Corporate Governance

Christopher & Banks is preparing to roll out its new missy-petite-women (MPW) store concept at 37 stores, after successfully testing the retail strategy at 20 locations across the US last year. The retailer plans to convert a total of 190 stores by the end of this year.

Foothill Ranch, Calif.  -- The Wet Seal announced today that its CFO, Steve Benrubi, has resigned. He will remain with the company through Dec. 1 to assist with the transition. 

The retailer said it will start the search for a new CFO.

“I thank Steve for his service and loyal dedication to Wet Seal over the past nine years. Steve was an instrumental leader through many challenges and successes throughout his tenure,” said Wet Seal CEO Ed Thomas.

Dublin, Calif. - Ross Dress for Less will open two new stores in Hawaii on Oct. 10. The stores are located in Kukui Grove Center in Lihue, on the island of Kauai, and the Kahala Mall in Honolulu, on the island of Oahu.  

These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

The Bon-Ton board of directors has added Beth Grumbacher, daughter of board chairman and strategic initiatives officer Tim Grumbacher, to its ranks, expanding the number of members to 10.

Walgreens has partnered with WebMD Health for an initiative to help improve health and wellness in America by helping and incenting consumers to make healthier choices at home, work and on-the-go.
 

Seattle -- Kitchenware retailer Sur La Table has appointed industry veteran Diane Neal as its new CEO. She succeeds Jack Schwefel, who has left the company to pursue other opportunities after serving as Sur La Table’s CEO since 2007.

Neal served as CEO and president of Bath & Body Works from 2007 to 2011. She currently serves on the boards of several retail companies, including Abercrombie & Fitch Co. and Fossil Group Inc. Neal also held leadership positions at Gap and Target.

San Francisco - Williams-Sonoma will reopen a retail store and cooking school in Sonoma, California, on Oct. 4, in the same location where the company opened its first store opened almost six decades ago. The timing also coincides with the 99th birthday of Chuck Williams, the company’s founder, on Oct. 2.

Boston – Online home furnishings retailer Wayfair Inc. launches its initial public offering (IPO) today. The online home furnishings retailer is offering 11 million shares of common stock at $29 per share, which is above Wall Street projections.

The share offering includes 10.5 million shares of Wayfair stock and 500,000 shares from selling stockholders. Wayfair will not receive any proceeds from the selling stockholder shares, meaning the company should raise about $304.5 million in the IPO.