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Former Sears Canada CEO named chief executive of Sephora Americas
New York -- Sephora announced Thursday that Calvin McDonald has been named president and CEO of Sephora Americas, effective Jan. 1, 2014.
McDonald, who previously served as president and CEO of Sears Canada, succeeds David Suliteanu.
Suliteanu, who has helmed Sephora Americas since July 2000, will become CEO of Kendo Brands, which is owned by Sephora's parent, LVMH Moet Hennessy Louis Vuitton SA. -
Millenials to outspend Baby Boomers by 2017
New York -- The Millennial generation is expected to outspend Baby Boomers by 2017, yet retailers underestimate the size and purchasing power of this consumer, according to a new study by Berglass + Associates and Women’s Wear Daily.
The study, “What Happens When Millennials Get the Wallet,” found that retailers do not fully understand the needs of Millennials and are employing business strategies and tactics that do not apply to this customer.