DATATRAC
Personnel Updates
• American Apparel, LLC announced Martin Bailey, Chief Manufacturing Officer for the company, has resigned.
• American Eagle Outfitters announced that Mary Boland, Chief Financial and Administrative Officer, plans to retire effective April 1, 2016. In the interim, Scott Hurd will lead the day-to-day management of the finance team and assume the role of interim CFO.
• Bebe Stores Inc. announced that founder Manny Mashouf has rejoined its management team as CEO, replacing Jim Wiggett. In another change, Bebe said Walter Parks will return as President and COO and also act as interim CFO. Parks replaces CFO Liyuan Woo. The company said it will eliminate 45 jobs, representing a 15% reduction in corporate headcount.
• Cabela’s Inc. announced that Michael Copeland, Executive VP and COO, has decided to transition from his current position to a strategic advisory role.
•Foot Locker Inc. announced the promotion of Jake Jacobs to the position of Executive VP and CEO of North America and Lewis P. Kimble to the position of Executive VP and CEO of International.
• Hibbett Sports Inc. announced Bill Quinn has joined the company as VP of Digital Commerce.
• JCPenney Company, Inc. announced Ken Mangone, Executive VP Product Development, Design, and Sourcing, is retiring on April 1, 2016. Val Harris will be promoted to Senior VP Product Development and Design.
• Kohl’s Corp. has eliminated the roles of Executive VP, Chief Digital Officer, which was held by Krista Berry; Senior VP, Store Environment & Development, held by Paul Calderon; and Senior VP, Communications and Public Relations, held by Bevin Bailis.
• L Brands, Inc. announced Victoria’s Secret CEO Sharen Jester Turney has left the company. Chairman Les Wexner will be responsible for her duties.
• ModCloth, Inc. has hired Elizabeth Cooksey as its new VP of Stores and Retail Operations, Mary Alderete as Chief Marketing Officer, and Mike Janover as VP of Marketing.
Financial Focus:
• The Sports Authority filed for Chapter 11 bankruptcy protection.
Mergers and Acquisitions
• DSW Inc. announced that it has entered into a definitive agreement to acquire Ebuys, Inc., a leading e-commerce off-price footwear and accessories retailer.
• Samsonite International and Tumi Holdings, Inc. announced that they have entered into a definitive agreement whereby Samsonite will acquire Tumi.
Industry Insight
• Kohl’s Corporation announced plans to pilot a new smaller format Kohl’s store, opening seven of these stores in various regions around the country, add two additional Off-Aisle pilot stores in Wisconsin, and open 12 Fila outlet stores this year.
• Victoria’s Secret announced it is opening its first store in China soon.
Real Estate
• Dick’s Sporting Goods Inc. plans to open approximately 36 Dick’s Sporting Goods stores and relocate nine others. It also expects to open approximately nine Field & Stream stores and two Golf Galaxy stores in 2016, most of which will be adjacent to new or relocated Dick’s Sporting Goods stores.
• DSW Inc. will open 14 new stores in the following cities nationwide over the next few months: Salinas, CA; Visalia, CA; Fairfield, CT; Fort Lauderdale, FL; Westminster, MD; Chesterfield, MI; Holly Springs, NC; Kingston, NY; Strongsville, OH; Memphis, TN; Dulles, VA; Richmond, VA; Suffolk, VA and Virginia Beach, VA.
• Kohl’s Corporation said it plans to close 18 underperforming stores by the end of March.
• L.L. Bean will open its first Michigan store this summer. The 14,000 sq. ft. store will be located at The Mall at Partridge Creek in Clinton Township, MI.
• Macy’s Inc. plans to open 42 additional Bluemercury locations, 16 Macy’s Backstage locations this year. The company also plans a new Macy’s store in Kapolei, HI, this year.
• Nordstrom Inc. announced plans to open a Nordstrom Rack at One Bloor in Toronto, ON. The 38,600 sq. ft. store is scheduled to open in 2018. The company also plans to open a 33,000 sq. ft.Nordstrom Rack at Poplar Commons in Memphis, TN, in the fall of 2017.
• Ross Stores Inc. announced plans for 70 new locations in 2016.
• Sports Authority Inc. announced it is preparing to close as many as 140 of its stores nationwide, including all of its stores in Texas.
• Stage Stores Inc. plans no new store openings in 2016 and will close 30 units.
• Stein Mart announced the locations of five new stores, which will open on March 10, in Aurora, CO; King of Prussia, PA; Madison, WI; Naples, FL and Wilmington, DE.
• Tailored Brands, Inc. plans to significantly reduce its physical presence this year by closing 250 stores, including more than 20% of the Jos. A. Bank stores acquired in 2014.
• Vineyard Vines will open a 6,000-sq.-ft.flagship store in New York’s Grand Central Terminal this spring. The brand plans additional stores in the Stanford Town Center in Stanford, CA, in mid-March; Troy, MI, in the Somerset Collection in early May; Hyde Park in Tampa, FL, in August; and the Village of Corte Madera in California in mid-June.
• Von Maur Inc. will open a 140,000 sq. ft. store at the Rosedale Center in St. Paul, MN in fall 2018.
Technology News:
• Boot Barn Inc. is deploying video and situation intelligence solutions from Verint at various retail store locations to enhance operations and loss prevention efforts.
