OPERATIONS

Tiffany names exec VP overseeing global retail ops

BY Marianne Wilson

New York — Tiffany & Co. announced that it has named Jill Beraud as an executive VP, effective Oct. 13. She will have responsibility for global retail operations including all sales channels in every region, as well as oversight of strategic store development and real estate.

Beraud will report to Frederic Cumenal, president, who, as previously announced, will become Tiffany’s CEO effective April 1, 2015.

Beraud, 54, joins Tiffany from Living Proof where she has been CEO since 2011.

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OPERATIONS

Genesco extends EarthLink partnership

BY Dan Berthiaume

Nashville, Tenn. – Genesco Inc. recently extended its relationship with EarthLink, with future plans to use the network in new ways to enhance the customer shopping experience. A longtime EarthLink customer, Genesco relies on a private EarthLink MPLS network to run all in-store point-of-sale, inventory management and employee communications and training in its Johnston & Murphy, Journeys, Journeys Kidz, Underground by Journeys and Shï by Journeys stores.

To enrich the in-store shopping experience for its consumers, Genesco plans future applications to connect with shoppers via mobile, gather better data on in-store activity, and shift “one to many” advertising to “one to one” targeted offers. The retailer also plans to run people counter analytics over its optimized EarthLink network to help deliver better customer service.

Genesco is also a major participant in EarthLink’s Operation Cash Register program, now in its sixth year, which allocates additional resources to retailers during peak holiday shopping periods and back-to-school in the fall, providing smooth operational performance and priority issue resolution.

“As brick-and-mortar and online shopping experiences evolve, we will continue to innovate and invest in new technology solutions,” said Rik Reitmaier, VP technology for Genesco. “Genesco enjoys a trusted relationship with EarthLink and relies on its retail expertise in handling our day-to-day secure network management, which frees my staff to focus its talents on developing strategic applications that drive marketing and operations initiatives to help move the sales meter for our brands.”

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FINANCE

Nordstrom authorizes $1 billion share repurchase program

BY Dan Berthiaume

Seattle – The board of directors of Nordstrom Inc. has authorized a repurchase program of up to $1 billion of the company’s outstanding common stock, through March 1, 2016. Nordstrom intends to fund the repurchase program from existing cash on hand.

The actual number and timing of share repurchases, if any, will be subject to market conditions and applicable Securities and Exchange Commission rules. This program is in addition to Nordstrom’s existing repurchase program that was approved by the board in February 2013. The existing repurchase program has $323 million outstanding as of Sept. 3, 2014, and will expire on March 1, 2015.

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