Strategy

A search is underway for a new CEO to lead Dorel Industries recreational and leisure products segment following the departure of Robert Baird.

Until a replacement for Baird is named, Peter Woods, CFO of the recreational and leisure segment, will serve as CEO. Baird joined Dorel as president of the recreation and leisure segment in 2008 as part of a reorganization after previously serving in a senior leadership role at Philips Electronics. He also held key roles as companies such as Samsonite, Scott Paper, Bristol Myers and Procter & Gamble before arriving at Dorel.

Washington, D.C. – The Washington, D.C., city council has reportedly unanimously approved an increase in the city’s minimum wage to $11.50 per hour in 2016, up from the current hourly rate of $8.25. According to Reuters, after being raised to $11.50 the minimum wage would then be indexed to inflation.

Copperell, Texas – Alco Stores reported a growing net loss during the third quarter of fiscal 2014 compared to the same period in the prior year. Net loss totaled $16.4 million, compared to $1.4 million.

Results in the third quarter of fiscal 2014 included a non-cash charge of $9.8 million related to a valuation allowance on the company's cumulative deferred tax asset, and $1.1 million of non-recurring expenses attributable to merger activity.

North Plainfield, N.J. — The Shops at 5 in Plymouth, Mass., has named Levin Management its exclusive managing agent.

The 420,000-sq. ft. open-air shopping center takes its name from its location off Route 3 at Exit 5 on Long Pond Road. Anchor tenants include BJ’s Wholesale Club, TJ Maxx/HomeGoods and Kohl’s. Other national names include The Sports Authority, PetSmart, Pier 1 Imports, Panera Bread and IHOP.

Store growth is the ultimate goal of most chain retailers. The more locations you have, the more revenues you (generally) bring in. But sometimes adding new stores creates its own new challenges.

When San Francisco-based Philz Coffee determined about four or five years ago that it wanted to start adding to its base of five coffee shops in the Bay Area, first with more stores in California and eventually hundreds of locations throughout the U.S,, the retailer knew its existing enterprise systems would not support that type of aggressive growth strategy.

For peanut butter cup lovers, the New Year will mark not only a fresh start but also a chance to dig into Butterfinger's latest confection. Butterfinger Peanut Butter Cups, which offer a fresh spin on the classic peanut butter and chocolate combo, are now shipping to stores nationwide and will be available beginning in January.

Alco is developing a strategy to improve profitability and deliver shareholder value, following a growing net loss during the third quarter of fiscal 2014, compared to the same period in the prior year.

Net loss totaled $16.4 million, compared to $1.4 million. Results in the third quarter of fiscal 2014 included a non-cash charge of $9.8 million related to a valuation allowance on the company's cumulative deferred tax asset, and $1.1 million of non-recurring expenses attributable to merger activity.

Boca Raton, Fla. – Office Depot has formed its executive committee and leadership team.