– FISHERS SELL SHARES: Donald G. Fisher, founder and chairman emeritus of Gap Inc., and his wife Doris, a director at the company, sold off 13.9 million shares of the retailer over the last year, leaving them with 51.8 million shares, or a 7.1 percent stake in the firm, as of Monday.
This story first appeared in the February 13, 2008 issue of WWD. Subscribe Today.
– DFS APPOINTMENT: DFS Group Ltd. named Michael Schriver as president, worldwide store operations, overseeing the daily operations of all DFS retail locations around the world. Schriver succeeds Mark Daley, who joined Dean & Deluca after 22 years with DFS. Schriver also continues as president, merchandising until a successor for that role is named. DFS has commenced a search and expects to fill the position in the first half of 2008. Schriver joined DFS in 1998 and earlier spent 20 years at Macy’s. He will be relocating to Hong Kong later this year.
– AMAZON FIGHTS TAX PROPOSAL: Gov. Eliot Spitzer’s budget proposal to tax e-commerce sales in New York state would be a “unique burden to New York state consumers,” according to Paul Misener, Amazon.com’s vice president for global public policy. Misener, in Albany Tuesday to protest the increased tax on online sales tax, noted that Michigan and California have proposed and rejected the same measure, and, in some instances, it has been declared unconstitutional. “We’re not in the state, and federal law prohibits out-of-state vendors from being required to collect this kind of sales tax,” said Misener. “This is not the only way to get at remote taxation, if that is a major interest.” Misener said he thinks it’s very unlikely the proposal will pass the state legislature.