OPERATIONS

Urban Outfitters CFO stepping down

BY Staff Writer

Philadelphia — Urban Outfitters said Wednesday that CFO Eric Artz is leaving the company, and will be replaced by current chief accounting officer Frank Conforti, effective April 3.

No reason has been given for Artz’s departure, other than he plans to return to the west coast.

Urban Outfitters operates under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands.

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McDonald’s chief to retire June 30

BY Katherine Boccaccio

Oak Brook, Ill. — McDonald’s Corp. announced Wednesday that vice chairman and CEO Jim Skinner will retire on June 30.

Skinner will be succeeded by current president and COO Dan Thompson, 48, effective July 1.

Skinner, 67, has worked for the chain for 41 years and has served as CEO since late 2004. “Doing what’s right for our customers and our business has driven my passion as CEO of McDonald’s,” he said in a statement. “I’m honored to have served and earned the trust of the board, our shareholders, franchisees, suppliers and the men and women of this great company.

Credited with a turnaround of the world’s largest hamburger chain, Skinner took the helm following the deaths of his two immediate predecessors, Charlie Bell and Jim Cantalupo. At that time, McDonald’s was just beginning to execute its Plan to Win, a program now described as the catalyst for reversing a negative sales trend.

Thompson became president and COO of McDonald’s in January 2010. Previously, he served as president of McDonald’s USA from 2006 until 2010.

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Survey: Nearly half of adults only buy clothing when on sale

BY Katherine Boccaccio

Whiting, Ind. — Survey results released Wednesday by CouponCabin.com found that 41% of U.S. adults who purchase apparel say that they only buy clothing when it’s on sale.

Nearly one-quarter (23%) of U.S. adults said their shopping strategy involves doing whatever they can to save money.

The Spring Shopping Survey, conducted online by Harris Interactive, contained the following highlights:

When asked how they usually shop for clothing for themselves or others in their households, 46% said they visit a store, find the item and buy it in the store; 10% said they search out a deal or coupon first that would determine what item would be purchased; 7% said they find the desired item first, then look for a deal or coupon before buying; and 10% said they go online, find what they want and buy it online.

Sometimes preferred shopping routines include only shopping at the same stores, found the survey. Forty-five percent of U.S. adults who do any clothes shopping said they are loyal to particular clothing stores, with 18% saying they are loyal to one or two stores in particular. On the flip side, 33% said they shop wherever they can find the best deals.

When asked how much money they typically spend on clothing for themselves and/or anyone else in their household per month, those U.S. adults who do clothes shopping said the following:

  • $1 – $50: 60
  • $51 – $100: 21%
  • $101 or more: 20%

“Regardless of clothes shopping budgets, savvy shoppers are employing a variety of tactics to help lessen the bruising on their bank accounts,” said Jackie Warrick, president and chief savings officer at CouponCabin.com.

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