OPERATIONS

Stein Mart names former Neiman Marcus CEO to board

BY Dan Berthiaume

Jacksonville, Fla. – Stein Mart, Inc. has named Burton M. Tansky to the company’s board of directors. Tansky was with The Neiman Marcus Group for 23 years, retiring as president and CEO in 2010.

Before being named as CEO of The Neiman Marcus Group in 2001, Tansky was president and CEO of Neiman Marcus Stores. Prior to this, he served as CEO of Bergdorf Goodman, a division of The Neiman Marcus Group, and president of Saks Fifth Avenue. Tansky currently serves as Senior Advisor of Marvin Traub Associates. He also serves on the board of directors of Donald Pliner Shoes and of The Howard Hughes Corporation.

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OPERATIONS

Survey: One-in-four retail employees plan to change jobs in 2014

BY Dan Berthiaume

Chicago — Twenty-four percent of full-time retail employees plan to change jobs in 2014, three points above the average for all workers (21%) and up from 20% in 2013. According to a new survey from Harris Interactive, CareerBuilder and WorkInRetail.com, 51% of retail workers are satisfied with their jobs, down from 60% in 2013.

In addition, 22% are dissatisfied, up from 17% in 2013. For the three-out-of-four (76%) retail workers who have no intention of leaving their current job in 2014, a variety of factors weigh into their decision, with relationships with co-workers (59%), work/life balance (49%) and benefits (43%) topping the list.

“When workers are confident they can find a better job elsewhere, it’s a sign the labor market is improving,” said Rob Morris, director of WorkInRetail.com. “As a result, employers must double-down on efforts to retain top talent. Managers should listen carefully to employee feedback, implement incentive rewards, and consistently recognize strong performance. Reducing turnover builds cohesive teams that lead to positive customer service results and higher sales.”

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News

Hudson’s Bay CFO takes leave of absence

BY CSA STAFF

Hudson’s Bay Company’s CFO Michael Culhane is reportedly taking a leave of absence from the company. Assuming the CFO role will be Donald Watros, who on Feb. 1 will be stepping into his new role as president of the company.

HBC did not provide further details on Culhane or the CFO spot.

Culhane has been CFO of Hudson’s Bay Company since Feb. 2009. He is responsible for financial planning, profit improvement, accounting, treasury, income taxes, audit, legal and credit/loyalty marketing. He also served as CFO and EVP of Lord & Taylor from 2004 to 2009 and held other executive financial positions with the May Department Stores Company from 1997 to 2004.

The company has been restructuring its leadership so it can focus on managing and growing HBC’s presence in North America, as well as its expanding portfolio of brands.

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