Department Store

Bentonville, Ark. – Wal-Mart Stores said Mike Duke will retire as president and CEO, effective Feb. 1, 2014, and will be replaced by veteran company executive Doug McMillon. McMillon, 47, president and CEO of Walmart International, was also named to Wal-Mart’s board, effective immediately.

Austin, Texas -- Nearly nine-in-10 (86%) working consumers plan to spend at least some time shopping or browsing online for gifts during work hours this Cyber Monday. A new RetailMeNot retail trends report also shows that 25% of working Americans plan to actually spend four hours or more shopping online for gifts during work hours that day.

Green Bay, Wis. -- Shopko on Monday named Peter McMahon, most recently COO of Loblaws, as its new CEO. Loblaws is Canada’s largest food retailer with over $30 billion in sales.

At Loblaws, McMahon was responsible for supply chain, IT, HR, labor relations, merchandising, store operations and loss prevention functions. Prior to Loblaws, McMahon held various senior level positions with some of the world’s largest retailers, including Wal-Mart in Germany and Japan and Tesco in central Europe.
 

Shopko has named retail industry veteran Peter McMahon as its new CEO.

McMahon has more than 30 years of experience in international retail. Most recently McMahon served as the COO at Loblaws. As COO, McMahon was responsible for Loblaws’ supply chain, IT, HR, labor relations, merchandising, store operations and loss prevention functions. Prior to his time at Loblaws, McMahon held senior-level positions at Walmart in Germany and Japan and Tesco in central Europe.

Framingham, Mass. -- TJX Cos. is launching its first-ever holiday gift hotline for its TJ Maxx and Marshall stores.

The hotline will be available to shoppers from Tuesday, Dec. 3 through Friday, Dec. 6, and will be staffed by nationally renowned style and gifting experts.

The hotline will be staffed from 9 a.m. to 5 p.m.

Foster City, Calif. – Although many retailers will be open for business Thanksgiving, they may wind up angering more consumers than they please. According to a new survey conducted by Prosper Insights for Visa, 62% of more than 4,600 adult U.S. consumers said they would not shop on and are opposed to shopping on Thanksgiving.

Plano, Texas – J.C. Penney will no longer be included on the Standard & Poor’s 500 Index.  

Dow Jones Indices, which manages the S&P 500 as well as many other financial indices, said on Nov. 22 that Allegion, an Ireland-based provider of mechanical and electronic security products, will replace Penney on the S&P 500. Penney will join the S&P MidCap 400. The change will become effective after the stock market closes on Nov. 29.

Chicago -- Upward growth in large-scale, new construction projects as well as an uptick in fine dining and hospitality construction, is predicted for 2014, according to Englewood Construction’s Commercial Construction Forecast 2014.