Personnel Updates
• Express Inc. (112) announced that David Kornberg, CEO and President, is no longer with the company. Matthew Moellering has been appointed as Interim CEO and President until a permanent replacement is named.
• Francesca’s Holdings Corp. (59) announced that Steve Lawrence has resigned as CEO.
• Gap (219) announced it has named Alegra O’Hare as Senior VP and Chief Marketing Officer.
• Genesco Inc. (82) announced Jon Caplan will retire as CEO of Johnston & Murphy, effective at the end of June 2019. The division will be led by Danny Ewoldsen.
• Guess? Inc. (99) announced that Victor Herrero, CEO and a Director, is leaving the company. Carlos Alberini has been appointed as the new CEO.
• JCPenney Company, Inc. (99) has named Mike Robbins as its Chief Officer of Stores and Supply Chain. The retailer also hired Truett Horne as its new Chief Transformation Officer.
• Macy’s, Inc. (156) announced that Patti Ongman has been named Chief Merchandising Officer of the Macy’s brand, effective March 1.
• The Neiman Marcus Group (100) announced that Neva Hall, Exec VP of Stores is retiring from the company. The retailer also announced Jim Gold, President and Chief Merchandising Officer is leaving the company in March.
• Recreational Equipment Inc. (86) announced its President and CEO Jerry Stritzke has resigned from the company as of March 15. The retailers COO Eric Artz will become Interim CEO.
Financial Focus
• Charlotte Russe Holdings Inc. announced it has filed for Chapter 11 bankruptcy protection. The teen fashion retailer said it plans to close about 95 stores while continuing to pursue a sale of the business and assets.
• Levi Strauss & Co. has filed the required paperwork for an initial public offering.
• Payless ShoeSource Inc. is set to enter bankruptcy court for the second time, following its initial filing in April 2017.
Industry Insight
• JCPenney Company, Inc. announced it is exiting the home appliance business at the end of this month. Furniture, which is now in 105 stores, will soon only be available online and in some stores in Puerto Rico.
• Sears announced a plan to close some stores, and to devote more of its retail space to tools and appliances. The company plans to open more smaller 62,000 sq. ft. stores, which at is about one-third its original size.
Real Estate
• Chanel USA recently opened a new 10,000 sq. ft. store in Chicago, IL.
• Joe’s Jeans Inc. has announced plans to reopen its New York flagship on Mercer Street. It will be 1,500 sq. ft., half the size of the original location.
• Caleres announced it will soon open Naturalizer flagships in Chicago, IL, and one on 34th Street in Manhattan, near Herald Square.
• Nordstrom Inc. announced it is closing two locations, in Norfolk, VA, and Wellington, FL in April of this year.
Just because we don’t mention it here doesn’t mean it didn’t happen – or we didn’t capture it. In the past four weeks, we’ve updated more than 543 companies in the Apparel Specialty Stores and Department Stores & Shoe Retailers PLUS Databases, with many of those companies’ records updated at multiple points.
