Barnes & Noble CEO resigns amid management shuffle
New York — Barnes & Noble CEO William Lynch has resigned, effective immediately. The company said it has appointed Michael P. Huseby as CEO of Nook Media and president of Barnes & Noble. He had served as the company’s CFO since 2012.
Lynch, a technology veteran, took the reins of Barnes & Noble in 2010, and was a driving force in the chain’s transition into digital and the expansion of its Nook line of tablets. No reason was given for his departure.
“I appreciate the opportunity to serve as CEO of this terrific company over the last three years,” Lynch said in the release. “There is a great executive team and board in place at Barnes & Noble, and I look forward to the many innovations the Company will be bringing to its millions of physical and digital media customers in the future.”
The changes comes after Barnes & Noble reported declining sales at its bookstores in the latest quarter and its Nook e-book devices pushed it to a net loss that more than doubled from a year ago.
In other changes, Allen Lindstrom, VP and the company’s corporate controller, has been promoted to CFO.
Max J. Roberts, CEO of Barnes & Noble College will continue to lead the digital education strategy and report to Huseby, as will the executive management team of NOOK Media. Huseby and Mitchell Klipper, CEO of the Barnes & Noble Retail Group, will report directly to Leonard Riggio, executive chairman of Barnes & Noble.
In a statement, Riggio said that the company is reviewing its current strategic plan and will provide an update when appropriate.
"As the bookselling industry continues to undergo significant transformation, we believe that Michael, Mitchell and Max are the right executives to lead us into the future," Riggio said.
Shaw’s, Star Market eliminate loyalty card
West Bridgewater, Mass. — Shaw’s and Star Market have ended their loyalty card program. The program offered shoppers sale prices on selected items.
In line with the decision to drop the loyalty card program, Shaw’s and Star Market announced they are lowering prices on thousands of items across all of its 169 locations.
“All of our customers deserve to get the lowest price on their groceries without needing to carry a Rewards Card with them,” said Shane Sampson, president, Shaw’s and Star Market. “Every customer who walks through our door deserves our best — from service to foods to pricing — and these lower prices are what our customers can expect from us every time they visit one of our stores.”
Shaw’s and Star Market’s decision to eliminate the program puts the company in line with such fast-growing grocers as Trader Joe’s and Aldi’s, which use low prices to drive sales.
NRF: Retail industry added 28,000 jobs in June
Washington — The retail industry added 28,000 jobs in June, according to the National Retail Federation. NRF said the industry had marked increases in every sector except furniture and home furnishings and health and personal care stores.
“Today’s strong jobs report is welcomed news for the economy and may signal positive and accelerated momentum for the second half of 2013,” NRF chief economist Jack Kleinhenz said. “Payrolls came in stronger than expected, including in the retail industry, which witnessed strong gains in building supplies, clothing and sporting goods. The economy is currently stable but traction and pace remain uncertain.”