Human Resources

New York City -- New York & Co. said Tuesday it has promoted current president Gregory Scott to the role of CEO, effective Feb. 12.

Richard P. Crystal, current chairman and CEO, had previously announced his impending retirement, effective Feb. 11.

Grace Nichols, who has served as a director since March 2008, will assume the role of non-executive chair of the board effective Feb. 12. Scott will remain a director on the company’s board.

FRAMINGHAM, Mass. -- The TJX Companies announced that its board of directors approved a new management structure as part of the company’s ongoing leadership succession planning. Carol Meyrowitz continues as CEO as well as a director of The TJX Companies and has entered into another two-year employment agreement. Ernie Herrman has been promoted to president of The TJX Companies from his post of senior EVP, group president.

Meyrowitz will now have Herrman and Jeffrey Naylor, senior EVP, chief financial and administrative officer, reporting to her.

Washington, D.C. -- A report released Tuesday by the National Restaurant Association said that restaurant industry sales are expected to reach a record $604 billion and post positive growth in 2011 after a three-year period of negative real sales growth.

The Association’s 2011  Restaurant Industry Forecast projects an industry sales increase of 3.6% over 2010 sales, which equals 1.1% in real (inflation-adjusted) terms.

San Francisco -- Gap announced Tuesday that Marka Hansen president of Gap North America, has resigned, effective Feb. 4.

According to Glenn Murphy, Gap chairman and CEO, the decision to change leadership was mutual.

“After several conversations, Marka and I agreed this was the right time for a change in the organization in order to take Gap brand to a new level,” he said.

The apparel retailer said it has identified an internal successor to Hansen, who will be announced in the next day.

New York City -- A report released Monday by Bloomberg said that J. Crew Group’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP has fallen apart.

Citing a lawyer for the shareholders, the report said that J. Crew officials undermined a deal in which the clothier agreed to extend the period to solicit competing offers to the $3 billion buyout bid. The accord also included a $10 million payment to plaintiffs.

Feeling confident that the worst is behind them, most retailers are ready to expand again as they turn their attention from steadying the ship to actively growing their business. That’s the big takeaway from Retail Horizons: Benchmarks for 2010, Forecasts for 2011 report. The annual study, sponsored by KPMG and the National Retail Federation Foundation, is widely acknowledged as the definitive state of the industry report.

New York City - A report released Monday by The Conference Board said that labor demand rose sharply in January after being relatively flat during the last half of 2010. 

According to The Conference Board Help Wanted OnLine Data Series, online advertised vacancies rose 438,000 in January to 4,273,000.  With the January increase, labor demand has risen 1.44 million since the series low point in April 2009. This increase now offsets approximately 80% of the 1.76 million drop in ad volume during the two-year downturn period from April 2007 through April 2009. 

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.