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Kronenberg to resign from Children’s Place

BY CSA STAFF

SECAUCUS, N.J. The Children’s Place Retail Stores has announced that Jill Kronenberg, senior vp, general merchandise manager for The Children’s Place brand since October 2006, has resigned from the company to spend more time with her family. Dina Sweeney and Celeste Risimini-Johnson have been promoted to group vp and vp, respectively, who between them will divide the responsibilities of Kronenberg.

Said Kronenberg, “I have appreciated being part of The Children’s Place team and believe the brand is headed in the right direction with exciting fashion, color coordinated outfitting, and great value. I am honored to have worked with such a talented and dedicated group of people and wish the Company all the best. I am looking forward to this next stage in my life and spending more time with my family.”

Sweeney and Risimini-Johnson are both merchandising veterans of The Children’s Place, each having spent over 15 years with the company.

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Time Warner Cable to sell services at Wal-Mart

BY CSA STAFF

NEW YORK Time Warner Cable is now offering its cable, broadband internet access and digital phone service in nearly 700 Wal-Mart locations. Customers can sign up for services with the help of a Wal-Mart electronics associate, guiding them on selecting packages of their choice through easily accessible in-store kiosks at the Wal-Mart “Connection Center.”

Time Warner Cable ceo Glenn Britt said: Todays consumer is looking for value and convenience. We know that they want to watch what they want, when they want, and many want it in high definition. They want fast, reliable internet access and they want unlimited calling plans. This partnership with Wal-Mart provides customers better access to their entertainment and communications needs with just one stop, making our customers lives even easier. 

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Circuit City 4Q earnings up, sales down

BY CSA STAFF

RICHMOND, Va. Circuit City Stores reported net earnings of $4.5 million, or 3 cents per diluted share, for its fourth quarter ended Feb. 29 compared to a net loss of $7.2 million, or 4 cents per diluted share for the same period last year.

The company reported that net sales for the quarter decreased 7.7% to $3.65 billion from $3.95 billion in the prior year, with consolidated comparable-store sales decreasing 10.4%.

 

“While the financial results to date clearly do not reflect the expected benefits of our initiatives, we firmly believe the company has the right strategy, the right focus, the right management team and sufficient resources, including expected cash flows and borrowing capacity, to complete our turnaround plan and create long-term sustainable shareholder value,” said Philip Schoonover, chairman, president and ceo of Circuit City Stores.

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