Labor & Employment

MOORESVILLE, N.C. — Lowe's has created two new executive positions, with the goal of streamlining its operations to better serve its customers. The new positions are chief customer officer and chief operating officer, and they will be filled by current EVP business development, Gregory Bridgeford, and Rick Damron, EVP store operations, respectively. The promotions are effective May 5, and both executives will report to Robert Niblock, chairman, president and CEO.

MINNEAPOLIS — Best Buy may be dealing with all of the negative attention surrounding the resignation of Brian Dunn, but "the show must go on," as they say, and the search has begun for a new CEO. The company has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

Toronto -- Sears Canada, Inc., an arm of Sears Holdings Corp., said Friday it has completed the transaction with landlord The Cadillac Fairview Corp. to return three stores for $170 million.

The stores – located in Vancouver, Calgary and Ottawa – are slated to be exited by Sears as of Oct 31, 2012. The agreement between Sears and the landlord was first announced in March.
 

Minneapolis -- Best Buy Co. has announced the members of its CEO search committee. The company said the committee will oversee a global search process to identify internal and external candidates, including current interim CEO Mike Mikan.

As part of Best Buy’s commitment to transparency, the company said the board will also publicly announce the selected search firm and will post the position on the company website. The final search firm selection will be announced in the next few weeks.

Sam’s Club next week is set to hold the first of three unique supplier fairs designed to improve sourcing from women and minority owned firms.

The event is scheduled for April 25 from 7:30 a.m. to 6 p.m. and is designed to provide education on the Sam’s Club merchandising strategy, engage potential suppliers, strengthen relationships with diverse suppliers and identify product offerings relevant to the members that Sam’s Club serves.

NEW YORK — A report released by Bloomberg showed that household confidence improved last week to match the highest level in four years. 

The Bloomberg Consumer Comfort Index was minus 31.4 in the period ended April 15, compared with minus 32.8 over the previous seven days. The reading equaled that from two weeks earlier as the best since March 2008.

Despite the strong showing, the monthly expectations measure fell from a one-year high, showing ongoing concerns that too many Americans are still unemployed.

New York -- A report released Thursday by Bloomberg showed that household confidence improved last week to match the highest level in four years. 

The Bloomberg Consumer Comfort Index was minus 31.4 in the period ended April 15, compared with minus 32.8 over the previous seven days. The reading equaled that from two weeks earlier as the best since March 2008.

Despite the strong showing, the monthly expectations measure fell from a one-year high, showing ongoing concerns that too many Americans are still unemployed.

Minneapolis -- In a video released by Best Buy and reported by Bloomberg, Best Buy Co. interim CEO Mike Mikan told employees on Thursday that his No. 1 priority in his new role is to execute the changes the company announced last month and plan a new direction for the retailer.

“In the days and weeks ahead, I’ll be working with our leadership team on a long-term vision, a path toward the future that will connect Best Buy with customers across multiple channels while improving performance,” Mikan said.
 

Mooresville, N.C. -- Lowe's Cos. Inc. said Thursday it has promoted two of its executives to newly created positions.

Effective May 5, current executive VP business development Gregory Bridgeford been named chief customer officer. Rick Damron, executive VP store operations, has been named COO.
 

Houston - Stage Stores said Thursday it has made Michael Glazer’s role as interim president and CEO a permanent one.

Glazer, a board member for the chain, was named interim chief following Andy Hall’s resignation in March.

According to Stage chairman William Montgoris, Glazer’s familiarity with the company’s growth and expansion strategy helped him secure the permanent role. “It became clear the company and its shareholders would be best served by making his appointment permanent," Montgoris said.