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Retail

  • Kohl's names Starbucks' exec chief customer officer

    Menomonee Falls, Wis. -- Kohl’s has appointed Starbucks executive Michelle Gass to the newly created position of chief customer officer. She will report directly to Kohl’s chairman, president and CEO Kevin Mansell.

    Gass, who joins Kohl’s on June 17, will have leadership responsibility for Kohl’s branding across all channels. She will oversee all marketing efforts, the company’s high growth e-commerce business on Kohls.com and the customer’s total omnichannel experience.

  • Target Q1 profit plunges 29%; lowers full-year outlook

    Minneapolis -- Target Corp. reported a 26% drop in its first-quarter profit as unseasonably cool weather, the payroll tax increase and other economic pressures took a toll on sales.

    Target earned $498 million the three months ended May 4, down from $697 million in the year-ago period. Sales rose 1% to $16.71 billion.

    Same-store sales fell 0.6%. The number of transactions fell 1.9%.

  • Judge weighs injunction against Abercrombie & Fitch over store accessibility

    Denver -- A federal judge in Denver is considering an injunction after ruling that nearly 250 Abercrombie & Fitch stores, including its namesake and Hollister banners, are unfriendly to the disabled, the Associated Press reported.

    The judge agreed in March with the Colorado Cross-Disability Coalition that the stores limited access for wheelchair-bound customers.  He said the only option under the Americans With Disabilities Act is an injunction ordering the problems to be fixed, the report said.

  • Jeff Green blog: Reflections on RECon 2013

    “One of the strange ironies of the 2013 convention is that — despite more bookings, a sold-out convention and more activity than we’ve seen in years — the convention doesn’t feel as busy as it has in years past. I suspect this is largely because three of the biggest names in the industry, Macerich, Simon, and Westfield, don’t have booths at the convention center this year. Make no mistake, they are still here in Vegas — they have just moved over to Caesar’s Palace.

  • American Eagle Q1 profit down but tops Street; to build new DC

    Pittsburgh -- American Eagle Outfitters Inc. earned $28 million in its first quarter, down from $39.7 million in the same quarter last year, as cooler weather hurt demand for its spring fashions and some special charges cut into its results. But the retailer still beat market expectations.

    In related news, American Eagle Outfitters will invest more than $160 million to construct a new direct-to-consumer distribution center in Hazle Township, Pa.

  • Zale swings to profit in Q3; names former CEO of Signet as chairman

    Dallas — Zale Corporation, a specialty retailer of diamond and other jewelry products, has elected former Signet CEO Terry Burman as a director and as chairman of the board. John B. Lowe Jr., who has served as chairman for the past five years, will remain on the board.

  • Sears Canada posts loss; names CFO

    New York -- Sears Canada reported a net loss in its first quarter of C$31.2 million ($30.3 million) compared with a net profit of C$93.1 million, a year earlier amid weakened demand for major appliances and home products.

    Revenue fell more than 6% to C$867.1 million. Same-store sales fell 2.6%.

    The company also named E.J. Bird as CFO. Bird was appointed interim CFO in March, two months after Sharon Driscoll resigned from the post.

     

  • Staples disappoints as Q1 profit falls 9.2%

    Framingham, Mass. -- Staples reported that its first-quarter profit was $169.9 million, down from $187.1 million in the year-ago period, hurt by a stronger dollar and weak same-store  sales in North America and Europe. Its results missed Wall Street forecasts.

    Total sales fell 3.5% to $5.81 billion, also falling short of estimates. In North America, same-store sales were down 2% on weak demand for computers, software and technology accessories.

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