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Retail vet Hanaka reunites with Staples Stemberg
Retail industry veteran Marty Hanaka has joined Highland Consumer Partners as one of the firm’s operating partners.
Hanaka has held senior leadership positions with numerous retailers throughout his lengthy career. Most recently, he served as interim CECO of Guitar Center and from 2007 to 2012 he held the positions of chairman and CEO at Golfsmith. From 1998 to 2004 he served as CEO and chairman of The Sports Authority. Prior to that he spent three years as COO of Staples and also held senior leadership roles during a 20 year career at Sears.
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Moody's: Off-price retailers will outperform industry next five years
New York -- The nation’s three largest off-price retailers (TJX, Ross Stores and Burlington) will see above-average growth, in the 6%-8% range, over the next five years, compared with 4% growth for the broader retail industry, according to a new report by Moody's Investors Service. The leaders in the space have thousands of vendor relationships and significant scale, so supply constraints aren't likely to hinder their growth, the report noted.