C-SUITE

Mary Meixelsperger, senior VP and CFO DSW Inc., is shifting professional gears

Meixelsperger has resigned from the company effective June 10, to pursue another unspecified opportunity. Coincidentally or otherwise, DSW recently missed expectations for both profits and sales in a difficult first quarter of fiscal 2016. Net income fell 37% and same-store sales also declined, although revenues grew below Wall Street forecasts.

Russ Dispense, president of the King Soopers division of The Kroger Co., plans to retire on July 1 after 51 years with the company.

Dispense began his career with Kroger in 1965, when he joined King Soopers as a courtesy clerk. He served in various leadership positions in stores and district management through the years, as well as at warehouses, manufacturing plants and administrative offices. Dispense was promoted to VP of retail operations and merchandising for the King Soopers division in 1983. He also served as VP of real estate.

Specialty electronics and furniture chain Conn’s Inc. is shuffling its executive ranks as it swings to a net loss in the first quarter of fiscal 2017.

Lee Wright, formerly CEO for oil field service firm Professional Directional Enterprises Inc., will succeed Tom Moran as CFO, starting on June 22, 2016. Wright also has experience in the private equity industry. Moran, who joined the retailer in July 2015, is expected to remain at the company for a period of 120 days to support a seamless transition.

The 95-year old co-founder of the North Carolina-based supermarket chain that became Food Lion has died at the age of 95.
 
Ralph Ketner and two others in 1957 founded Food Town, which changed its name to Food Lion in 1982.  

Chip Wilson, the founder of Lululemon Athletica Inc., is not one to mince words.

Wilson, the company’s largest shareholder with a 14.2% stake, on Wednesday issued an open letter to investors in which he sharply criticized the apparel retailer’s management, calling its competence “uninspiring at best.” He called for annual election of the board to hold members accountable for Lululemon’s performance.

The long-drawn out battle over the merger of Staples and Office Depot has claimed its first victim.

Staples chairman and CEO Ron Sargent will step down after the chain’s annual shareholders meeting on June 14. His exit comes just weeks after a federal judge struck down Staples’ proposed acquisition of rival Office Depot. http://www.chainstoreage.com/article/staples-and-office-depot-call-merger-wake-ruling
 

A store development executive from Gap Inc. has been tapped to head up real estate for Foot Locker.   Foot Locker announced the appointment of Scott Martin as senior VP – real estate, effective June 13. Martin succeeds Jeffrey Berk, who retired in April after almost 20 years with the company.    

As Sears Holdings Corp. continues to struggle to turn its business around, the chain announced it is exploring ways to expand distribution of its key brands outside its own stores. The troubled retailer also announced its CFO is leaving.

Sears lost $471 million in its first quarter, ended April 30, compared with $303 million in the year-ago period. Loss per share came to $4.41, or $1.86 adjusted for certain items. Analysts estimated a loss of $3.20 per share.