Retail

Target Tabs PepsiCo’s Cornell as New Chief

Brian Cornell

MINNEAPOLIS-Target has named Brian Cornell, former CEO of PepsiCo Americas Foods, as its new chairman and CEO, succeeding Gregg Steinhafel, who left the mass merchant in May. Cornell will assume his new post on Aug. 12. According to a Target statement, his first priorities will be “accelerating the company’s performance and advancing Target’s omnichannel evolution.”More »

Last updated: July 31, 2014

Decker Named Merchandising Head of Home Depot

Ted Decker

ATLANTA-The Home Depot has promoted Ted Decker to executive vice president of merchandising, responsible for all aspects of the home improvement retailer’s merchandising strategy and operations. Decker will assume his new role on Aug. 4. He will report to Craig Menear, president of Home Depot’s U.S. retail operation. Menear was the previous executive vice presidentMore »

Last updated: July 31, 2014

hhgregg Q1 Loss Grows as Sales Fall

hhgregg

INDIANAPOLIS-The first-quarter net loss for hhgregg increased from $1.3 million last year to $10.3 million this year, as the specialty retailer’ sales fell by double digits. Net sales in the quarter, which ended on June 30, dropped 10 percent to $472.3 million, primarily due to the decrease of 10.2 percent in same-store sales. Computers andMore »

Last updated: July 31, 2014

Havertys Q2 Sales Edge Up 2.3 Percent

Havertys

ATLANTA-Havertys posted a gain of 2.3 percent in second-quarter net sales, which totaled $175.1 million and which included a pickup of 3.2 percent in same-store sales. The sales gain in the quarter, which ended on June 30, included an increase in total written sales of 4.7 percent, which included a 5.3 percent rise in writtenMore »

Last updated: July 31, 2014

Bon-Ton Chooses Motulsky for Board

Daniel Motulsky

YORK, Pa.-Daniel Motulsky, a former executive with consulting firm Lazard, has been elected to The Bon-Ton Stores’ board of directors. Motulsky was managing director and global head of Consumer & Retail at Lazard from 2000 until June of this year, having joined the firm in 1998. Prior to that, he was a partner of TannerMore »

Last updated: July 31, 2014

Consumer Confidence Increases in July

Conference Board

NEW YORK-Following a three-point gain in June, the consumer confidence index moved up a further 4.5 points this month, to 90.9, according to The Conference Board, which provides the monthly indicator. The index is now at its highest level since October 2007, and July marked the third straight month with a gain for the index.More »

Last updated: July 30, 2014

Anna’s Linens Gains $80 Million in Financing from Capital Firms

Anna’s Linens

BOSTON-Salus Capital Partners and Downtown Capital Partners, two providers of asset-based financing, have agreed to provide $80 million in financing to Anna’s Linens. The financing will come by way of a senior-secured credit facility, which is expected to be used by Anna’s Linens to refinance the debt it holds with its current lender and forMore »

Last updated: July 30, 2014

Mangano Pillow Sales Set HSN Record

Joy Mangano

ST. PETERSBURG, Fla.-More than 216,000 sets of Joy Mangano’s Comfort & Joy MemoryCloud pillows were sold on HSN on July 26, breaking the shopping network’s previous record for most units of a single item on a single day, according to an HSN statement. For the whole July 26-27 weekend, nearly half a million of theMore »

Last updated: July 30, 2014