Labor & Employment

A Target veteran has joined the leadership team of Caribou Coffee.      John Butcher, who most recently served as senior VP merchandising: beauty and DermStore, has been tapped as president of Caribou Coffee. Butcher joined Target in 1997, working his way up through the ranks serving in various operations and merchandising roles, including serving as VP and general merchandise manager, electronics.     

Wages

The Chain Store Age offices will be closed July 4 in honor of Independence Day. Daybreaker will resume publishing July 5. Have a fun and safe holiday!

West Marine Inc. is going private.   The retailer of boating gear, apparel and other waterlife-related products has agreed to be acquired by New York-based Monomoy Capital Partners for $12.97 per share. The deal has a total equity value of $338 million.  Following the close of the deal, West Marine will continue to be operated independently by the company's management team.  

Walgreens Boots Alliance has announced a new Rite Aid deal, effectively ending its nearly two-year quest to acquire the Camp Hill, Pa.-based drug store chain. The divestiture agreement with Fred's Pharmacy, whereby Fred's would buy 865 stores, is also terminated.  

Kohl's has ended its search for a new finance chief.   The retailer has appointed Bruce H. Besanko to the position of CFO, effective July 10.  He will replace Wesley McDonald, who announced plans in November to retire this spring after 14 years with the company.  

Under Armour founder and CEO Kevin Plank is stepping back from his role as president.   The sporting goods company announced that retail veteran Patrik Frisk will become president and COO, effective July 10. He will have responsibility for the company's go-to-market strategy and the successful execution of its long-term growth plan and report directly to Kevin Plank, who has also held the title of president since 2010.  

Supervalu Inc. is losing its chief finance officer.   The company announced that Bruce Besanko plans to resign as executive VP, COO and CFO effective July 5, 2017 to pursue an outside opportunity.  

WD Partners has tapped a 30-years plus retail consulting and design veteran as executive VP.   Dan Stanek will serve as the business vertical leader of health & wellness for WD and work to further expand the sector.   Stanek most recently worked as chief strategy office for Ologie, and as president of FootClick, an indoor location software platform. His previous positions include executive VP of Big Red Rooster, executive VP of Kantar Retail, and executive VP of Retail Forward.  

Amazon is impacting its hometown of Seattle in ways large and small.