1-800-FLOWERS.COM, Cheryl & Co. Deal Final
Westbury, N.Y., Gift retailer and florist 1-800-FLOWERS.COM, Inc. has acquired Cheryl & Co., a Westerville, Ohio-based baked-gift manufacturer and seller. The deal was made official after a final vote by Cheryl & Co. shareholders on Monday. 1-800-FLOWERS.COM expects the acquisition to increase annual revenues of its food, wine and gift-basket category to more than $100 million.
Management Shakeup Begins at Sears
Hoffman Estates, Ill., Four Sears, Roebuck and Co. executives were terminated, according to a report in the Chicago Sun-Times. The shakeup comes a week after Kmart’s $12.3 billion takeover of Sears was approved.
The terminated employees include:
• Bill Bass, senior VP of e-commerce at Lands’ End and the head of Sears’ online and catalog operations. He will be replaced by Kmart’s Chris Shimojima, who becomes general manager of online and catalog sales.
• Gary Kelly, Sears CIO. Kmart’s Karen Austin will replace him as CIO.
• Bob O’Leary, head of public relations and government affairs. He will be replaced by Sears’ Edgar “Ted” McDougal.
• Greg Lee, head of human resources. He will be replaced by Sears’ Bob Luse.
In addition to these executive changes, Sears executive VP of store operations William White III will retire. Also, Catherine David, who leads Sears’ Great Indoors concept, will take additional responsibility for the Sears Essentials and Sears Grand formats, and Rob Lynch will become general manager of the Orchard Supply hardware chain.