Events

WASHINGTON -- The National Retail Federation announced that it has promoted Carleen Kohut, who has served as NRF SVP and CFO for the past ten years, to COO, as part of board-approved restructuring plan. Additionally, Susan Newman, VP conferences, has been promoted to SVP conferences and Mike Gatti, formerly SVP communications, has been named SVP member relations.

Washington, D.C. -- A report released Thursday by the Institute for Supply Management said that the U.S. service sector, which includes retailers, grew in January at the fastest pace in five years. The report, along with other data, suggests a growing economy and stronger hiring.

The private trade group said its index of service sector activity rose to 59.4 last month. That was up sharply from December's reading of 57.1. It was the fourteenth straight month of growth and the highest reading since August 2005.

Walmart SVP brand marketing Tony Rogers was recently added to the program at the Symphony IRI Group’s annual summit to be held this year in Miami on March 28 to 30. Rogers will join Univision Communications EVP corporate research, Elizabeth Ellers, for a presentation titled, “Making Hispanics Your Competitive Advantage at Retail.”

Washington, D.C. -- The National Retail Federation said Thursday that it has made changes to its organizational structure, promoting Carleen Kohut from senior VP and CFO to the position of COO.

Also Susan Newman, VP, conferences, has been promoted to senior VP conferences, and Mike Gatti, formerly senior VP communications, has been named senior VP member relations.

WESTBOROUGH, Mass. — After months of speculation, BJ's Wholesale Club early Thursday morning confirmed the company has decided to explore and evaluate strategic alternatives. Coupled with that announcement was a positive sales story for the year.

New York City -- Costco Wholesale Corp. reported a January same-store sales increase of 9%, topping Wall Street expectations and leading the performances of the discount retail category.

Analysts polled by Thomson Reuters expected a smaller same-store sales increase of 6.1%.

Target Corp. didn’t show the same strength, missing expectations because of strong winter storms during the month. Same-store sales edged up 1.7% for the month, missing the 1.9% increase predicted by Wall Street.

Miami -- Walmart Latin America CEO Eduardo Solorzano said Thursday in a speech that Walmart is using the company's expertise in sustainability as a means for profitable growth. 

New York City -- Teen retailers Abercrombie & Fitch Co., Aeropostale and American Eagle Outfitters will stop reporting monthly sales after Thursday.

Many retail executives say reporting sales from stores open at least a year puts too much focus on short-term results.