Former Head of Dayton Hudson Dead at 69
New York City Kenneth A. Macke, who served as chairman and CEO of Dayton Hudson Corp. from 1984 to 1994, died Saturday in Napa, Calif., from complications associated with Parkinson’s disease. He was 69.
Macke joined Dayton’s in 1961 as a merchandise trainee and began a 33-year career in retailing, rising through the ranks to head merchant positions at Dayton’s and Target. In 1976, he was named president and CEO of Target, and in 1977 was named chairman and CEO of Target. During that time, Target grew from 49 stores in 9 states to 137 stores in 16 states and became the corporation’s top profit-maker.
In 1981, Macke was elected president of Dayton Hudson Corp., and in 1983 became CEO. Under his leadership, the company grew from 350 stores to 909 stores in 33 states and revenues more than doubled to over $19 billion. Among his greatest accomplishments was the growth of Target.
Macke’s commitment to provide opportunities for women and minorities brought national recognition to Dayton Hudson. He was named by many publications and groups as one of America’s best managers.
After his retirement, Macke moved to the Napa Valley and continued to mentor and invest in retail entrepreneurs.
NEW YORK InterActiveCorp, which owns HSN, said that it expects the spin-off of its Cornerstone Brands catalog business to result in an estimated $300 million in goodwill impairment and an operating loss in the first half of 2008, according to a Reuters report.
Cornerstone will become part of a new unit that will also include HSN under a restructuring plan to be completed by early August, the report said.
Charming Shoppes reports board changes
BENSALEM, Pa. Charming Shoppes announced that at its annual meeting of shareholders held today, shareholders re-elected Dorrit Bern, the company’s president and ceo, and Alan Rosskamm to the board of directors, and elected Arnaud Ajdler, Michael Appel, Richard Bennet III and Michael Goldstein as new directors to the company.