Christopher & Banks Extends Deal with Execs
Minneapolis, Christopher & Banks Corp. on Monday said it has extended the contracts of two outgoing executives. Joseph Pennington, 59, president and COO, has agreed to extend his employment contract with the women’s clothing chain through Aug. 31, 2006. He will then stay on as a part-time employee in an advisory role through Feb. 28, 2007.
Christopher & Banks also said Ralph Neal, executive VP of store operations, has agreed to extend his contract through April 30, 2006. He will continue to work with the company on a part-time basis through Feb. 28, 2007.
Pennington and Neal will both work closely with Christopher & Banks to transition their responsibilities, the company said.
New Contract For Kroger Unions
New York City, Seven International Brotherhood of Teamsters locals representing 3,200 workers in Southern California have approved a new five-year contract for Kroger, the nation’s largest grocer by sales.
Kroger, Albertson’s and Safeway, the nation’s big-three supermarket chains, endured lengthy labor strikes last year, causing millions of dollars worth of losses.
Hurricane Update: Most Stores Closed Due to Rita Reopen
New York City, Even though Texas and Louisiana residents who fled Hurricane Rita remain displaced, the majority of retailers have restocked their shelves as they await the return of their customers.
Bracing for the wrath of Rita, Wal-Mart closed 155 stores on Saturday morning. By Sunday, all but 52 were open for business. Similarly, Target was able to reopen 28 of its 32 closed stores.
“While there was a disruption, it won’t be cataclysmic,” for merchants, said Scott Krugman, a spokesman at the Washington-based National Retail Federation. “This should have a minimum impact on nationwide sales.”
The Home Depot, the nation’s largest home improvement retailer, also reopened its doors in Texas and Louisiana. Furthermore, company spokesman Don Harrison said that over 100 trucks have been dispatched to bring additional supplies to Home Depot stores, so full shelves will greet their customers.