HanesBrands announces new CFO, other executive appointments
WINSTON-SALEM, N.C. — HanesBrands announced that it has promoted Richard Moss to chief financial officer effective immediately.
Moss, 53, who has served as the company’s treasurer since January 2006, was chosen to fill the open CFO position after an extensive review of internal and external candidates, HanesBrands reported. Moss will oversee the company’s global finance, investor relations and corporate development functions.
“I am pleased to announce Rick’s well-deserved promotion to CFO,” said Hanes chairman and CEO Richard Noll. “Rick has been an instrumental member of the Hanes finance team since the company’s spinoff and has played an integral role in our success. As CFO, he will add significant value to the company based on his finance skills, knowledge of the business, and his past experience as CFO of a publicly traded company.”
Moss, who will report to Noll, has been responsible for treasury, corporate development, risk management, and the tax and credit functions at Hanes. Prior to joining the company, he served as vice president and chief financial officer of publicly traded Chattem Inc., a leading marketer and manufacturer of over-the-counter consumer health-care products. He has also held treasurer and senior finance positions with Sealy Mattress Company, Ansaldo Signal NV, Union Switch & Signal, and General Motors’ Saturn Corp. subsidiary.
The company also announced the appointment of Gerald W. Evans Jr. and William J. Nictakis as co-chief operating officers with joint responsibility for running all of the company’s businesses. Reporting to the co-chief operating officers will be the presidents of the company’s innerwear, outerwear, and direct-to-consumer businesses, as well as the leaders of the company’s international businesses. Evans and Nictakis will also oversee the company’s global supply chain and information technology functions.
Evans, 52, who most recently was president of the company’s international businesses and the company’s global supply chain, joined Hanes in 1983 and has served in numerous leadership and senior executive capacities. Nictakis, 51, who most recently served as president of domestic businesses, joined Hanes in 2007 after significant success as a senior executive of commercial operations with Sara Lee Corp.’s Food & Beverage division and PepsiCo’s Frito-Lay Inc., subsidiary.
Dale W. Boyles, HanesBrands’ controller and chief accounting officer who served as interim CFO since May has been appointed to the new position of operating chief financial officer, reporting to Moss. Boyles, 50, will lead the finance organization that supports Evans and Nictakis as co-chief operating officers.
Supervalu commits $1M to youth sports sponsorship
EDEN PRAIRIE, Minn. — Supervalu announced that it has committed $1 million to sponsor 1,542 youth sports teams in markets where its Acme, Albertsons, Cub Foods, Farm Fresh, Jewel-Osco and Shaws/Star Market stores operate.
According to the company, the sponsorships, which began last spring, have helped to offset the cost of local youth baseball and soccer programs for kids between the ages of four and 10. All told, the sponsorships have supported 1,542 teams—761 baseball teams and 781 soccer teams—providing more than 20,000 kids with the opportunity to participate in sports.
“As America’s Neighborhood Grocer, we are continuously looking for opportunities to give back to our local communities, particularly in areas that promote healthy lifestyles,” said Shelly Nelson, Supervalu corporate director of strategic media services. “Because diet and exercise are important to well-being, we saw this sponsorship as a complement to our focus on helping our shoppers eat well and a nice way to support stronger—and healthier—neighborhoods.”
TRU hopes to boost holiday sales with layaway expansion
Wayne, N.J. — Ahead of the holiday season, Toys"R"Us announced that it will expand its layaway program and incorporate flexible payment options in order to spur holiday sales. The retailer is offering its layaway service along with Bill Me Later to enable customers to complete purchase through a series of smaller payments over time.
Toys"R"Us introduced layaway in 2009 for such big-ticket items as bicycles and swing sets and on Oct. 15 will expand the program to include playthings in 450 of its 600 stores.
The in-store layaway option gives customers 90 days to pay for their item(s), with a 20% down payment. Layaway orders for toys must be paid in full by Dec. 4 in order to guarantee Christmas availability.
As part of its expanded services, Toys "R" Us is offering online customers a Bill Me Later option to make flexible payments over time as an alternative to the in-store layaway program. As well, the retailer is debuting its first online catalog, highlighting many of the big-ticket items that can be put on layaway in all stores nationwide, or purchased online using the Bill Me Later payment option.
With an expanded layaway service and expanded seasonal hiring, Toys"R"Us’ actions imply the retailer is gearing up for what it hopes will be a strong holiday season. Though at an September press event in New York City CEO Jerry Storch stopped short of pinpointing a comparable-store forecast for this year, he appeared confident that Toys"R"Us breadth of assortment, particularly of exclusives, will help position the retailer as the toy leader this holiday season.