Designer Todd Oldham Joins Old Navy
San Francisco, Gap. Inc. has hired Todd Oldham, who has experience in both interior design and fashion, as Old Navy’s new design creative director, effective Oct. 1. In addition to his merchandise-design duties, Oldham will also create a new line under his own name to be sold exclusively at Old Navy.
Oldham began his career in the fashion industry, but in recent years has shifted more to interior design. In 2002 and 2003, he designed a line of dorm-room furniture for Target Inc. Currently, he hosts an interior-design show on the Bravo network.
Old Navy has been the biggest drag on Gap during a downturn that is now entering its fourth year. Through the first half of this year, Old Navy’s comparable-store sales had fallen by 7% compared to last year.
Shopko Names Senior VP, CIO
Green Bay, Wis., Shopko announced the appointment of Tammy Hermann as senior VP and CIO. Hermann will report to Michael R. MacDonald, chairman and CEO.
Hermann has been with Shopko and Pamida for six years in the information services division.
In addition, Ray Petersen has been named chief technology officer and VP of e-commerce, reporting to Hermann. Petersen has been the VP operations technology and information security for the past three years.
Home Depot CEO: No Job Cuts, Core Store Closings
Atlanta, Home Depot Inc. will not be making any job cuts or close any of its core retail stores despite the housing decline, the company’s CEO told the Associated Press in an interview.
“We’re making investments, notwithstanding the downturn,” CEO Frank Blake said. “I think that’s absolutely the right thing to do for the business. It’s going to lead to long-term success.”
Home Depot had announced earlier this week that it was closing its 11 Landscape Supply stores (and previously shut down a number of its Expo design centers), but Blake said there are no plans to close any of the company’s more than 2,000 main retail stores.
“We’re not going to shut stores to save costs,” Blake said. “We don’t need to.”
Despite the stock performance, Blake insisted that Home Depot’s strategy to focus more attention on its core business is the right strategy for the world’s largest home-improvement store chain.
On other issues, Blake said Home Depot will look at opportunities in the future for more expansion overseas, though it doesn’t have any current plans. He indicated Home Depot wasn’t looking at Europe for expansion.