Corporate Governance

New York City -- The second day of J.C. Penney Co.’s launch event in New York City revealed the retailer’s long-term financial plans to generate profit and shareholder value while reinventing itself.

COO Mike Kramer outlined the company's financial outlook, including an enhanced profit formula derived from the simplified business model unveiled the day before, based on a new three-tier pricing strategy, newly organized promotions and an overhaul of the merchandise assortment.

Paris -- A Thursday report by the Wall Street Journal said that French retailer Carrefour SA may hire French apparel group chief Georges Plassat to replace current CEO Lars Olofsson. WSJ cited unnamed sources close to the situation.

According to the report, Plassat could replace Olofsson as early as next week.

Plassat is head of Vivarte SA, in which he is also a shareholder.

Carrefour and Vivarte have not commented on the matter.

Arlington, Va. -- The Retail Industry Leaders Association on Thursday released a first-of-its-kind retail sustainability report discussing retail's environmental, social, and community impacts.

"As one of the leading industries to embrace sustainability, it is becoming a core consideration for the retail industry," said Adam Siegel, RILA VP of sustainability and retail operations. "Retailers are working to incorporate sustainability into their strategy, operations, workforce engagement, and connection to consumers and communities.”

New York City -- The Deloitte Consumer Spending Index slightly dropped in December despite small improvements in three-out-of-four components.

The index — which is comprised of tax burden, initial unemployment claims, real wages and real home prices — fell to 1.86 from a reading of 1.93 the previous month. Because of this drop, the ability for consumers to continue to spend at the rates seen in 2011 may be in question, Deloitte said.

Framingham, Mass. -- Staples announced the opening of a new e-commerce innovation center in Kendall Square in Cambridge, Mass. The office will house teams responsible for designing and implementing innovative new e-commerce solutions for the business customers who shop Staples websites and stores.

Indianapolis -- The Finish Line said Thursday it has appointed Jay Custard as VP of digital marketing for the company.

Custard’s responsibilities include leading and directing corporate strategies involving digital customer acquisition, retention and superior customer satisfaction, as well as developing new strategies to support future growth.

He was previously VP of e-commerce, global, for Crocs.

New York City -- A special Leadership Workshop on negotiating techniques will kick off Chain Store Age’s 48th annual SPECS (store planning, equipment, construction and facilities seminars) Conference. The industry’s leading retail store development event, SPECS will be held March 4 - 7, 2012, at the Gaylord Palms Resort in Kissimmee, Fla.

WEST DES MOINES, Iowa — Hy-Vee has introduced a mobile application that it said could make locating pie crust in its stores as easy as saying "pie."

The supermarket chain announced the release of the app, which allows customers to locate products, browse ads, search for recipes, build shopping lists, shop and interact with the company through social media. The app is built on the AT&T Mobile Enterprise Applications Platform and uses Taqtile Mobility's Shingle solution.

ALISO VIEJO, Calif. — Buy.com has announced that Bernard Luthi, a 15-year veteran of e-commerce, technology and consumer electronics, has joined the company as chief marketing officer. Previously, Luthi was VP marketing, web management and customer service at Newegg.com.

In his new role, Luthi will lead Buy.com’s marketing initiatives, including web site experience, advertising, BuyTV, public relations and promotions. In addition, he will work closely with Buy.com parent company Rakuten on overall corporate branding. 

PLANO, Texas and NEW YORK — JCPenney announced that it has partnered with fashion designer Nanette Lepore to bring her first teen-focused line to its stores. Inspired by her teenage daughter, the line "l'amour nanette lepore" will be available exclusively at JCPenney and will debut as its own distinct shop beginning February 2013.