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Carrefour's incoming CEO to take helm early
Paris -- The world’s second largest retailer behind Wal-Mart said Thursday that its leadership will change hands earlier than planned. France's Carrefour said that current CEO Lars Olofsson had retired at a board meeting on Wednesday, and that incoming chief Georges Plassat will take over as chief executive immediately.
Plassat joined Carrefour last month as COO. He was supposed to make his CEO transition effective June 18. He will take charge of an aggressive turnaround effort intended to reverse years of underperformance.
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Payless puts best comps foot forward in Q1
TOPEKA, Kan. — Net sales at Collective Brands during the first quarter increased 5% to $912.1 million over the same period last year, driven in part by an 8.1% increase in comparable-store sales. The company reported net income of $33.2 million, or 54 cents per share, compared with $26.4 million, or 42 cents per share, in the first quarter of 2011.