Retail container traffic to increase 3.2% in April
Washington, D.C. — Import cargo volume at the nation’s major retail container ports is expected to increase 3.2% in April compared with the same month last year, and year-over-year gains should continue through the end of summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Retailers are continuing to watch rising gas prices, but job gains and other indicators show the economy is strengthening,” NRF VP for supply chain and customs policy Jonathan Gold said.
J.C. Penney CFO to step down on Friday
New York — J.C. Penney Co. on Wednesday said that CFO Michael Dastugue will depart the company, effective April 13. Dastugue, 47, has been at J.C. Penney since 1991. He was named CFO in January 2011. His departure is the latest shake-up in management as new CEO Ron Johnson works to transform the chain.
Mike Kramer, COO, will assume the CFO duties on an interim basis while a search for a replacement is conducted. Kramer joined J.C. Penney in December, shortly after his former boss at Apple Inc., Ron Johnson, became J.C. Penney’s CEO.
Dastugue’s departure comes less than a week since J.C. Penney said it would cut 900 jobs to cut costs.
Lowe’s CIO to retire
Mooresville, N.C. — Lowe’s Cos. announced that Michael K. Brown, executive VP and CIO, will retire after almost 28 years with the company. The company has begun a search for a replacement. Brown will continue to serve in his present role for a period of time to assist with the transition.
Brown was named CIO in 2011 after a 26-year career in store operations and merchandising. He joined the company in 1984.
“After a successful career in store operations and merchandising, Mike took on responsibility for the company’s IT function, upgrading technology and store infrastructure, positively impacting employees’ ability to access information and better serve customers said Robert A. Niblock, chairman, president and CEO. “We respect Mike’s decision to go a different direction and wish him well.”