Report: Target tapping alternative energy for North Carolina store
Minneapolis – Target Corp. is reportedly bringing a sunny approach to energy at its store in Fayetteville, North Carolina.
According to the Fayetteville Observer, Target will install solar panels that can generate 432 KwH of electricity per year on the store’s roof. There is no firm launch date yet for the store’s solar panels, which will likely generate 15%-30% of its total electricity needs.
The Fayetteville store is one of about 30 Target stores in North Carolina and 150 stores in other states currently slated for solar panels. Target will become the first major retailer to use solar power for stores in North Carolina.
By the end of 2015, Target plans to have 238 stores and distribution centers in 15 states equipped with solar panels. Target also plans to have solar panels on the roofs of 500 stores and distribution centers by 2020.
Loreal veteran joins executive suite at Toys”R”Us
Toys“R”Us has looked to a Loreal veteran to take over its human resources division.
The retailer announced that it has named Tim Grace as executive vice president, global chief talent officer, effective immediately. In this role, the company says Grace will oversee all global human resources functions, including organizational design, talent acquisition, succession planning, learning, change management and labor and employee relations, as well as compensation and benefits. He will report to Dave Brandon, Chairman and CEO, Toys“R”Us, Inc.
“Tim is a passionate leader who cares deeply about developing high-performing teams,” said Brandon. “In championing our 66,000 employees around the world, we believe Tim will help make our company’s culture and talent a competitive advantage, and we are pleased to welcome him as a key member of our leadership team.”
Grace previously served as group vice president, human resources, L’Oreal Group, where he led all human resources functions across North and South America. Prior to that, he spent 12 years at Schindler Elevator Corporation as senior vice president, human resources and administration. In this role, Grace was responsible for human resources in the Americas, and led many initiatives designed to ensure innovative and progressive human resources practices throughout the entire global organization.
Earlier in his career, Grace held various senior human resources roles at Wise Foods, Diageo (formerly Grand Metropolitan) and in the Frito Lay division of PepsiCo. He received a bachelor’s degree in industrial psychology from the State University of New York at Fredonia and Master of Science in Industrial and Labor Relations from West Virginia University.
Chico’s may be in talks for a buyout
Chico’s FAS Inc. may be considering a sale to one of several private equity suitors.
According toBloomberg,Chico’s has been approached by Sycamore Partners and is also in talks with other private equity groups about a possible sale.
Chico’s is said to be working with investment bank Peter J. Solomon. Sycamore Partners attempted to purchase Chico’s in February 2015, but the deal fell apart due to financing issues. Activist investor group Blue Harbour, Chico’s biggest shareholder, has been pushing the retailer to sell itself since 2013.
In August, Chico’s announced it would sell its Boston Proper specialty women’s apparel business to an unspecified buyer for an undisclosed sum, and close all 20 Boston Proper stores. Earlier this year, the retailer launched a turnaround plan that includes closing some 120 stores through February 2017, cutting jobs and reducing spending, mostly due to impairment and restructuring charges related to Boston Proper. Net sales and same-store sales both slightly increased.