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  • RILA adds Sears, 7-Eleven chiefs to board

    Washington, D.C. -- The Retail Industry Leaders Association announced Thursday it has added two retail industry executives to its board of directors during its semi-annual meeting held this week in Washington, D.C.

    Joining the board are Louis D’Ambrosio, president and CEO of Sears Holding Corp., and Joseph DePinto, president and CEO of 7-Eleven.

  • Two new executives join RILA board

    WASHINGTON — The Retail Industry Leaders Association announced that Louis D'Ambrosio, president and CEO of Sears Holdings and Joseph DePinto, president and CEO of 7-Eleven, have been named to its board of directors.

  • Report: Rate of CEO dismissals on the rise

    New York City -- A report released Thursday by The Conference Board said that the rate of dismissal of CEOs in the S&P 500 due to disciplinary actions has increased in recent years, while 25% of boards of directors facing a chief executive succession have opted for an outside hire.

    According to the 2011 CEO Succession Report, 51 CEOs in the S&P 500 left their post in 2010, making the rate of CEO succession approximately 10%, consistent with the average number of annual succession announcements from 2000 through 2009.

  • H&M profit drops 18% on high costs

    STOCKHOLM, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

    The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

    Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

  • Readers Speak Out: Is Fifth Ave. real estate worth the expense?

    In the June 9 edition of SiteTalk, we referenced a survey that found Fifth Avenue in Manhattan to be the most expensive place in the world to operate a store -- and asked you if it was worth the expense. Here is what one reader had to say.

  • NRF supports patent provision

    WASHINGTON — The National Retail Federation announced that it has sent a letter supporting Section 18 of H.R. 1249, the America Invents Act from NRF SVP government relations David French to House Judiciary Committee Chairman Lamar Smith, R-Texas, Ranking Member John Conyers, D-Mich., and other members of the committee. 

  • Duck Head returns to retail

    NASHVILLE, Tenn.  — Nashville Apparel Company announced that it is re-introducing its Duck Head brand to the retail market in time for the back-to-school season.

    Originally founded in 1865 by Nashville-based O'Brien Brothers, Duck Head was popular in the 1980s and 90s.

  • H&M profit drops 18% on high costs; plans 178 new stores in second half

    Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

    The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

    Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

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