GNC names Talbots chief exec as CEO; Fortunato out
Pittsburgh – In a surprise announcement, GNC Holdings Inc. said that Joe Fortunato, chairman, president and CEO of the company, is stepping down. It named Michael G. Archbold, 53, CEO and CFO of The Talbots Inc., as CEO and member of the board, effective immediately. The change comes a week after GNC announced its second disappointing quarter this year.
Archbold has more than 25 years of retail industry experience. Prior to joining Talbots, he served in a variety of senior roles, including president and CEO of Vitamin Shoppe Inc. Archbold also previously held senior leadership positions, including serving as CFO, at Saks Fifth Avenue and AutoZone Inc.
"The board is committed to delivering improved financial results and creating value for GNC shareholders and we are pleased that Mike has agreed to join GNC,” said GNC chairman Mike Hines. “He is a world-class executive with highly relevant retail experience and financial expertise, proven leadership skills and a track record of developing strong corporate cultures and delivering superior financial performance. We have tremendous confidence in GNC’s prospects and in Mike’s ability to lead the company going forward."
Security breached at 33 P.F. Chang’s locations
Scottsdale, Ariz. – On dates ranging from October 19, 2013 and April 10, 2014, hackers compromised the security of credit card processing systems at 33 locations of the P.F. Chang’s restaurant chain in Florida, Maryland, New Jersey, Pennsylvania, Nevada and North Carolina, and may have stolen consumer credit card data. The U.S. Secret Service notified P.F. Chang’s of the breach on June 10, 2014 and P.F. Chang’s says it has been processing credit card numbers securely since June 11.
In a statement on the P.F. Chang’s website attributed to CEO Rick Federico, the company said it quickly moved to a manual processing system for all credit and debit card transactions to prevent any further potential exposure of customers’ credit and debit card information. The security compromise has been contained and P.F. Chang’s has replaced the affected hardware and returned to our standard credit and debit card processing system.
The potentially stolen data includes the card number and in some cases also the cardholder’s name and/or the card’s expiration date. However, P.F. Chang’s has not determined that any specific cardholder’s credit or debit card data was stolen by the intruder(s). P.F. Chang’s says it doesn’t have sufficient contact information to contact potentially affected guests directly, but has emailed customers that have provided their email address. The retailer is providing customers who used a credit card at the affected stores during the breach with free 12-month access to the All Clear Secure service.
According to the KrebsonSecurity blog, thousands of new credit card numbers went up for sale on a well-known underground website used by data thieves. Banks reported that all the numbers had been used beginning of March 2014 and May 19, 2014.
Newegg streamlines shopping experience with Visa Checkout
Newegg has turned to Visa to streamline the checkout process for its customers. The leading electronics-focused e-retailer will leverage the Visa Checkout payment service to simplify the process of buying online.
Visa Checkout can be used when shopping Newegg from a desktop computer and mobile devices. To mark the addition of the new service, Newegg is running a promotion until August 25 giving customers 10% (up to $20) off purchases made using Visa Checkout.
“Visa Checkout is a great service that helps our customers make their purchases on Newegg quickly and conveniently,” said Soren Mills, chief marketing officer of Newegg North America. “It removes much of the tedium inherent to the online checkout process, especially for our customers who like to shop on mobile devices.”
Customers can enroll for Visa Checkout by selecting it as a payment option during checkout, and creating a free account. Once enrolled, members can store payment information for cards with the Visa, MasterCard, American Express or Discover logo. Then, when it’s time to check out at Newegg, enrolled customers enter their Visa Checkout username and password without ever leaving the Newegg website.
Newegg was founded in 2001 and has more than 25 million registered users. It offers customers a comprehensive selection of the latest consumer electronics products, detailed product descriptions and images, as well as how-to information and customer reviews.