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Finance & Capital Management

  • Drug chain names new finance chief

    Fred's named Jason Jenne as executive VP and CFO. He will replace outgoing CFO Rick Hans, who is leaving to pursue other opportunities. Hans will stay onboard as an advisor until August 18, to ensure a smooth transition.  

  • Target CEO: Hispanics are shopping less

    An important demographic for many retailers appears to be staying home more these days.   In remarks at  Fortune’s Brainstorm Tech Conference in Aspen, Colorado, Target CEO Brian Cornell cited an 11% dip in shopping activity among Hispanic consumers in the past several months. (A Target spokesman said later he was referencing industrywide data from the NPD Group, The Star-Tribune reported.)   “There’s almost a cocooning factor,” Cornell said.  

  • Study: The most sought-after roles to transform operations are…

    Businesses are eager to better serve their clients, but most lack the skills, processes and technology needed to leverage data effectively.   In fact, 61% of U.S. companies agree that inaccurate data is undermining their ability to provide an excellent customer experience, according to “Investing in Digital Transformation: The Year’s Most Sought-After Data Roles,” a report from Experian Data Quality.  

  • Pizza giant launches aggressive hiring spree

    Pizza Hut is making big moves to improve the accuracy and reliability of its delivery experience.   The subsidiary of Yum! Brands plans to hire nearly 3,000 new drivers a month through the end of the year. The hiring effort, which will include full and part-time positions, will add approximately 14,000 new drivers across its delivery fleet, according to the company.   

  • Off-pricer remains bullish on store expansion

    Ross Stores continues to build out its store footprint at an aggressive pace.   The off-price retailer opened 21 Ross Dress for Less stores and seven dd's Discounts locations across 15 different states in June and July. The openings are part of the company's plans to add approximately 70 Ross and 20 dd's locations in 2017.   

  • Update on True Value: Reports and rumors

    Since reports began to swirl around a possible sale of True Value Company -- or at least the consideration of such a move – the Chicago-based co-op’s CEO has downplayed the story as “rumor.”   But that hasn’t stopped rival co-ops from weighing in with their own statements.   

  • Sears gets fresh lifeline from familiar source

    Beleagured Sears Holdings is borrowing yet more money from CEO Eddie Lampert's hedge fund.    Lampert's hedge fund, ESL Investments, has agreed to give the company a new line of credit, valued at $200 million. On July 13, Lampert's ESL Partners entered into a short-term line of credit loans, which carry a maturity date of 151 days and a fixed interest rate of 9.75% per year, Sears said.  

  • Troubled jewelry store giant taps 25-year P&G vet as new CEO

    Signet Jewelers, which is battling a gender-discrimination class-action case, has named its first-ever female CEO.   Signet announced that CEO Mark Light has retired due to "health reaons."  He will be succeeded by beauty and health veteran Virginia "Gina" C. Drosos, who has served as an independent director of the company’s  board since 2012, effective August 1, 2017.  
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