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  • INDUSTRY NEWS

    • On April 23, 2015, it was reported, Evine Live (formerly known as ShopHQ) has appointed Penny Burnett senior vice president and chief merchandising officer. In her new role, Burnett oversees the Evine merchandising organization and reports directly to Mark Bozek, the company's CEO. The chief merchandising officer position had been vacant since last August, when Annette Repasch left the company. Burnett has more than 20 years experience in merchandising. Prior to joining Evine, she served as vice president of merchandising for the Global Brands Group, a part of the Fung Group, managing the merchandising strategy for new acquisitions and overseeing merchandising for the kids' and young men's businesses. Before that, she was vice president of sales and merchandising for Guggenheim Partners, and held merchandising roles at both Macy's and Target.
    • On April 22, 2015, The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide, announced that Bernard (Ben) Cammarata has decided to retire as Chairman of the Board of The TJX Companies, after nearly 40 years of service to the Company. His retirement will be effective on the date of the Company's next annual meeting of stockholders, June 11, 2015. After his retirement from the Board, Mr. Cammarata will remain with the Company in an advisory role as Founder and Executive Advisor. The Board intends to elect Carol Meyrowitz, Chief Executive Officer of TJX since 2007 and a Director of the Board since 2006, to the additional position of Chairman of the Board immediately following Mr. Cammarata's retirement at the annual meeting.
    • On April 22, 2015, it was reported, W. Bruce Johnson, president and CEO of Sears Hometown and Outlet Stores, will leave his post on Aug. 1, by mutual agreement with the retailer's board of directors. A company statement said the board has begun a search for a new CEO, having retained Heidrick & Struggles, an executive search firm, to identify both internal and external candidates. Johnson had served as Sears Hometown and Outlet's chief since July 2012 and remained in that position after the retailer separated from Sears Holdings the following October. Prior to that, he served in several top management positions with Sears Holdings, including interim CEO from February 2008 to February 2011 and executive vice president from February 2011 to July 2012.
    • On April 21, 2015, it was reported, Simply Fashion Stores Ltd. has filed for Chapter 11 bankruptcy protection, and announced plans to liquidate nearly all of its assets. In its filing, it noted that the "exact plan" for the future of the company is still being refined. The Birmingham, Alabama-based urban fashion retailer, which caters mostly to African-American women, operates some 250 stores in 25 states. Simply Fashion credited declining sales as one of the primary factors behind its filing. Other factors included the lingering effects of the recession. The company filed bankruptcy along with its general partner, Adinath Corp. The filing listed more than $24.7 million in debts From 2012 to 2014, Simply Fashion shuttered about 120 unprofitable stores. Last year, it lost $9 million on $65 million in revenue. Liquidators at Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC have struck an agreement to serve as the lead bidder at a bankruptcy auction, pending a judge's approval.