New Job for Schultz at Sears
Hoffman Estates, Ill., Sears Holdings Corp. named Lisa Schultz, a former high-ranking designer at Gap Inc., to the newly created position of executive VP, Sears Holdings apparel design. In her new role, Schultz will have responsibility for all of Sears’ and Kmart’s apparel design teams and will report to chairman Edward S. Lampert. She was previously senior VP of design for Kmart. “In two years, Lisa has assembled a team of talented and enthusiastic designers and has refashioned and defined the Kmart apparel line,” said Lampert.
A&P CFO Resigns
Montvale, N.J., Great Atlantic & Pacific Tea Co., which operates A&P Groceries, announced that CFO Mitchell P. Goldstein stepped down today. He will be replaced by corporate controller Brenda Galgano.
Goldstein is said by A&P to be leaving to pursue other opportunities.
A&P has been struggling for the last year, but just last month posted a quarterly profit.
Wal-Mart Releases Statement to Refute Video
Bentonville, Ark., The following excerpt is from a statement released by Wal-Mart Stores today in response to the documentary “Wal-Mart: The High Cost of Low Price,” launched today in New York City and Los Angeles and slated to be shown in 3,000 private screenings nationwide.
Regarding the documentary produced by Robert Greenwald that portrays Wal-Mart as a behemoth that destroys small towns and pays poverty-level wages, Wal-Mart said, “The 138 million people who shop at our stores every week speak volumes more about Wal-Mart than any special interest video. In fact, last month, our loyal customers spoke very loudly. Wal-Mart just enjoyed its best October ever—and our best Halloween ever.”
The statement went on to say, “No matter how much Robert Greenwald talks to the special interests, he just won’t change the personal experiences that our customers, our associates and the American people have with our company.”