Strategy

PLANO, Texas — Another former Apple executive has joined the ranks at JCPenney. The company announced Wednesday that Kristen Blum, a former director of supply chain and International retail for Apple Inc., has been named EVP and chief technology officer, effective Jan. 23. 

Blum reports to COO Mike Kramer, and has responsibility for the  company's JCP.com business and information technology systems.

MINNEAPOLIS — Target announced that it has temporarily suspended its efforts to sell its credit card receivables portfolio. The company said it remains committed to selling the portfolio on appropriate terms, but based on discussions with potential partners the company has determined that it is not in its best interests to finalize a transaction at this time.

NEW YORK — The National Retail Federation has announced the newest executives elected to serve on its board of directors. The announcement was made during NRF's 101st Annual Convention in New York.
Each new board member will serve a three-year term. Macy’s Inc. chairman, president and CEO Terry Lundgren was re-elected to serve another full-year as  chairman of the NRF Board. 

The new executives elected to serve on NRF board of directors include:

• Thomas Belk, chairman and CEO, Belk Inc.

QUINCY, Mass. — Stop & Shop has reintroduced its Guaranteed Value product line in an effort to help customers on a budget.

The line, which includes about 200 items, touts prices that are an average of 20% to 25% less than national brands. What's more, 60% of the items cost $2 or less. What's more, packaging for items that are part of Guaranteed Value have undergone a makeover, with the yellow, blue and red packaging being replaced with a bright orange and white design that highlights the value offered with each product.

BENSALEM, Pa. — Charming Shoppes announced that Elizabeth Crystal has joined Lane Bryant as SVP, chief marketing officer.

Crystal will develop and lead the brand positioning, marketing, and advertising strategies for the Lane Bryant and Cacique brands. She will serve as the brand strategist, working with senior leadership to elevate and expand the brand's presence, the company said.

Woodland Hills, Calif. — Great American Group, a provider of asset disposition, valuation and appraisal services, has appointed Mike Wyse to a new VP position at the company.

In the new role, Wyse will focus on generating revenue through the cross-promotion of all Great American Group’s services with an emphasis on the retail services sector. 

Richardson, Texas -- Wingstop said Wednesday that it has signed two development agreements that will result in 14 new restaurants in the Chicago area.

The multi-unit development agreements include a three-store deal with an existing franchise group and an 11-store deal with Chicagoland Wing Kings.

“We expect to double our presence in the area over the next two to three years," said Bev Rich, senior director of franchise development, Wingstop.

Wingstop currently has 19 restaurants in the Chicago area.

New York City -- The National Retail Federation said Wednesday that it has named five additional retail executives to its board of directors. Each new member, announced during NRF’s101st Annual Convention and Expo in New York, will serve a three-year term.

Beverly, Mass. -- Fantastic Sams Hair Salons said Wednesday that it has been acquired by salon owner Dessange International.

Fantastic Sams operates 1,200 company-owned and franchised salons in 46 states, and Dessange operates salons and beauty institutes in 45 countries. The acquisition of Fantastic Sams doubles Dessange’s hair salon network to over 2,000 salons, of which 1,500 are located outside of France.

New York City -- Menards is considering a new store in a Springfield, Mo., shopping mall -- as long as it isn’t included in the development’s community improvement district (CID), according to an article in the Springfield News Leader.

The Eau Claire, Wis.-based home improvement chain is planning a 162,000-sq.-ft. store in the Hickory Hills Marketplace, which levies a 1% tax on tenants to help pay back the cost of public improvements at the development.