Strategy

Fort Myers, Fla. -- White House|Black Market, a division of Chico's FAS announced that Liz Edmiston has been named senior VP, general merchandise manager for White House|Black Market, effective Feb. 28.

Edmiston joins White House|Black Market from Tory Burch, where she served as VP merchandising. She has also served as VP merchandising for Victoria's Secret.
 

New York City --- The Knot, a media company that targets brides-to-be and pregnant women, said Monday that Macy's has sold back its 10.7% stake in The Knot for $37.7 million.

The Knot did not give a reason for the repurchase and said it is part of a previously announced $50 million buyback plan.

The sale doesn't affect the companies' advertising and wedding registry agreements: The Knot will continue to direct wedding-minded readers to Macy's and Bloomingdale's registries, and Macy's will keep advertising in The Knot's media properties.

Target’s longstanding pricing philosophy of remaining within a few percentage points of Walmart remains intact, according to the most recently monthly pricing survey from Credit Suisse. The firm looks at prices on a basket of goods in Dallas and Chicago each month, and in January it revealed the gap between Walmart and Target had widened to 3.9% from 3.7% in December.

NEW YORK -- The Knot,  a media company devoted to weddings, nesting and babies, announced that it had repurchased all shares in the company owned by Macy’s Inc.

MIDDLEBURY, Conn. -- Timex Group announced that it has named Gary Cohen president and CEO of the company. Cohen will also join the company’s board of directors.

“I feel honored to lead one of the world’s largest and most iconic watch companies,” Cohen said. “I look forward to developing new business opportunities across our extensive portfolio of brands in both developed and emerging markets worldwide.”

Beaumont, Texas -- Electronics and appliances retailer Conns announced Monday that its president and CEO Timothy L. Frank has resigned the company.

Conns named Theodore M. Wright as the interim CEO and president, and has launched a search for a permanent replacement.

Frank has led the company as president and CEO since June 2009; he has been president since April 2006, and previously served as COO and senior VP retail.

Frank left to pursue other opportunities, the company said.

Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending in the United States in January edged up 0.2%, curbed by increased food and gas prices.

The results missed Bloomberg News forecasts and represented the smallest gain since June.

Incomes beat projections by climbing 1%, according to the report, reflecting the tax-cut compromise reached by President Obama and Congressional Republicans in December, and inflation remained below the Federal Reserve’s long-term forecast.

San Fransciso -- Gap credited rising sales abroad, online and at its Banana Republic and Old Navy chains for helping to boost its fourth-quarter net income rise 3.7%, beating analysts expectations. However, the chain issued an annual profit forecast that fell short of expectations, saying its operating profits would be squeezed as it grapples with soaring costs of cotton and other raw materials.

Gap also announced that it plans to buy back $2 billion in shares, on top of recent repurchases totaling $2.6 billion.