Labor & Employment

Tustin, Calif. — Present Value Properties, a real estate brokerage and consultant, has appointed real estate veteran Bradley O. Whitaker executive VP. His responsibilities include expanding investment acquisitions and sales, develop partners and look for opportunities. In addition, he will open the firm’s first Utah office.

Dublin, Calif. -- Ross Stores’ board approved a succession plan that elevates Barbara Rentler from president and chief merchant to CEO, effective June 1, replacing Michael Balmuth who will transition to executive chairman.

Current president and COO Michael O’Sullivan will continue in his present position.

Other promotions effective June 1 include: Lisa Panattoni to president, merchandising; and Bernard Brautigan to group executive VP merchandising.

Montreal -- After a failed attempt to restructure under bankruptcy protection, Canadian fashion retailer Boutique Jacob said it will liquidate its inventory and close all 92 stores.

The Montreal-based chain, which operates the Jacob, Jacob Outlet and Jacob Liquidation banners, exited bankruptcy protection in 2011 and has been unable to return to profitability. According to a Reuters report, the company said it was hurt by a challenging economy as well as competition from international brands that have debuted in Canada in recent years.

Supervalu, the owner of Cub Foods, along with four Twin Cities-based independent grocery retailers, have each entered into definitive agreements to acquire select Rainbow Foods grocery stores. In total, they agreed to acquire 18 Rainbow grocery stores, including 13 Rainbow pharmacies and three Rainbow liquor stores in Minnesota.

Despite the Easter holiday shift, Whole Foods reported second-quarter revenue of $3.32 billion, a record increase of 10% from the prior-year quarter. But the record was not enough for Wall Street, which expected $3.34 billion.

The company’s earnings per share of 38 cents for the quarter also came in below expectations of 41 cents per share.

New York — RKF has announced that it will lease the entire seventh floor of 521 Fifth Avenue in midtown Manhattan.

With the expansion RKF will occupy 20,987 sq. ft., roughly 30% more space than the current lease. The expansion will enable the firm to increase its ranks by 25%.

McCain Foods has appointed Jeff DeLapp as president, North America, effective June 2. DeLapp takes over the role from Frank van Schaayk, who is retiring next October, and will be based in Lisle, Ill.

DeLapp has more than 25 years of leadership experience in the food industry. He was president of Lamb Weston from 2002 to 2010. Prior to joining Lamb Weston, he was president and COO at The Bruss Company (acquired by Tyson Foods).

Ticketfly, a San Francisco-based ticket distribution service founded in 2008, has hired former Amazon chief operating officer Steve Oliver to help develop the startup’s long-term strategy as it prepares to expand internationally, according to a Reuters report.

Oliver spent nine years at Amazon, leading its Canadian operations, the article stated.

San Francisco -- Intel Corp. said it has hired senior Staples executive Steven Fund to oversee its global marketing, effective June 2. He will be responsible for marketing strategy, communications, social media and advertising duties.

"As our industry and our business is changing, we need to change the way we develop, build, and market our products, and Steve is going to be a key asset for us as we move forward," CEO Brian Krzanich said in a statement on Monday.

Minneapolis -- Target Corp. announced on Monday that CEO and president Gregg Steinhafel, a 35-year-company-veteran, had resigned, effective immediately. The news comes nearly five months after the retailer disclosed a massive data breach that damaged its reputation among customers and has derailed its business.
 
Target CFO John Mulligan will lead the company on an interim basis until a replacement is named. Steinhafel will serve as an advisor during the transition.