Strategy

J.C. Penney is in the very beginning of its transformation. But the first component of the strategy — a new pricing model that jettisoned hundreds of promotions in favor a three-tier model — in already in place. And not surprisingly, experts are weighing in.

Redmond, Wash. -- REI (Recreational Equipment, Inc.) promoted Bill Baumann and Brad Brown to senior VP information technology, and e-commerce and direct sales respectively.

In addition, Kathleen Peterson has been named VP of REI Private Brands.

MINNEAPOLIS — Target has brought in someone with both advertising and retail experience to oversee its marketing efforts. The company announced that Jeffrey Jones, II has been named as the company’s EVP and chief marketing officer, effective immediately. 

NEW YORK — Whole Foods Market is leading charge to promote the sale of sustainable seafood by becoming the first national grocer to stop selling red-rated seafood. The company announced that, beginning this Earth Day (April 22), it will no longer carry red-rated, wild-caught fish in its seafood departments. 

GRAND RAPIDS, Mich. — Mass merchandise chain Meijer has acquired a Michigan-based dairy, the company said.

Meijer announced the purchase of Bareman's Dairy, a family-owned company based in Holland, Mich., and the intention of investing more than $8 million into expansion of the plant.

IRVING, Texas — After much speculation, Michaels Stores Friday confirmed that it is has filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. According to the filing, the company proposed to raise $500 million in the IPO. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

Brentwood, Tenn. -- Hobby Lobby International has named its first female president, hobby industry veteran, Debra Love.

Love has been at Hobby Lobby since 2009 when she joined as VP IT and communications, and most recently served as executive VP.
 

Walmart chief merchandising officer Duncan Mac Naughton was back in Canada earlier this week at the CIBC World Markets Retail and Consumer Conference in Toronto sharing a message of improved traction and accelerating momentum.