BevMo! taps Safeway exec as chief merchant
New York — Specialty beverage retailer BevMo! Named Douglas J. Ratto as executive VP, chief merchant. Ratto will lead the buying, planning, allocations and distribution teams at BevMo!
Ratto comes to BevMo! with more than 25 years of retail and marketing management experience. Since 2010, Doug served at Safeway as senior VP, GM of alcohol/tobacco, home care/general merchandise & family care.
Pier 1 announces $200 million share repurchase program
Fort Worth, Texas — Pier 1 Imports announced that its board of directors has authorized a new $200 million share repurchase program.
The new share repurchase program is effective immediately and authorizes the repurchase of up to $200 million of the company’s common stock in open market or private transactions. As of October 17, 2013, Pier I had approximately 103.8 million shares of common stock outstanding.
Hibbett Sports announces board transitions
Birmingham, Ala. — Hibbett Sports announced that effective February 2, 2014, Mickey Newsome will transition from his current position as executive chairman and employee of the company to non-executive chairman.
The retailer also announced that Jeff Rosenthal, president and CEO, has been appointed to the board of directors, effective immediately, thereby increasing the size of the board to ten members.
Mickey Newsome stated: “It has been my life’s work and privilege to lead Hibbett Sports for the past 48 years, as well as to bring many of the world’s leading brands to the communities we serve. The end of this fiscal year is an appropriate time for me to transition from my day-to-day executive duties to my responsibilities as non-executive chairman. I’m confident that the team, under Jeff’s leadership, will continue to deliver the growth, customer service, associate development and strong shareholder returns that we have all come to expect from Hibbett.