Labor & Employment

Camp Hill, Pa. -- Rite Aid projected that it would turn a profit in the first quarter of fiscal year 2014, results of which it will announce next week. The company has also moved to refinance its debt, announcing that it would buy half a billion dollars in notes using proceeds from a new loan, while also

The retail pharmacy chain said it would buy $500 million worth of 7.5% Senior Secured Notes, due 2017, using the proceeds from a $500 million second lien term loan.

The offer will expire on July 5 unless it's extended, the company said.

Foothill Ranch, Calif. -- The Wet Seal announced today that retail veteran Lesli Gilbert has been appointed executive VP, stores and operations, effective immediately. Gilbert replaces Barbara Cook, former senior VP store operations, who resigned in February.

Most recently, Gilbert was senior VP of stores at The Talbots, where she was responsible for developing the stores strategy and framework to reposition the business

FOOTHILL RANCH, Calif. — The Wet Seal has appointed retail veteran Lesli Gilbert to the position of EVP, stores and operations. She replaces Barbara Cook, who resigned as the company's SVP of store operations in February.

ORRVILLE, Ohio — The J. M. Smucker Company's board has announced that a new director nominee will be included in the company's proxy statement for election at the next annual shareholders meeting to be held Wednesday, Aug. 14.

The nominee is Robert B. Heisler Jr., the now-retired dean of the college of business administration and graduate school of management at Kent State University, former CEO of McDonald Financial Group and retired chairman and CEO of KeyBank, N.A.  

Bentonville, Ark. -- Wal-Mart Stores  held its annual shareholders meeting on Friday morning and the most noteworthy development at the event — aside from a $15 billion share repurchase authorization — was a surprise appearance and glowing comments by Hollywood heavyweight Tom Cruise.

Matthews, N.C. -- Family Dollar Stores names Brad Rogers as senior VP real estate. He replaces Keith Gehl, who retires from the company at the end of June.
   
Rogers joined Family Dollar in 1998 as a real estate manager with responsibility for new store development in North and South Carolina. Between 2006 and 2011, Rogers assumed greater roles with increased responsibilities, and in 2011, he was named VP real estate.

Vancouver, British Columbia -- Lululemon Athletica Inc. on Monday said that its CEO, Christine Day, will step down when a successor is named. The announcement comes some three months after Lululemon, in an embarrassing and very costly snafu, had to pull 17% of its trademarked Luon pants from its store shelves after they were found to be too sheer.

Plano, Texas -- Another executive hired by former J.C. Penney CEO Ron Johnson has apparently left the chain. Kristen Blum, executive VP and chief technology officer, is no longer with Penney, according to various reports that cited a note to investors by Citi analyst Deborah Weinswig. Penney has yet to officially announce her departure, which was also reported by Women’s Wear Daily.