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Labor & Employment

  • J.C. Penney adopts poison pill as protection against hostile takeovers

    Plano, Texas -- J.C. Penney Co. isn’t taking any chances. The retailer on Thursday announced it has adopted a one-year shareholder’s rights plan to protect itself against any future hostile takeover efforts.

  • Unilever executive named as Ahold HR chief

    ZAANDAM, Netherlands — Dutch supermarket-operating company Ahold has appointed Abbe Luersman as the company’s chief human resources officer.

    Ahold said that Luersman, who will report to CEO Dick Boer, will assume the new position on Nov. 1. Ahold's U.S. division operates the Stop & Shop, Giant Food Stores of Carlisle, Pa., and Giant Food of Landover, Md., supermarket banners, as well as the Peapod online grocery service.

  • Jo-Ann appoints SVP for store ops

    HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has appointed Tom Williams to SVP of store operations and human resources, replacing Ken Haverkost.

    Haverkost announced his retirement as EVP of store operations, a position he held since joining the company in 2007. He will remain a part-time employee through March 2014 to assist in the transition process.

  • CBL appoints new board of directors member

    New York -- CBL & Associates Properties has announced the appointment of A. Larry Chapman to its board of directors.

    Chapman is a retired 37-year veteran of Wells Fargo. He most recently served as group head of the bank’s commercial real estate lending business, responsible for the group’s 75 nationally located real estate loan production offices and 1,500 full time employees.

  • PetSmart raises guidance following Q2 results

    PHOENIX — PetSmart’s total sales for the quarter ended Aug. were $1.7 billion, up 5.3% from $1.6 billion for the prior-year period, showing that people are still spending money on their pets despite lingering economic challenges and cautious shopping behavior trends evident in other sectors. 

    Comparable-store sales, or sales in stores open at least a year, grew 3.4%, benefitting from comparable transactions growth of 1%. Services sales, which are included in total sales, grew 7.3% to $205 million.

  • Changing of the guard at Orchard Supply Hardware

    Lowe's expects to complete its West Coast acquisition of 72 Orchard Supply Hardware stores by the end of August. When that happens, current CEO Mark Baker will be replaced at the helm of Orchard Supply by Lowe's executive Richard D. Maltsbarger.

    Baker, a former Home Depot executive, took over the Orchard Supply job back in March of 2011. According to the press release announcing the move, Baker "informed Lowe's of his decision to accept a position as president and CEO of the Aircraft Owners and Pilots association following the closing."

  • Cisco Systems executive joins Gap board

    SAN FRANCISCO — Gap has elected Padmasree Warrior, chief technology and chief strategy officer of Cisco Systems, to its board of directors, effective Sept. 30.

    “Padma is an accomplished business leader with nearly 30 years’ experience within the technology industry, as both a strategist and innovator,” said Glenn Murphy, Gap Inc. chairman and CEO. “As we increase our investment in serving customers across all channels, Padma’s relevant expertise will be an asset to our board and management team.”

  • Tuesday Morning taps interim CEO as permanent chief

    DALLAS — Closeout retailer Tuesday Morning announced the appointment of Michael Rouleau to CEO, effective immediately. Rouleau, who was appointed interim chief executive in March 2013, will also continue to serve on the company's board of directors, which he joined in November 2012.

  • Best Buy profit tops Street, helped by cost cutting

    MINNEAPOLIS — Best Buy said it earned $266 million in the second quarter, compared with a profit of $12 million in the year-ago period, amid cost cuts. Its results beat Wall Street expectations.

    Revenue for the quarter, ended Aug. 3, edged down to $9.3 billion, from $9.34 billion last year. Analysts expected $9.13 billion. Same-store sales fell 0.6%, including a 0.4% decline domestically. Online sales rose 10.5%.

  • Penney posts wider Q2 loss, but cites positive signs

    DALLAS — J.C. Penney Co. posted a wider-than-expected loss in the second quarter on a nearly 12% drop in revenue. But even though Penney’s results were worse than expected, there were small signs that interim CEO Myron Ullman may be starting to stop the bleeding related to former CEO Ron Johnson’s failed transformation of the chain.

    The quarter was the first entirely under the watch of Ullman, who returned to Penney in April to undo the strategy put in place by Johnson, who planned to transform Penney stores into a series of branded in-store shops.

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