Corporate Governance

Walmart confirmed that its CMO, Stephen Quinn, who had held executive marketing positions with the chain for 10 years, will retire in January.

Michael Francis, Target Corp.'s former marketing guru, has been hired as a consultant. Francis spent 26 years at Target and most recently served as global brand officer for DreamWorks Animation. In August, he announced that he planned to step down from Dreamworks.

The demise of physical stores has become a familiar narrative during the holiday season, but nothing could be further from the truth according to one man better positioned than most to know.

The Ascena Retail Group is adding a seasoned retail CEO and a legal expert to its board of directors.

The parent company of Ann Taylor Loft, Ann and other banners announced three changes to its board of directors on Friday. Board member Klaus Eppler is retiring and Carl (“Chuck”) Rubin and Steven L. Kirshenbaum are joining the board.

BJ's Wholesale Club has promoted its COO to president and chief executive officer just months after recruiting him from Hess Retail Corp.

The club retailer announced that Christopher J. Baldwin, BJ's president and chief operating officer, has been named president and CEO, succeeding Laura J. Sen, who is assuming the role of non-executive chairman. The appointment is effective Feb. 1.

Jordan’s Furniture has opened a massive store in New Haven, Connecticut, and this time the retailer is putting customers on the ropes — literally.

Jordan’s, known for its larger-than-life stores that combine retail with entertainment, pulled out all the stops for the 192,500-sq.-ft. location. Some 20,000 sq. ft. of the space is devoted to entertainment attractions that include an elaborate indoor rope course, a water show complete with light and sound effects, a pizzeria and ice cream counter.

A merchant that grew from a small boutique in West Hollywood with a celebrity clientele to a multi-store operation is going out of business.

Kitson announced that it is closing its 17 stores, which are located in California, Oregon and Nevada. As of December 11, its e-commerce site had already been shut down.

Weak traffic at Saks 5th Avenue stores did not keep Hudson's Bay Company from reporting higher sales and profit in the third quarter.

For the third quarter ended Oct. 31, the company posted a profit of $1 million, compared with a $13 million loss a year earlier. Total sales increased 34% to $2.57 billion, up from $1.91 billion. Consolidated sales growth was 34.1%, up $653 million from prior year with same-store sales growth of 12.9%. But Saks Fifth Avenue logged a same store sales decrease of 3.6%.

Restoration Hardware Holdings’ (RH) innovative store growth initiatives are starting to bear fruit, as the luxury home furnishings retailer reported record sales and profits in the third quarter.

For the period ended Oct. 31, the company reported net income of $20.7 million, or 49 cents per share, compared to $19.4 million for the same period last year.

Revenue increased 10% to $532.4 million, from $484.7 million in the year-ago period. It was the firm's 23rd consecutive quarter of double-digit revenue growth. Same-store sales increased 7%.

RH's innovative growth initiatives are starting to bear fruit, as the home furnishings retailer reported record sales and profits in the third quarter.

Former Target CMO Michael Francis will reportedly serve as a marketing consultant at Walmart when the retailer’s current CMO steps down.

The Wall Street Journal reported that Stephen Quinn will retire as executive VP and CMO in January after spending nearly a decade at the Walmart. Francis, who spent 27 years with Target, is expected to join Walmart to initiate a broad marketing revamp and work closely with Quinn’s successor, The Journal said, citing a person it said was familiar with the situation.