Starbucks, South Side of Chicago
Starbucks’s new store on the South Side of Chicago is part of the coffee giant’s initiative to support local economic development in at least 15 diverse, low- to-medium-income communities by 2018. It’s the chain’s fourth such store, and follows locations in Ferguson, Missouri, Phoenix, and Queens, New York.
Similar to its three predecessors, the Englewood store aims to help revitalize its neighborhood by creating meaningful local jobs, investing in local minority-owned contractors and suppliers, and providing an in-store job skills training program for youth (conducted in a specially designed classroom space in the store).
The new Starbucks has an urban feel, and is highlighted with two paintings by Chicago artist David Anthony Geary.
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Dick’s Sporting Goods taps company veteran as CFO
Dick’s Sporting Goods has a permanent CFO.
The retailer on Monday appointed Lee J. Belitsky as executive VP, CFO, effective immediately.
Belitsky assumes the responsibilities from André Hawaux, Dick’s executive VP, COO, who has served as the financial officer on an interim basis since August 2016. Hawaux will continue to serve as COO.
Belitsky joined Dick’s as VP, controller in 1997 and was appointed treasurer in 2005. Since that time, he has held a number of leadership positions, including senior VP distribution/transportation; and senior VP, store operations and distribution/transportation.
Most recently, Belitsky served as executive VP, product development and merchandise planning, allocation and replenishment.
Prior to Dick’s, Belitsky served as CFO for Domain.
Dick’s also announced Joseph R. Oliver, who has served as senior VP, chief accounting officer, will now serve as the company's senior VP, merchandise planning, allocation and replenishment, reporting to Belitsky.
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Teen apparel retailer ousts longtime CEO; taps Target exec as head merchant
Rue 21 announced a series of leadership changes as it looks to reinvigorate its brand.
In a surprise announcement on Saturday, the retailer said it had appointed CFO Keith McDonough as interim CEO, succeeding Bob Fisch, who has served as president and chief executive of Rue 21 since 2001.
No reason was given for Fisch’s ouster. But the company, which is private and operates 1,213 stores nationwide, has been criticized for being slow to respond to the online juggernaut and also not adapting quick enough to changing fashion trends among its core teen demographic. Rue 21 was named in a recent Fitch Ratings report as being one of seven retail chains at risk of defaulting within a year.
In other changes, Rue 21 ousted general merchandise manager Kim Reynolds, and appointed Nina Barjesteh as chief merchandising officer. Barjesteh, a 20 year retail and fashion industry veteran, joins Rue 21 from Target, where she served as the VP, general merchandise manager of the women's apparel division.
The company also announced a new position, chief customer officer, to be filled by Elizabeth Hodges, who spent the last nine years at Chico’s FAS, most recently as senior VP of customer experience. Hodges previously held leadership positions with J.C. Penney, American Eagle and Lane Bryant.
"We thank Bob Fisch and Kim Reynolds for their 15 years of collaboration and passion in building rue21 into a leading teen specialty apparel retailer,” said interim CEO McDonough. “We are very excited to have Nina Barjesteh and Liz Hodges join the rue21 leadership team. They both will play key roles as we further position our business for long-term growth."
Rue21 said it plans to open approximately 40 new stores and upgrade 100 existing stores in fiscal 2016, and launch several customer-focused initiatives, including a such as ship-to-store program. It also said e-commerce sales grew 90% in the first six months of the current fiscal year.
"We continue to execute on the strategic initiatives we set out for 2016 and the longer-term, including strengthening our brand, our merchandise assortments and our omnichannel capabilities, in addition to increasing our square footage,” McDonough said.
This is certainly a long time coming. The leadership in this company has not been the best... the board made the right decisions.