David’s Bridal CEO steps down; replaced by former Gap head
Photo: Paul Pressler
The CEO of David's Bridal is out after three years on the job.
The specialty retailer said Pam Wallack has left the company, but gave no reason for her departure, the Associated Press reported. Wallack will be replaced by David’s Bridal chairman and former Gap Inc. head Paul Pressler, who once worked with her at Gap.
Pressler is a partner at Clayton, Dubilier & Rice, which acquired David's Bridal from Leonard Green & Partners in 2012. He served as president and CEO of Gap Inc. from 2002 to 2007. Prior to that, he spent 15 years with The Walt Disney Company, including serving as chairman of the company’s global theme park and resorts division. He also served as president of The Disney Stores.
Wallack joined David's Bridal in 2013 from Gap, where she held senior positions since 2005. In 2011, she was tapped to establish and lead the Gap Global Creative Center, responsible for global design, marketing and production and accountable for $6 billion in annual sales. Prior to Gap, Wallack spent seven years at Toys "R" Us. She also spent time at other retail brands including Coach, The Disney Store and Laura Ashley.
Pressler brings an "extensive background in retail and a deep understanding of the brand, our customers and what it will take to continue to make David's Bridal the ultimate destination for brides," the company said in a statement.
David’s Bridal operates more than 300 stores in 45 states.
Inland sells Mariano’s location in Chicagoland
Inland Private Capital Corp. announced the sale of a Mariano’s Fresh Market in Vernon Hills, Illinois, on behalf of one of its 1,000-plus investment programs. Sale price for the seven-acre property and 71,248-sq.-ft. store was $36.4 million.
Mariano’s, a Kroger banner, is Chicagoland’s up-and-coming fresh grocer with some 35 locations in the area. Roundy’s had owned the chain and held the lease at the Vernon Hills location until it was acquired by Kroger last November.
“The sale of the Vernon Hills location was our second Mariano’s disposition this year, both of which resulted in a substantial return for our investors,” said Keith Lampi, president and COO of Inland Private Capital, which has been buying up Mariano’s locations since 2011.
“As early adopters of what has been the fastest-growing grocery brand in the Chicagoland area, our investors are now reaping the benefits through monetization,” Lampi said.
Abercrombie & Fitch has changed. But do consumers realize it?
From new store prototypes to merchandise changes, Abercrombie & Fitch has been investing in efforts to transform and update its namesake and Hollister brands.
Unfortunately, getting consumers to change their ideas regarding the brands is not proving all that easy, according to Columbus Business First.
“We’ve moved on. I don’t think the world has,” said executive chairman Arthur Martinez with regards to consumer perceptions of the company’s brands, particularly Abercrombie.
This fall, the company will launch an advertising campaign to establish its new brand positioning and rev up its efforts on social media and in other channels, the report said.
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