Retail

Consumer Confidence Jumps in June

Conference Board

NEW YORK-The consumer confidence index rose three points to reach 85.2, its highest level in more than six years, according to The Conference Board, which provides the monthly indicator. Lynn Franco, the board’s director of economic indicators, said an improvement in current conditions provided one of the key drivers in this month’s gain. The presentMore »

Van den Berghe Tabbed to Head Walmart Canada

Dirk Van den Berghe

MISSISSAUGA, Ontario-Walmart has appointed Dirk Van den Berghe as president and CEO of Walmart Canada. Van den Berghe will assume his new post on Aug. 1. He will report to Shelley Broader, who was recently named president and CEO of Walmart’s EMEA region, which encompasses the retailer’s operations in Europe, the Middle East, Africa andMore »

Starbucks Exec Joins Macy’s Board

Annie Young-Scrivner

CINCINNATI-Annie Young-Scrivner, executive vice president of Starbucks Coffee Co. and president of its Teavana business, has been elected to the Macy’s board of directors. Young-Scrivner’s election brings the size of Macy’s board to 11 members. She has served in several key Starbucks roles since 2009, including president of Starbucks Canada, president of Tazo Tea andMore »

Icahn Pushes for Family Dollar Sale

Carl Icahn

NEW YORK-Activist investor Carl Icahn has called for an immediate sale of Family Dollar in a letter to Howard Levine, chairman, president and CEO of the dollar-store retailer, which was included in a filing with the United States Securities and Exchange Commission. Earlier this month, Icahn purchased about 9.4 percent of Family Dollar’s stock throughMore »

Garden Ridge to Rebrand as At Home

at-home-logo

PLANO, Texas-Home specialty retailer Garden Ridge is investing $20 million to rebrand all of its stores as At Home. A company statement said the new brand identity “better reflects the company’s mission to provide customers with more than 50,000 unique home decor products for every room, every style, at everyday low prices.” Along with theMore »

Thomas Upped to Head Family Dollar Merchandise Operations

Jeffrey Thomas

MATTHEWS, N.C.-Family Dollar has promoted Jeffrey Thomas to senior vice president of merchandise operations. The move puts Thomas, who was previously vice president of merchant services, in charge of merchandise planning, space planning, merchant services and pricing/analytics. He reports to Jason Reiser, executive vice president and chief merchandising officer, and has succeeded Scott Zucker, whoMore »

Pier 1 Q1 Net Falls 26 Percent

Report: Pier 1 Imports to Sell Online

FORT WORTH, Texas-Pressured by reduced margins resulting from promotions, Pier 1 Imports’ first-quarter net income plummeted by 26 percent to $15.1 million. Gross margin in the quarter, which ended on May 31, dropped 240 basis points to 40 percent, the result of the “highly promotional” retail environment, according to Alex Smith, Pier 1’s president andMore »

Judge: JCP Interfered with Macy’s-MSLO Agreement

JCPenney

NEW YORK-The New York State Supreme Court Justice hearing the lawsuit by Macy’s against J.C. Penney and Martha Stewart Living Omnimedia (MSLO) has ruled that J.C. Penney “tortiously interfered” with the agreement between Macy’s and MSLO. In the 63-page ruling, Justice Oing said Macy’s had proven that it had a valid contract with MSLO forMore »