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Bon-Ton Stores CEO to step down in 2015
York, Pa. -- Bon -Ton Stores said its CEO, Brendan Hoffman, will step down early next year. The announcement follows a disappointing fourth quarter for the company.
Hoffman, a former CEO of Lord & Taylor, will leave Bon-Ton on Feb. 7, 2015, when his contract expires. He also will step down as director. Hoffman cited "strictly personal reasons" for his decision to leave.
He was appointed CEO of Bon-Ton in February 2012.
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Swatch sues Target
New York -- Swatch Group SA is suing Target Corp. for illegally selling watches that copy Swatch watches.
Swatch, in a lawsuit made public on Monday, accused the retailer of infringing its designs for "multi-colored" and "zebra watches." The watchmaker said the quality of the Target watches is inferior compared to its own and that their sale is likely to confuse consumers and hurt Swatch's sales.