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Canadian Tire promotes Medline to president/CEO
Toronto – Canadian Tire Corp. has named Michael Medline, who has served as company president since November 2013, as president and CEO effective Dec. 1. Current CEO Stephen Wetmore has agreed to remain on the board of directors in a new, non-executive position of deputy chairman.
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Ann updates second quarter outlook following soft sales at Loft
Despite positive performance through mid-June, the remainder of the second quarter proved more challenging for Ann Inc., prompting the company to reduce its outlook for the second quarter so it reflects lower-than-anticipated comparable sales and gross margin rate performance.
President and CEO Kay Krill cited soft traffic across the industry and a highly promotional environment, but added that — despite delivering a positive comp for the quarter at Ann Taylor — a disappointing performance at Loft offset results.