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Ross Stores names chief merchandising officer Barbara Rentler as new CEO
Dublin, Calif. -- Ross Stores’ board approved a succession plan that elevates Barbara Rentler from president and chief merchant to CEO, effective June 1, replacing Michael Balmuth who will transition to executive chairman.
Current president and COO Michael O’Sullivan will continue in his present position.
Other promotions effective June 1 include: Lisa Panattoni to president, merchandising; and Bernard Brautigan to group executive VP merchandising. -
Canadian fashion retailer Jacob to close all 92 stores
Montreal -- After a failed attempt to restructure under bankruptcy protection, Canadian fashion retailer Boutique Jacob said it will liquidate its inventory and close all 92 stores.
The Montreal-based chain, which operates the Jacob, Jacob Outlet and Jacob Liquidation banners, exited bankruptcy protection in 2011 and has been unable to return to profitability. According to a Reuters report, the company said it was hurt by a challenging economy as well as competition from international brands that have debuted in Canada in recent years.