OPERATIONS

Michaels investigates possible data breach

BY Dan Berthiaume

Irving, Texas – Michaels Stores has learned of possible fraudulent activity on some U.S. payment cards that had been used at Michaels, suggesting that the company may have experienced a data security attack.

In a statement posted to its website on Jan. 25, Michaels said it is working closely with federal law enforcement and is conducting an investigation with the help of third-party data security experts to establish the facts.

“Although the investigation is ongoing, based on the information we have received and in light of the widely-reported criminal efforts to penetrate the data systems of U.S. retailers, we believe it is appropriate to notify our customers that a potential issue may have occurred,” Michaels CEO Chuck Rubin said in the statement. “Throughout our 40-year history, our customers have always been our number one priority and we deeply regret any inconvenience this may cause. The privacy and security of our customers’ information is of critical importance to us and we are focused on addressing this issue.”

The U.S. Federal Bureau of Investigation last week warned retailers to expect more attacks and said the agency has reviewed 20 incidents over the past year that were similar to the recent breaches.

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OPERATIONS

Former Williams-Sonoma exec to head global retail at Levi’s

BY Staff Writer

New York — Levi Strauss & Co. has named Craig Nomura as president of global retail, effective Feb. 3, 2014. He joins Levi’s from Williams-Sonoma Inc., where he was most recently senior VP of global development.

Nomura, who also held leadership positions at Gap Inc., The Gymboree Corp., Guess?, Inc., and Foot Locker, succeeds Joelle Maher, who left Levi’s in June 2013 to join Gymboree as COO.

In his new position, Nomura will also serve as executive VP, reporting directly to president and CEO Chip Bergh. He will be responsible for Levi’s 2,800 stores around the world and the e-commerce operations.

“Craig is a true global citizen with a proven track record of delivering profitable growth for some of the world’s top retailers,” said Bergh.

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The Pantry recommends against board nominees

BY Dan Berthiaume

Cary, N.C. – The Pantry has confirmed that JCP Investment Management, LLC, and Lone Star Value Management, LLC (“the dissident group”) submitted a notice of intent to nominate director candidates to stand for election to The Pantry’s board of directors at the company’s 2014 annual meeting of stockholders.

After discussions between the company (management and selected directors) and the dissident group, the company’s corporate governance and nominating committee reviewed several individuals put forward by the dissident group and determined that they should not be nominated by The Pantry to serve on the board of directors.

After carefully evaluating several individuals put forward by the dissident group, we have determined that they do not possess the particular experience and expertise that the company is seeking in director candidates at this time,” said the Pantry in a written statement. “Our board is currently composed of 10 highly qualified directors, nine of whom are independent, who together possess significant retail, convenience store, consumer packaged goods, foodservice and financial experience that is highly relevant and critical to our business.”

The Pantry has had its current leadership team in place since March 2012 and will submit its board nominees in a proxy statement with the SEC prior to its March 2014 annual meetings.

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