Millard ‘Mickey’ Drexler
As comebacks go, they don’t get much sweeter than the one Millard “Mickey” Drexler, 62, engineered at J. Crew Group. The former Gap CEO not only turned around the once-struggling J. Crew, but also re-made it into one of the hottest fashion chains around. Drexler improved the quality and styles of the J. Crew offering, and gave it a more luxurious tint by adding higher-end pieces to the mix. He brought in new merchandise categories, and is expanding the company’s retail portfolio with new formats.
A merchant through and through, Drexler runs his business on passion, gut instinct and an attention to detail that is legendary throughout the industry. It’s all paying off for him big time at J. Crew: After presiding over one of the most successful retail IPOs ever, Drexler has watched as the company’s fortunes—and his own—have soared. It’s a measure of his stock that Drexler is No. 1 on the wish lists of most industry experts and analysts whenever the top spot opens at a specialty apparel chain.
Borders to offer free resolution workshops
ANN ARBOR, Mich. Borders said Thursday that it is offering customers free in store events throughout the month of January to help them kick start their new year’s resolutions and learn how to keep them through the year. Programs include wellness fairs, yoga classes and diet seminars.
Borders reported that local organizations and community groups will be featured in activities and events at its stores across the country ranging from fitness centers and hospitals to singles groups and retirement centers.
Schulze sells 440K shares of company stock
MINNEAPOLIS Best Buy chairman and founder Richard Schulze sold 440,000 shares of Best Buy stock last week valued at $22.4 million. Schulze sold the stock at prices ranging from $50.71 to $51.18 per share. Earlier this month, Schulze sold 2.35 million shares valued at more than $120 million.
While Schulze’s stock sales are considerable, they represent just a fraction of his holdings at Best Buy. He’s estimated to still hold more than 68 million shares of stock amassed during 41 years with the company.