FINANCE

Kohl’s Projects Online to Grow

BY CSA STAFF

Menomonee Falls, Wis. Kohl’s Corp. said Wednesday that while it is still behind major rivals in its Internet business volume, it expects to increase online sales in 2008.

“Our Internet business is going to grow hugely this year, particularly in the second half,” Kohl’s CEO Larry Montgomery said at a Bank of America conference that was broadcast over the Internet.

According to Montgomery, a new Web site and expanded online assortment would help the push.

Kohl’s has reported drops in same-store sales for the past three months. Montgomery said lower-end goods were showing the most weakness.

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Blue Nile cfo steps down

BY CSA STAFF

SEATTLE Blue Nile has announced that Robin Easton has resigned from the role of cfo to pursue other interests, effective March 31. The company said it has begun a search to fill the cfo position.

Upon Easton’s resignation, Terri Maupin, the company’s vp of finance and controller, will assume the duties of the principal financial and accounting officer. Maupin has served as the company’s vp of finance since July 2004 and controller since September 2003. Prior to Blue Nile, Maupin served as the staff vp of finance and controller at Alaska Air Group.

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MGP Ingredients ceo resigns

BY CSA STAFF

ATCHISON, Kan. Ladd Seaberg has announced that he is stepping down as ceo of MGP Ingredients, effective immediately. Seaberg will continue to serve as chairman of the board of directors. He is being succeeded as ceo by MGPI President Tim Newkirk, who has also served as coo of the company since May 2006.

“I am very comfortable with the timing of this transition from my role as ceo, and have the utmost confidence in Tim Newkirk’s abilities to lead our company forward,” Seaberg said.

Seaberg became chairman of MGPI’s board in October 2006, succeeding Cloud Cray, who had held the post for 26 years. He has served as ceo of the company since 1988.

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