Payless, Nature Conservancy in eco-preservation effort
Topeka, Kan. Payless ShoeSource is rolling out ecologically friendly shoes and handbags that will initially raise money to plant trees in Brazil.
The chain announced Monday that it is launching a new brand called Zoe & Zac, that use organic cotton and linen, recycled rubber outsoles and water-soluble glues. The new line features eight women’s footwear styles, two handbags, three girl’s shoes, as well as a range of jewelry and socks All of the products are priced under $30.
Payless’ parent company Collective Brands said it will donate to The Nature Conservancy $1 for every Zoe & Zac item sold through May 4 and every reusable Payless shopping bag sold throughout the year. The group plans to use the money to rebuild the Atlantic Forest in Brazil.
The company said it’s committed to raising at least $100,000.
A.C. Moore CFO resigns
Berlin, N.J. A.C. Moore Arts & Crafts announced the resignation of Michael G. Zawoysky, the company’s executive VP and CFO, effective April 24.
Zawoysky plans to pursue a career opportunity in the private equity sector. The company will be conducting a search for a new CFO.
Jones Apparel CEO salary up 68% to $5.4M
New York City Wesley R. Card, president and chief executive of Jones Apparel Group, received compensation valued at $5.4 million in fiscal 2008, up almost 68% from a year earlier, according to a regulatory filing on Friday.
The company paid Card a base salary of about $1.6 million, up 20% from the previous year. Card voluntarily elected not to accept an $810,000 cash-incentive award, which was based on corporate performance, because of current business conditions and the impact it would have on the company’s associates.
Card also received restricted stock awards valued at roughly $3.6 million on the day they were granted.
Additionally, Jones paid Card $208,566 in all other compensation, which included an apartment in New York and a car allowance and services.
In February, Jones Apparel Group said it posted a bigger fourth-quarter loss because of hefty charges, higher promotions and a weak holiday season. At that time, the company said it would eliminate 185 positions, or 4% of its wholesale and corporate full-time work force.