September 1, 2008,
Kohl's Mansell Elevated to CEO
Kohl's promoted president Kevin Mansell to president and ceo, succeeding Larry Montgomery in the ceo role; Montgomery will continue as chairman and will continue to manage Kohl's human resources, legal and real estate departments. Mansell, a 26-year veteran of the 957-store retailer, has served as president since 1999. He joined in 1982 as a dmm and was promoted to gmm in 1987; after gaining broader planning and operational experience he was elevated to evp of merchandising and marketing in 1998.
Family Dollar Promotes McCaffety
Sears Taps Reed for Services Unit
Sears Holdings has hired Stu Reed as svp and president of Home Services, which provides consumer home appliance installation, remodeling and related services.
Reed was most recently with Motorola where he was evp and president of the Mobile Devices unit. He joined that company after more than 20 years with IBM. "As part of our new operating model and in an effort to continue to leverage those businesses that separate us from our competition, we're very pleased to be able to add a leader with Stu's experience and strong operational background to our executive team," said Bruce Johnson, interim ceo and president of Sears Holdings.
Hard Home Rebounds at Gottschalks
Housewares took center stage in Gottschalks' refocused home business, but textiles took a back seat in sales during the chain's second quarter. "Our assortments in the housewares area have re-energized that portion of the home store's business, even during this difficult environment," said Jim Famalette, chairman and ceo. "With that said, textiles, tabletop, luggage and other hard-good areas remained challenging." The 61-store retailer posted a Q2 net loss of $4.4 million or 33 cents per diluted share, narrower than the net loss of $4.8 million or $0.35 EPS one year ago. Sales of $133.7 million were down 7.8%, while comps fell 7.3%.