Birks & Mayors chief to resign
Montreal — Jewelry chain Birks & Mayors said Wednesday that its president and CEO Tom Andruskevich has said he will resign from the company, effective spring 2012, and will continue in a new board role as vice chairman.
His spring 2012 resignation is contingent upon the naming of a successor. He said he is leaving because he wants to pursue “board positions and advisory roles for luxury brands and other high-end companies.”
Andruskevich joined the company in his current capacity in June 1996.
Passionate Pets names former Petco exec to board
Irvine, Calif. — Pet retailer Passionate Pets said Thursday it has named Keith Martin, former senior VP operations at Petco, to its board of directors.
The company also named Todd Peterson, CPA at KSNE2 Enterprises, to the board.
The company is preparing for an IPO and, according to its president and CEO John Dunn, who worked with Martin at both Petco and Office Depot, the pair is expected to help lead Passionate Pet through the IPO stage.
Bed Bath & Beyond Q2 profit up 26%, talks expansion
Union N.J. — Bed Bath & Beyond reported Thursday that net income for the quarter ended Aug. 27 rose 26% to $229.4 million, amid improved sales and contained costs. Sales for the quarter rose 8.3% to $2.3 billion, and same-store sales increased 5.6%.
In its quarterly conference call, the company said it sees an opportunity to operate in excess of 1,300 Bed Bath & Beyond stores, as well as grow its Christmas Tree Shops and buybuy Baby concepts nationwide. Additionally, it will continue to open Harmon Face Values store. Including the 24 stores it has opened to date, it anticipates opening a total of about 40 stores across all its concepts in fiscal 2011.
The retailer raised its third-quarter and full-year outlook.