OPERATIONS

Roger Farah to retire from Ralph Lauren

BY Marianne Wilson

New York — Ralph Lauren Corp. on Friday announced that Roger Farah, executive chairman, will retire at the end of May. He will remain on the company’s board until his term expires in August. Farah, one of the retail industry’s most respected executives, is credited with turning Ralph Lauren into a global powerhouse. He has been mentioned as one of the potential candidates to take the reins of Target Corp. in the wake of Gregg Steinhafel’s departure.

“Roger is a spectacular leader, trusted advisor and a good friend,” said Ralph Lauren, chairman and CEO. “I am tremendously grateful for his important contributions to the growth of this company. During his tenure, Roger helped us assume direct control of our most strategically important regions and merchandise categories, evolving our company into a highly profitable, global business."

Following Farah’s retirement, a number of top executives will make up the office of the chairman, including CEO Lauren and COO Jacki Nemerov.

Farah’s retirement was announced with the company’s report of fourth-quarter earnings results. For the three months ended March 29, net income rose 20.5% to $153 million from $127 million a year ago. Net revenues for the quarter rose 13.6% to $1.87 billion, from $1.64 billion.

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Ralph Lauren executive vice chair to exit

BY CSA STAFF

Ralph Lauren’s executive vice chairman Roger Farah plans to leave the company at the end of the month. Farah will remain on the board of directors until the expiration of his term on the date of the company’s 2014 annual meeting of stockholders in August.

“Roger is a spectacular leader, trusted advisor and a good friend,” said chairman and CEO Ralph Lauren. “I am tremendously grateful for his important contributions to the growth of this company. During his tenure, Roger helped us assume direct control of our most strategically important regions and merchandise categories, evolving our company into a highly profitable, global business. He’s cultivated an impressive team of leaders who are ready to build on the strong foundation he has established. I wish Roger and his family all the best.”

“The last fourteen years have been among the most rewarding of my career. It has been an honor to work with Ralph and the team. I am very proud of what we accomplished, and I am excited to watch the company evolve as it pursues its many compelling growth opportunities. I am confident that the leadership team, under Ralph’s guidance and vision, is well prepared to execute the next phase of the company’s development and continue to create significant value for its shareholders,” added Farah.

As a result of Farah’s exit, the company’s office of the chairman will be made up of Lauren; Jacki Nemerov, president and COO; Chris Peterson, EVP, chief administrative officer and CFO; and Valérie Hermann, president, Ralph Lauren Luxury Collections.

Farah’s retirement was announced with the company’s report of fourth-quarter earnings results. For the three months ended March 29, net income rose 20.5% to $153 million from $127 million a year ago. Net revenues for the quarter rose 13.6% to $1.87 billion, from $1.64 billion.

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OPERATIONS

Revel Systems partners with local retailers on pop-up in San Francisco

BY Marianne Wilson

San Francisco — Revel Systems, a leading provider of iPad point-of-sale solutions, has opened its first pop-up store, in historic Ghirardelli Square, San Francisco. The initiative is a joint effort between Revel Systems and PopUpShopUp. The Revel pop-up is designed as a multi-use space hosting a variety of QSR & retail businesses that Revel has invited to be given the opportunity to have a physical store for the first time.

"We are seeing that urban development groups and businesses are willing to work together to establish temporary retail spaces in major cities across the states. One of the biggest barriers to entry for many small businesses has been payments and a proper POS system, which Revel has made easy," said Steven Lucero of PopUpShopUp. "

A total of 15 local merchants will be using Revel for their business operations at Ghirardelli Square.

This collaboration is one of the first of its kind where a technology vendor is empowering makers and SMB’s to combine the best of payments innovation while using the historical legacy of the iconic Ghirardelli Square to innovate San Francisco’s maker movement with a new and exciting retail experience in a temporary space.

"Our informal motto at Revel is the American Dream in a box. As a startup, we understand how hard it is to get a business up and running, which is part of the reason why we wanted to help local businesses through this initiative," said Lisa Falzone, CEO and co-founder of Revel Systems. "This event has allowed merchants to get setup in literally 24 hours. With the addition of the pop-up store concept, it has never been easier for businesses of all sizes to get off the ground and thrive. We invite you to come down and see our 12 merchants in action all this week."

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