Corporate Governance

By Leslie Hand, research director, IDC Retail Insights

Ron Johnson's highly publicized short tenure at J.C. Penney, or JCP, as it was rebranded, will certainly make it into the textbooks and graduate theses on what to do and what not to do when undertaking a significant retail business transformation. The primary failure was not putting customer needs first in what promised to be an excellent long term strategy. Oops — forget the customer in an omni-channel customer strategy?

What a colossal mistake!

Starbucks Coffee Company's  two-level store at the corner of Chicago's Oak and Rush Streets has a distinct Chicago feel, and reinforces the company's recycled, reclaimed and reused materials philosophy and coffee origins theme. The walls are lined with reclaimed local brick; salvaged wood from disused boxcars clads walls, ceilings and fixtures. A floor-to-ceiling diagram of the world’s coffee-growing regions, done by a local artist, is featured downstairs.

NEW YORK — A Monday report by Forbes said that former retail executive Mark Begelman has been charged with profiting off confidential information.

The SEC leveed insider trading charges against Begelman for allegedly using confidential information for his own gain, concerning the upcoming acquisition of Bluegreen Corp. by BFC Financial Corp. Begelman was COO for Office Depot, but left the company in 1995 to found Markee Recording and Rehearsal, a company geared toward musicians. 

SIDNEY, Neb. — Cabela's co-founder and chairman Richard N. Cabela will be named chairman emeritus June 5, during the company’s 2013 annual meeting of shareholders. His brother, James W. Cabela, who is vice chairman and co-founder, will be named chairman at that time.

BOSTON, Mass. — Consensus and the world’s largest exchange company, NASDAQ OMX Group, have announced keynote speakers, presenters and special presentations for the third annual Next Great Consumer Brands Conference to be held May 1 at the NASDAQ MarketSite in Times Square, N.Y.

HOFFMAN ESTATES, Ill. — An armed robber allegedly stole sensitive electronic information on pharmacy customers from a Kmart store in Little Rock, Ark., last month, the mass merchandise retailer said.

The National Retail Federation applauded a Senate vote to proceed with debate on S.743, an act to level the sales tax field for online and brick-and-mortar stores. 

NRF president and CEO Matthew Shay issued the following statement: “NRF applauds today’s Senate vote on the Marketplace Fairness Act and we commend Senators Enzi, Durbin, Alexander and Heitkamp for their skilled leadership in moving this legislation ahead.”


NEW YORK — Retailer Saks Incorporated will be closing its Saks Fifth Avenue store located in the WestShore Plaza in Tampa, Fla., May 4.

“This planned closing is in line with our strategy of using our resources in our most productive Saks Fifth Avenue stores. We regularly assess the productivity, profitability and potential of each of our stores and may determine that a closing is appropriate from time to time,” said Steve Sadove, chairman and CEO of Saks.

TORONTO, Ontario — U.S.-based specialty retail apparel chain Express has completed its move to parity pricing, in an effort to grow its customer base in the Canadian market.

Consistent North American pricing for all apparel and accessories available at the retailer will ensure that shoppers throughout the United States and Canada can enjoy the same value and shopping experience. Online shoppers will also be able to take advantage of the parities, including an $8 shipping fee, as well as free shipping on all orders totaling more than $125. 

PLANO, Texas — J. C. Penney has promoted Brynn Evanson to EVP of human resources. Evanson will lead all HR functions across stores, supply chain and the home office, including team member relations, recruiting, learning and development, compensation and benefits and talent operations. She will also join the company's executive board, reporting to CEO Myron E. Ullman.