Esprit to shutter all North American stores
Hong Kong — Esprit Holdings said Thursday that it will close all 93 of its stores in North America, after abandoning previously announced plans to sell off the business or find a licensed operator to run the stores.
However, according to an emailed statement by Patrick Lau, head of investor relations and mergers and acquisitions, Esprit plans to find one or more license partners to maintain the brand’s presence in North America.
Sales in North America accounted for less than 4% of the apparel retail group’s $4.3 billion in revenue last year. The company had already started closing some stores here and negotiating the termination of the remainder of the store leases. The U.S. and Canadian subsidiaries haven’t decided yet whether to seek Chapter 11 bankruptcy relief.
Macy’s appoints a new chief stores officer, and a new CMO
Cincinnati — Macy’s Inc. announced that Peter Sachse, the company’s chief marketing officer and chairman of Macys.com, will succeed Ron Klein as chief stores officer, effective Feb. 13. Klein will retire from Macy’s effective March 31, after 36 years with the company.
Martine Reardon, executive VP marketing, will succeed Sachse as Macy’s chief marketing officer, effective Feb. 13.
In his role as chief stores officer, Sachse will be responsible for the nationwide portfolio of Macy’s stores, as well as the region and district stores organization and visual merchandising. He also will retain responsibility for the company’s omnichannel strategy, which brings together stores, online and mobile capabilities to serve customers whenever and wherever they want to shop. He will remain a member of the company’s executive committee.
Jeffrey Gennette, Macy’s chief merchandising officer, will assume additional responsibility for overseeing marketing and Macys.com.
Jeff Kantor, president merchandising of Macys.com, will become chairman of Macys.com, effective Feb. 13.
“These changes reflect the strength of our senior-level talent and the teamwork that drives our company’s key growth strategies – My Macy’s localization, omnichannel, and MAGIC Selling customer engagement. Our organization is deep and experienced, which facilitates our ability to crisply execute strategies and to move quickly to capitalize on new opportunities as they arise,” said Terry Lundgren, president and CEO, Macy’s.
Staples names former Borders CEO as executive VP
Framingham, Mass. — Staples announced the appointment of Mike Edwards to executive VP, U.S. retail merchandising. He previously served as president and CEO of Borders Group and had also served as the company’s chief merchant.
“Mike brings proven leadership, great knowledge and experience to Staples,” said Demos Parneros, president of U.S. retail for Staples. “Mike will drive innovative merchandising initiatives across our U.S. stores, enabling us to continue to meet the evolving needs of the millions of small businesses and consumers who rely on Staples as their trusted source for office solutions.”