News

NEW YORK — Michael Cunningham, Aeropostale president, is retiring effective March 29, the company announced Tuesday. 

New York -- J.C. Penney Co. filed a lawsuit on Monday asking a Delaware judge to declare that it is not in a default of its bond agreements, protecting nearly $3 billion of debt from being due in the coming months, Reuters reported.

According to the report, J.C. Penney received a letter earlier on Monday from the Brown Rudnick law firm that said J.C. Penney had breached a covenant of a bond indenture agreement by granting a lien on its inventory. J.C. Penney filed the lawsuit after receiving the letter.     

WASHINGTON — The National Retail Federation has been outspoken in its criticism of credit card fees and now a group called the Electronic Payments Coalition that represents credit unions,banks and payment card networks is firing back, claiming that the retail lobby is making false statements regarding checkout fees.

Roseville, Calif. -- Family Dollar Stores is renewing its software contract with Revionics, which provides end-to-end merchandise optimization solutions, the supplier announced. The multi-year agreement will extend the retailer’s services with Revionics’ price optimization solutions, with Family Dollar leveraging Revionics’ solutions in each of its more than 7,600 stores in 45 states.

CHICAGO — Consumers are better able to make informed decisions when it comes to grocery shopping, meaning new strategies are needed in order to reach them, according to a new report from SymphonyIRI Group.

St. Louis -- Panera Bread Company announced that Roger C. Matthews, Jr., has been appointed Panera's EVP and CFO, effective March 18.

Matthews most recently served as managing director and sector head of the U.S. Restaurant Industry in Goldman Sachs' Investment Banking Division.

Pat Kelly, who has served as Panera's Interim CFO since April 2012, will remain in place until the end of March to ensure a smooth transition.

ATLANTA — Predictix, a provider of merchandising and supply chain solutions for retailers, has named Bradley White as its new CFO. White is a proven financial executive and joins Predictix with more than 15 years’ experience in treasury, finance, accounting, public company reporting, employee management, strategic planning and tax compliance in diverse global businesses and industries.  This comes after the recent appointment of John Simon as Predictix’ new CEO.

EMERYVILLE, Calif. — LeapFrog Enterprises has partnered with Disney Publishing Worldwide to develop e-books for its children's tablets and game systems.

"Doc McStuffins: Rundown Racecar" and "Wreck It Ralph: Sugar Rush" were developed and produced by Disney Publishing Worldwide for LeapFrog and are available for purchase in the "Just for Fun" section of the LeapFrog App Center for the kid's learning tablets, LeapPad1 and LeapPad2, and learning video game systems, Leapster Explorer and LeapsterGS.