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DSW awarded $7.2 million for credit card breach
Columbus, Ohio -- DSW Inc. said Thursday that it has been awarded $7.2 million as a result of litigation with its insurance carrier stemming from its credit card data breach in 2005.
The $7.2 million award represents damages plus accrued interest.
In other news, DSW has declared a special dividend totaling $91 million to be paid on Oct. 26 to shareholders. According to president and CEO Mike MacDonald, the special distribution, which is in addition to the regular dividend, represents “significant cash flow generation.”
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City Sports names CEO
Boston -- City Sports said Wednesday it has named Edward Albertian as president and CEO of the 21-store chain.
Albertian joins the company from Trans National Group, where he was president and CEO. He has also served as senior VP retail operations at Staples.
Albertian's appointment follows the departure of City Sports’ previous president and CEO Jeff Connor, who resigned last month.