Marketing

Another week and another full page ad in Target’s circular touting the REDcard Rewards program launched last fall. Nothing unusual about that right? The 5% savings program has been promoted heavily since its arrival last October to the point where it is impossible to look anywhere in a store and not seen 5% Rewards signs.

San Francisco -- Williams-Sonoma said Tuesday that its board has approved a $125 million stock repurchase program.

The retailer said the new program will likely be completed by January 2012. It does not have an expiration date. The company said it had completed a $65 million stock repurchase program approved in September 2010.

Williams-Sonoma, which runs Pottery Barn, West Elm, its namesake stores and other brands, had about 105.1 million outstanding shares as of Nov. 28, 2010.

Framingham, Mass. -- The TJX Cos. said Tuesday that it has restructured its executive management as part of the retailer’s ongoing leadership succession planning.  

Carol Meyrowitz has inked another two-year employment agreement as CEO. Ernie Herrman has been promoted to president of TJX Cos. from his post of senior executive VP group president.

Meyrowitz will now have Herrman and Jeffrey Naylor, senior executive VP CFO and chief administrative officer, reporting to her.

New York City -- New York & Co. said Tuesday it has promoted current president Gregory Scott to the role of CEO, effective Feb. 12.

Richard P. Crystal, current chairman and CEO, had previously announced his impending retirement, effective Feb. 11.

Grace Nichols, who has served as a director since March 2008, will assume the role of non-executive chair of the board effective Feb. 12. Scott will remain a director on the company’s board.

HOFFMAN ESTATES, Ill. -- Sears announced that it has partnered with wedding and entertaining expert David Tutera for the debut of the David Tutera Bridal Jewelry Collection. All settings in the Eternal, Heirloom, Radiance and Legacy designs, of which the premiere collection is comprised, will be available at Sears stores nationwide as well as online at http://www.Sears.com/DavidTuteraJewelry beginning Feb. 1.

Short Hills, N.J. -- Bloomfield Hills, Mich.-based Taubman Co. announced that The Cheesecake Factory and Forever 21 will open at the company’s Mall at Short Hills, located in Short Hills, N.J.
 
Cheesecake Factory is slated to open a full-service restaurant, bakery and bar this summer. Forever 21 will open a 40,000+-sq.-ft. store in late 2011.

The Mall at Short Hills features 160 specialty stores and restaurants along with anchors Bloomingdale's, Macy's, Neiman Marcus, Nordstrom and Saks Fifth Avenue.

NEW YORK -- New York & Company announced that it has promoted Gregory Scott, president, to the role of CEO effective Feb. 12. As previously announced, Richard Crystal, current chairman and CEO, will retire from the company and its board of directors effective Feb. 11. Grace Nichols, who has served as a director since March 2008, will assume the role of non-executive chair of the board effective Feb. 12. Scott will remain a director of New York & Company’s board, which will be comprised of ten members.

Berwyn, Pa. -- Planalytics announced that Sonic Corp. has subscribed to its Business Weather Intelligence Platform. Sonic is utilizing Planalytics' Consumer InsightsSM service to analyze, quantify and manage the weather's impact on restaurant traffic and demand for certain products such as fountain drinks, frozen treats and entrees.

"Planalytics will help us better understand the impact of weather in each of our key markets," stated Barbra Castleberry, manager of marketing analysis for Sonic, which has more than 3,500 locations nationwide.