Corporate Governance

This year, the National Retail Federation has chosen Chicago’s Art Potash, owner of Potash Markets, as its first Retail Champion of the Year. Potash was recognized at NRF’s annual Retail Advocates summit on Capitol Hill.

Christopher & Banks has promoted Peter G. Michielutti to EVP, COO and CFO, just a day after the company named former National Stores executive Lynn C. Derry as SVP and general merchandise manager.

The move is part of the company’s growth strategy.

Michielutti will be responsible for the company’s finance, accounting, internal audit, investor relations, real estate, tax, risk management, information technology and supply chain and logistics functions. He joined the company in April 2012 as SVP and CFO.

Conn’s has appointed William E. Saunders Jr. to its board of directors. Saunders will also become a member of the audit committee and the nominating and corporate governance committee.

Regional department store operator Belk wasted no time filling its president and head merchant position after Kathryn Bufano vacated those positions to become CEO of The Bon-Ton Stores.

Within minutes of Bon-Ton’s announcement that it had hired Bufano, Belk named David Zant president and chief merchandising officer, effective August 11. Zant has served as EVP and general merchandise manager of men’s, home and kids since 2008 and in his new role will report to Tim Belk, chairman and CEO of the 299-unit chain.

Retailers and suppliers who already operate in China or are looking to expand there may want to contact Kurt Salmon following several key hires by the consulting company.

The management consulting firm’s Retail and Consumer Products Group in China said it hired Hao Li and Ke Chen as partners.

Staples has teamed up with Fundable, a business crowdfunding platform, to launch a new contest called Crowd2Shelf, which invites entrepreneurs and small businesses to leverage crowdfunding for a chance to sell their products in Staples stores as well as online.

The Wet Seal named Christine Lee EVP and chief merchandising officer, as the retailer of young women’s apparel looks to regain its appeal with core shoppers and reverse several quarters’ worth of double-digit same-store sales declines.

Lee will join Wet Seal on September 3 and in her new role report to company CEO John Goodman. Lee previously served as SVP and general merchandise manager at Pacific Sunwear since 2010. Prior to Pac-Sun, she spent 18 years with Urban Outfitters where she began her career as a sales associate.

Target’s expansion of its troubled Canadian division remains on track as new chairman and CEO Brian Cornell prepares to assume leadership of the company in August.
 
The new stores are located at Erin Mills Town Centre in Mississauga, Ontario; Park Place in Barrie, Ontario and Carrefour Candiac in Candiac, Quebec. The Barrie and Candiac locations are new buildings. Earlier this year, Target opened three locations in Canada, and has plans to open three more later this fall, bringing this year’s total to nine and overall total to 130.

Publix Super Markets and Weis Markets reported respectable second quarter sales growth, but profits were harder to come by.

Publix, the nation’s fifth largest supermarket chain, said sales for its second quarter increased 6.6% to $7.5 billion, with 1.3% of the gain related to the timing of Easter. Same store sales increased 6.3%. Despite the top line improvement, Publix said profits increased slightly less than 1% to $404.1 million from $400.9 million while earnings per share increased by a penny to 52 cents.

York, Pa. -- The Bon-Ton Stores, Inc. announced the appointment of Kathryn Bufano to the position of president and CEO, effective Aug. 25. Bufano has served as the president and chief merchandising officer of Belk Inc. since 2010.

Bufano replaces outgoing president and CEO Brendan Hoffman, who announced his resignation.