News

NEW YORK — Royal Ahold executive Kimberly Ross is joining beauty company Avon as EVP and CFO, reporting to Andrea Jung, Avon's chairman and CEO.

Ross currently is EVP and CFO and a member of the executive board of Royal Ahold N.V., a Netherlands-based international group, with more than 2,970 stores and supermarkets spanning Europe and the United States.

MENOMONEE FALLS, Wis. — Kohl’s Department Stores announced a long-term license agreement with Bobby Flay to renew the chef's exclusive line of home and grill products, which will be available in Kohl’s stores nationwide and Kohls.com beginning February 2012.

Anaheim, Calif. — Pacific Sunwear of California announced that net sales for the first quarter of fiscal 2011 were $186 million, a decrease of 2% from net sales of $190 million for the first quarter of fiscal 2010. Total company same-store sales increased 1% during the first quarter of fiscal 2011.

The company reported a net loss of $31 million, or 48 cents per share, for the first quarter of fiscal 2011 compared to a net loss of $31 million, or 47 cents per share, for the first quarter of fiscal 2010.

WASHINGTON — Target announced that it will provide new libraries for 42 schools in the United States as part of the 2011 Target School Library Makeover program.

Optimism about economic expansion is on the rise among senior finance executives in the United States and around the rest of the globe, according to the annual American Express/CFO Research Global Business & Spending Monitor.  In fact, the level of optimism was the highest in the four years that the survey has been conducted, with three in four (75%) executives expecting modest to strong economic expansion over the next twelve months -- up from 71% in 2010. The U.S. figure was even higher at 79%, although most predict modest growth.

WASHINGTON — Pamela Bailey, president and CEO of the Grocery Manufacturers Association (GMA), has announced the appointment of Sean Darragh as EVP global strategies, a newly created position within the association.

The EVP global strategies, is responsible for expanding GMA’s international program by defining and effectively executing a global policy and advocacy strategy that is fully integrated into the GMA strategic plan, the association reported. 

Boca Raton, Fla. — After serving seven months in an interim capacity, Office Deport made a surprise decision and named long-time board member Neil Austrian as its new chairman and CEO. The announcement ends a lengthy search that began last fall when former chairman and CEO Steve Odland left the company on Nov. 1, amid deteriorating business results and Austrian was tapped to serve in an interim capacity. He had previously served in an interim role prior the company’s appointment of Odland.

Minneapolis — Target announced its donation of funds and product to support tornado relief efforts in Minnesota.

The funds, which totaled $50,000, will help the efforts of the American Red Cross and Salvation Army.

“We take seriously our responsibility as a retailer, employer and community member to aid in times of need,” Target chairman, president and CEO Gregg Steinhafel said. “Before and after a crisis, communities can count on Target.”