling Reuters that it was Murray's decision to leave and that his last day at Wal-Mart was Friday.

  • RILA pushes for tax reform

    ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

  • J.C. Penney’s stock falls amid reports that Q1 same-store sales off 10%

    New York -- J.C. Penney Co.’s shares fell 12% on Tuesday to close at $13.93, and nearly reached their lowest levels since 2001, Reuters reported.

    It was a rough day for Penney as industry analysts debated the surprising decision to replace ousted CEO Ron Johnson with his predecessor, Myron “Mike” Ullman.

  • Alliance Data to be credit card provider for Barneys New York

    DALLAS — Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

  • Alliance Data acquires Barneys private label credit card portfolio

    Dallas -- Alliance Data Systems Corp. announced its retail services business has signed a long-term agreement to provide private label credit card services for Barneys New York.

  • RILA pushes for tax reform

    ARLINGTON, Va. — The Retail Industry Leaders Association said Monday via a written letter to the House Ways and Means Committee that all corporate tax preferences need to be “put on the table” so that politics can be neutralized and progress can be made.

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