Target's board, seeking a new CEO after pushing out Gregg Steinhafel yesterday, is under pressure to do something it's never done before: hire a leader from outside the company. Target is working with recruitment firm Korn Ferry, signaling that it's not focusing on internal candidates, said Carol Spieckerman, a retail consultant. The company also has increasingly looked outside for other executive roles, including its latest chief information officer and chief marketing officer. Potential candidates for the top job include HSN Inc. CEO Mindy Grossman, Bon-Ton Stores chief Brendan Hoffman, Gap head Glenn Murphy and Victoria's Secret CEO Sharen Turney.
/PRNewswire/ -- Alliance Data Systems Corporation (NYSE: ADS), a leading provider of loyalty and marketing solutions derived from transaction-rich data, today announced its Retail Services business has agreed to acquire the private label credit card portfolio of The Bon-Ton Stores, Inc. (NASDAQ: BONT). As previously announced, Alliance Data will also manage the retailer's private label credit card program. The Bon-Ton Stores, Inc. operates 272 stores in 23 states across the Northeast, Midwest, and upper Great Plains, under the nameplates of: Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman, Herberger's, Younkers, and Parisian (in the Detroit area). A broad assortment of national-
Bon-Ton Stores said its Chief Executive Bud Bergren will move on to become the chairman of the board, and the company named Brendan Hoffman as its new top executive. Hoffman joins the department store operator after a stint at Lord & Taylor LLC, which was acquired by Hudson's Bay Co.
New York City -- Lord & Taylor will unveil a new concept called Lord & Taylor Home on Friday, at Fashion Center shopping center in Paramus, N.J. A second location, in Shrewsbury, N.J., is expected to open in several weeks. Lord & Taylor is owned by NRDC Equity Partners, which also owns Canada’s Hudson Bay Co. The 23,000-sq-ft.freestanding store will carry a wide range of home goods, and sell an array of brands, according to The Record. It also will offer exclusive U.S. distribution of the Gluckstein Home brand, created by interior designer Brian Gluckstein for Hudson’s Home
New York City -- A Thursday report by Crain’s New York Business said that Lord & Taylor has signed a two-year contract with Green Mountain Energy Co. to provide the department store retailer with 100% of its electricity needs at two stores, including the Fifth Ave. flagship location. The move has garnered the attention of the Environmental Protection Agency, which places Lord & Taylor, effective August, as No. 17 on the its Green Power Partnership list of Top 20 retailers embracing clean energy. The Green Mountain contract will provide 13 million kilowatt hours of wind-generated power annually. "We're very