C-SUITE

Another day, another finance chief at a well-known retailer is leaving.

Jane Hamilton Nielsen, CFO at Coach Inc., will be departing the company to pursue another opportunity. In order to facilitate a smooth transition, Nielsen is expected to stay into August 2016. The company is commencing a search for her permanent successor with Crist Kolder Associates. Andrea Shaw Resnick, global head of investor relations and corporate communications, will be appointed interim CFO until a permanent appointment is made.

Jo-Ann Fabric and Craft Stores is promoting Chris DiTullio to senior VP, marketing and omnichannel.

While at Jo-Ann, DiTullio has served as interim senior VP, marketing; VP, e-commerce and omnichannel; VP, marketing and advertising; VP, inventory management; and director, merchandise planning.

Specialty arts and crafts retailer The Michaels Companies Inc. exceeded Wall Street expectations for profit and sales in a generally strong first quarter of fiscal 2016.

Michaels reported net income of $70.76 million, a 6% increase from $66.74 million the same quarter a year earlier. Improvements in gross profit helped boost net income.
 

Mary Meixelsperger, senior VP and CFO DSW Inc., is shifting professional gears

Meixelsperger has resigned from the company effective June 10, to pursue another unspecified opportunity. Coincidentally or otherwise, DSW recently missed expectations for both profits and sales in a difficult first quarter of fiscal 2016. Net income fell 37% and same-store sales also declined, although revenues grew below Wall Street forecasts.

Hudson’s Bay Co. (HBC) shareholders have spoken.
 
In good news for the Canada-based department store operator, all of the nominees listed in its management information circular dated April 28, 2016 were elected as directors of HBC at the annual meeting of shareholders held Monday, June 6 in Toronto.
 
The newly-elected directors are:

· Richard A. Baker
· Robert C. Baker
· David G. Leith
· William L. Mack
· Lee Neibart
· Denise Pickett

Hubert Joly, CEO of Best Buy Inc., is doing a little diversification of his personal stock portfolio.

Bloomberg reports that as of June 2, Joly has sold 398,000 shares of Best Buy stock, or 44% of his roughly 910,000 company shares, for $12.8 million.

The retailer said Joly is not exploring other opportunities and has no plans to leave his current position.

Senior management of Walmart Stores Inc. should be happy with the results of its 46th annual shareholders meeting held June 3.
 

Russ Dispense, president of the King Soopers division of The Kroger Co., plans to retire on July 1 after 51 years with the company.

Dispense began his career with Kroger in 1965, when he joined King Soopers as a courtesy clerk. He served in various leadership positions in stores and district management through the years, as well as at warehouses, manufacturing plants and administrative offices. Dispense was promoted to VP of retail operations and merchandising for the King Soopers division in 1983. He also served as VP of real estate.