Finance & Capital Management

MINNEAPOLIS — Michael Francis, EVP and CMO of Target, and the person charged with leading the retailer's expansion into Canada, has left the company, Target announced Monday.

“We would like to thank Michael for his many contributions and wish him the best in his future endeavors” said Gregg Steinhafel, chairman, president and CEO.

CHICAGO -- SMS Assist announced that Matthew Pitts has been named COO of the technology- driven facilities maintenance company.

Pitts previously served as VP of building services for The Home Depot. During his two decade career at the home improvement chain, Pitts created retailer’s highly regarded in-house facilities management organization, overseeing more than 2,000 stores and more than $1 billion in annual facilities maintenance spend.

Bentonville, Ark. -- Wal-Mart Stores, Inc. will webcast its annual meeting for the investment community on Wed., Oct. 12 from approximately 8:00 a.m. CDT to 3:30 p.m. CDT. 

DODGEVILLE, Wis. — Lands' End has announced the promotion of Tim Martin to COO/CFO, and Chris Kolbe to brand president.  

As the leader of operations and finance for Lands' End, Martin will oversee all aspects of financial planning and inventory management for the brand's global business. He most recently served as SVP, CFO.

Johannesburg, South Africa — A Bloomberg report on Sunday said that Massmart Holdings Ltd., the South African retailer controlled by Wal-Mart Stores, Inc., will open 23 new outlets over the next eight months, part of its plan to not only expand its coverage area but also to add jobs in the region. The plan calls for 15,000 jobs over the next three years.

The retailer also said it will repeat a price-cut promotion at its stores.

The current economic climate has us all thinking more about retail expansion than perhaps over the last two to three years, but real estate disposition/portfolio optimization isn’t just on simmer. There’s still plenty of action in that arena, and Chain Store Age talked with Spence J. Mehl, SVP of New York City-based RCS Real Estate Advisors, about the latest happenings.

Dodgeville, Wis. -- Lands' End  announced the promotion of Tim Martin to COO and CFO and Chris Kolbe to brand president.  

Martin most recently served as senior VP, CFO. Kolbe most recently served as chief merchandising and design officer for Lands' End.

Birmingham, Ala. -- Books-A-Million said Thursday it has appointed Tyler Novak as general counsel.

Novak will be responsible for overseeing all the company's legal affairs, including general corporate legal matters, intellectual property and corporate compliance, and will report to Clyde B. Anderson, chairman and CEO.