Marketing

I have to admit it: I was shocked when I heard the news this week that Glen Senk, the widely-admired CEO of Urban Outfitters, was resigning.  Sure, the company wasn’t coming off the best of years, having battled lackluster sales throughout much of 2011. A series of fashion misses — nothing new in the always dicey world of women’s apparel — had taken their toll on profit as the retailer sought to clear slow-moving merchandise with deep discounts.

New York City -- Retail companies are experiencing a period of sustained turnover at the top, according to the a new report by Russell Reynolds Associates, which examined turnover and recruitment trends between January 2006 and April 2011 at 81 retail chains headquartered in the United States with annual revenues of $1 billion or more.

The study,” A Perfect Storm: CEO Challenges in Retail,” found that 59% of the retail companies studied experienced a change in CEO leadership during this five-year period. 
In other findings:

BRUSSELS — Belgian supermarket operator Delhaize Group, which operates the Food Lion, Bottom Dollar Food, Harveys, Hannaford Supermarkets, Reid's and Sweetbay regional banners in the United States, said Thursday it will close 113 Food Lion stores and eliminate the Bloom banner as part of a reorganization. The Fool Lion stores slated for closure are primarily in markets in which the company has the least store density.

The Germans didn’t know the precise landing point of the allied of invasion of Europe, but Walmart now knows where Target plans to launch its assault on the Canadian market.

SAN FRANCISCO — Williams-Sonoma Inc. said Thursday it has cut its fiscal Q4 earnings outlook below Wall Street expectations due to heavy holiday promotions levels.

The company said it had to offer discounts to entice shoppers this holiday season. Although earnings guidance has been reduced to below expectations, Williams-Sonoma’s revenue outlook remains in line with Wall Street, trimmed to a range of $1.24 billion to $1.26 billion. The company had previously expected revenue as high as $1.27 billion.

MINNEAPOLIS — Target's board of directors has approved a new $5 billion share repurchase program, which will be implemented upon the completion of the company's current $10 billion program.

Target said while it expects to complete its current program early this year, it expects to complete the new $5 billion authorization in the next two to three years, saying the program "represents an opportunity to apply excess cash flow to what [the company believes] will be an attractive long-term investment."

Roughly 50,000 acres of additional wildlife habitat across the United States will be preserved in 2012 as part of Walmart’s Acres for America program.

The company announced awards to support projects in California, Colorado, Florida, Georgia, Hawaii, North Carolina and Tennessee as part of the Acres for America program that began in 2005 with a $35 million commitment to purchase and preserve one acre of wildlife habitat in the U.S. for every acre of land developed by the company through 2015.

Hoffman Estates, Ill. -- Sears Holdings Corp. confirmed Thursday that John Goodman, its chief of apparel and home division, has resigned the company, effective immediately.

Goodman was hired two years ago as executive VP of apparel and home, charged with turning around the retailer’s clothing business. His departure, which Sears says happened last week, coincides with the Jan. 3 arrival of Ron Boire, the former Brookstone president and CEO, as executive VP and chief merchandising officer for Sears and Kmart brands.

Framingham, Mass. -- Staples said Thursday it has appointed Kirk Saville as VP global communications, charged with overseeing Staples’ internal and corporate communications, marketing, public relations, community relations and corporate events.

Saville, who joins Staples from The Hershey Co. where he was VP corporate communications, will report to Steve Fund, Staples senior VP global marketing.
 

Plymouth Meeting, Pa. – Philadelphia-based Pennsylvania Real Estate Investment Trust announced that Charming Charlie will open a new store at Plymouth Meeting Mall, located in suburban Philadelphia.

The new 12,000-sq.-ft. store is slated to open spring 2012. It completes the center’s recently developed outdoor lifestyle retail wing, which is anchored by Whole Foods Market and Café and features Loft, Orvis, Chico’s, Coldwater Creek, Jos. A Bank, Olly Shoes and Massage Envy.