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Report: HSN’s Mindy Grossman not interested in joining Avon

BY Staff Writer

New York City — Mindy Grossman, CEO of HSN Inc., is staying at the home shopping giant and is not interested in becoming the next CEO at Avon Products Inc., according to Women’s Wear Daily.

The report cited a letter Grossman sent to top HSN executives at HSN.

Previous reports had Grossman as a top candidate to replace Avon CEO Andrea Jung, who agreed in December to resign.

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J.Petersen says:
Feb-21-2012 03:44 pm

It is understandable that she
It is understandable that she doesn't want to leave. I mean why mess with a good thing. Of course when better opportunities present themselves it can make us wonder if we should jump on board or just keep to what we love.

 

Well, TGIFfor the companies who offer some of the best and brightest from other companies better jobs but loyalty is most important.

J.Petersen says:
Feb-21-2012 03:44 pm

It is understandable that she doesn't want to leave. I mean why mess with a good thing. Of course when better opportunities present themselves it can make us wonder if we should jump on board or just keep to what we love.

 

Well, TGIFfor the companies who offer some of the best and brightest from other companies better jobs but loyalty is most important.

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Nordstrom does discount: Rack outlets gain ground on full line stores in 2012

BY CSA STAFF

Nordstrom’s transition from a retailer best known as an operator of upscale department stores to an off-price discounter is poised to continue in 2012 as expansion plans for Rack outlet stores outpace those of full line Nordstrom stores.

The company disclosed its 2012 expansion plans along with fourth quarter results and said it would spend between $480 and $520 million this year. Most of those dollars will go to build 11 new Rack stores and add to the existing base of 104 outlet stores, while only one new department store is planned. The company currently operates 117 full-line stores. If the current expansion trend continues, Rack stores will surpass Nordstrom stores in 2013 in terms of units but not square footage as the department stores average around 125,000 sq. ft., compared with the smaller Rack stores at 35,000 sq. ft.

Details regarding 2012 expansion plans were disclosed with the company’s fourth quarter results that saw profits increase a meager 1.7% to $236 million, despite a 7.1% increase in same store sales. Earnings per share advanced to $1.11 from $1.04. Net sales in the fourth quarter were $3.17 billion, an increase of 12.5% compared with net sales of $2.82 billion during the same period in fiscal 2010.

The company said its fourth quarter performance was consistent with the strong trends the company experienced throughout 2011. The company achieved record sales of $10.5 billion for fiscal 2011, while continuing to make significant investments in the business to evolve with customers and to enhance its platform for sustainable, profitable growth.

For the full year, profits were up $70 million to $683 million, an increase of 11.4%, compared with net earnings of $613 million for the prior year while earning per share increased to $3.14 from $2.75.

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Topco appoints interim president, CEO as full-time leader

BY CSA STAFF

SKOKIE, Ill. — A member-owned cooperative serving the food industry has appointed a new leader.

Topco has named Randall Skoda as its new president and CEO following the retirement of Steven Lauer. Skoda has served as interim president and CEO since December of last year. Prior to that, Skoda served as EVP for four years.

“Speaking on behalf of the board, we are excited about the leadership and experience Randy brings to his new role,” said Steve Smith, Topco’s chairman and K-VA-T Food Stores president and CEO. “Given the economic realities facing consumers and the grocery industry, the strategic importance of Topco to its food-industry member-owners has never been greater. Randy’s extensive knowledge of Topco and the grocery industry will help drive more value for each of Topco’s 51 members as well as take this great organization to the next level.”

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