News

LOS ANGELES — Mike Pollard, retired VP of Costco Wholesale, has joined the board of directors of Abbyson Living, which manufactures and imports living room, dining and bedroom furniture.

Pollard retired from Costco Wholesale in 2013 after a 27-year career. Abbyson Living will look to Pollard for his guidance regarding comprehensive business practices that will directly impact the company’s growth and further mature the value of the brand. 

New York -- A Tuesday report by Reuters said that J.C. Penney Co.’s real estate holdings – including stores, DCs and headquarters – are worth a total of $4.06 billion.

An appraisal was conducted for Penney and subsequently disclosed in a presentation to potential lenders that was also filed with U.S. regulators.
 

New York -- Cache reported Tuesday a loss of $18.5 million for the first quarter, widened from a loss of $1.2 million in the same quarter last year. An income tax provision of $10.2 million and employee separation costs were cited as reasons for the worsened performance.

Revenue declined 5% percent to $53.5 million from $56 million, and same-store sales dipped 1.5%.

NEW YORK — Olivier Goudet, partner and CEO of the Joh. A. Benckiser Group and former CFO of Mars Inc., has been appointed global beauty brand Coty’s board of directors. Goudet replaces Bernd Beetz, who stepped down from Coty's board to pursue other interests.  

JAB is a privately held group that owns and invests in premium brands; it is also Coty's majority shareholder.

CINCINNATI — Kroger has named Scott M. Henderson VP of pension investment and strategy and Todd A. Foley VP and treasurer.

Henderson currently serves as Kroger's VP and treasurer, a position he has held since 2003. He will lead a new team that is responsible for overseeing nearly $12 billion of assets.

GOODLETTSVILLE, Tenn. — Dollar General is gearing up for a nationwide career fair to be held at 170 locations in 40 states Saturday, May 18. The event is part of the retailer's efforts to hire 10,000 new employees in May.

By Liz Moughan, Kronos Incorporated

Sometimes uncertainty causes us to put off things we should do now.

This is true when it comes to retailers and their preparation for complying with the Affordable Care Act (ACA). In fact, 56% of organizations reported that they hesitated to initiate any changes in 2012, preferring instead to wait until the Supreme Court decision and the 2012 elections before they took any major actions.

Aston, Pa. -- Actions Services Group has announced a service agreement with Strategic Restaurants Acquisition Co. to provide exterior sign and lighting maintenance services for its 295 Burger King restaurant units.

The two-year maintenance program covers proactive, scheduled quarterly visits to Strategic Restaurants’ units to inspect, repair and/or replace lamps, ballasts, sockets, electrodes, tube supports, wiring within the sign or light fixture LED or non-LED redband, LED or non-LED channel letters, neon transformers and secondary wiring.