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HSN’s CFO takes on added role of COO

BY Staff Writer

St. Petersburg. Fla. – HSN Inc. said Wednesday that it has appointed CFO Judy Schmeling to the additional role of COO, effective immediately. Schmeling has been serving as HSN’s executive VP and CFO since 2001.

In her new role, Schmeling will be responsible for supply chain operations and customer care functions, in addition to providing ongoing leadership for finance and IT.

"Under Judy’s leadership, we have strengthened our competitive position, achieved significant top- and bottom-line growth and increased shareholder value. She is superbly qualified to oversee our new operational centers of excellence, which are part of our continued drive to integrate key activities across all of our brands, maximize efficiency and deliver an immersive, seamless end-to-end customer experience," said Mindy Grossman, CEO, HSN.

Schmeling joined HSN in 1994 as director of investor relations and treasury.

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Safeway stockholders approve BOD recommendations

BY Staff Writer

Pleasanton, Calif. — Preliminary results from the Safeway annual stockholder’s meeting show that a majority of stockholders followed board of directors recommendations in electing each of the eight directors with a majority of at least 73%. Stockholders also approved the appointment of Deloitte & Touche LLP as Safeway’s independent accounting firm for fiscal 2013.

In addition, stockholders followed board recommendations by approving an advisory vote on executive compensation with a 70% majority and reapproving the 2007 equity and incentive award plan with a 92% majority

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Macy’s Q1 profit up 20%

BY Dan Berthiaume

Cincinnati — Macy’s reported increases in sales and income for the first quarter of 2013 compared to the same period a year earlier, despite cool weather that delayed spring shopping in key markets. Net income was $217 million, a 20% hike from $181 million in the year-ago period.

While net income slightly beat analyst predictions, same-store sales rose 3.8%, short of the 4.3% expected by analysts. Net sales totaled $6.39 billion, up 4% from $6.14 billion in the year-ago period.

“We are especially pleased with our first quarter sales and earnings performance given the challenges we overcame in this period,” said Macy’s chairman, president and CEO Terry J. Lundgren. “These included sustained, unseasonably cool spring weather in our northern climate zones.”

Lundgren added that the chain saw weakness among some of the most budget-conscious consumers, as well as among its higher household income Bloomingdale’s customers.”

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