Rite Aid CFO Joins Pathmark
New York City, John Standley, CFO of Rite Aid Corp. resigned to become CEO of Pathmark Stores Inc. Kevin Twomey will become acting CFO of Rite Aid, effective immediately, until a permanent replacement is found. In addition to being acting CFO, Twomey will remain senior VP and chief accounting officer of Rite Aid.
2Q Profit Up at Williams-Sonoma
Bentonville, Ark., Williams-Sonoma said quarterly profit rose nearly 12% on strong demand at its Pottery Barn and Pottery Barn Kids stores. Net revenues for the second quarter ended July 31, 2005, increased 12.6% over the second quarter of fiscal year 2004 to $776.2 million. Earnings rose to $30.8 million, or 26? a share, for the quarter, up from $27.6 million, or 23? a share, a year earlier.
Saks Department Store CEO Resigns
Birmingham, Ala., Saks Inc. announced the resignation of George Jones, president and CEO of the retailer’s Saks Department Store Group. The resignation is effective Sept. 30.
Replacing Jones effective Sept. 15 will be Toni Browning. Browning held the post of president and CEO of Saks’ Proffit’s/McRae’s unit, which was sold to Belk last month.