FINANCE

Collective Brands Reports 4Q Losses

BY CSA STAFF

Topeka, Kan. Collective Brands, the company that operates Payless ShoeSource and Stride Rite footwear stores, said Wednesday that same-store sales declined 6.8% at Payless on a comparable calendar basis.

Collective Brands warned that in the next six to nine months, same-store sales may miss long-term goals.

In related news, Collective Brands said about 180 employees would lose their jobs due to the closure of two North American distribution centers. The company said it plans to create about 130 new jobs at two other distribution centers.

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Blue Nile cfo steps down

BY CSA STAFF

SEATTLE Blue Nile has announced that Robin Easton has resigned from the role of cfo to pursue other interests, effective March 31. The company said it has begun a search to fill the cfo position.

Upon Easton’s resignation, Terri Maupin, the company’s vp of finance and controller, will assume the duties of the principal financial and accounting officer. Maupin has served as the company’s vp of finance since July 2004 and controller since September 2003. Prior to Blue Nile, Maupin served as the staff vp of finance and controller at Alaska Air Group.

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MGP Ingredients ceo resigns

BY CSA STAFF

ATCHISON, Kan. Ladd Seaberg has announced that he is stepping down as ceo of MGP Ingredients, effective immediately. Seaberg will continue to serve as chairman of the board of directors. He is being succeeded as ceo by MGPI President Tim Newkirk, who has also served as coo of the company since May 2006.

“I am very comfortable with the timing of this transition from my role as ceo, and have the utmost confidence in Tim Newkirk’s abilities to lead our company forward,” Seaberg said.

Seaberg became chairman of MGPI’s board in October 2006, succeeding Cloud Cray, who had held the post for 26 years. He has served as ceo of the company since 1988.

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