Strategy

Goodlettsville, Tenn. - Dollar General Corp. has promoted one of its finance executives to interim CFO.

The discounter named John W. Garratt as interim CFO effective July 1. He follows David Tehle, who had previously announced his retirement in March 2015.

Garratt, who is currently the senior VP of finance and strategy, will now oversee all aspects of the company’s financial, accounting and information technology operations until a new CFO is in place.

Union, N.J. – Bed, Bath & Beyond Inc. missed Wall Street expectations for profit and same-store sales during a not-so-comfy first quarter of 2015. Net earnings dropped 18% to $158.5 million from $187.1 million, with increased selling, general and administrative (SG&A) and interest expenses offsetting higher gross profit.

Net sales totaled $2.74 billion, an increase of 3% from $2.66 billion. Same-store sales increased by 2.2%, including the negative impact of Canadian currency fluctuation.

Dallas - Bruegger's Bagels and Jamba Juice are joining forces to open nine co-branded stores in the Midwest, East Coast and New England.

The partnership will launch in September 2015 with six Bruegger's Bagels bakeries and three Jamba Juice stores to begin the rollout.

Medina, Minn. - Rockler Woodworking and Hardware has improved store workflow by implementing the ReflexisPlus and StoreWalk for ReflexisPlus task management and retail store auditing solutions. Rockler, which provides woodworking and do-it-yourself supplies, tools, and media implemented the Reflexis store execution and compliance solutions in three weeks in its 29 stores located across the U.S.

Armonk, N.Y. – IBM is launching a new event readiness services offering that will enable businesses in industries including retail to prepare for unexpected surges in online traffic and sales. IBM experts will work with clients through a series of questions that analyze the capacity of the current infrastructure in place and the potential impediments.  

Minneapolis -- The transformation of Target Corp. under the leadership of new CEO Brian Cornell continues with the departure of one of its top-ranking executives.

The company announced that Kathryn A. Tesija, executive VP, chief merchandising and supply chain officer will move into an “advisory role” effective July 6.

New York -- Dutch supermarket giant Ahold has agreed to buy Belgian rival Delhaize, creating the sixth largest food retailer in the United States. Keith Anderson, VP of strategy & insights for Profitero, and formerly a retail analyst with RetailNet Group, offers his thoughts on what led to the merger, and what it may bring.  

An ongoing senior leadership transformation at 99 Cents Only stores has put a former Kmart executive in the role of interim CEO and now the company has named a former Walmart executive as interim CFO for the second time.

Less than a month after Andy Giancamilli was named interim president and CEO, 99 Cents only named Michael Fung to the role of CFO. Both men served on the company’s board of directors with Giancamilli in the role as chairman.

E-commerce solutions provider Digital River Inc. has named a Groupon executive as its next CFO.

Digital River has announced that Hoke Horne has joined the company as chief financial officer. In this role, Horne, who has more than 20 years of financial experience, will be responsible for the company’s accounting, finance, tax, corporate development and enterprise operations activities.

Dollar General Corp. has promoted one of its finance executives to serve as interim chief financial officer.

The company says John W. Garratt will serve as interim chief financial officer effective July 1. He follows David Tehle, who had previously announced his retirement in March.