CFO SPLITS KMART: Thomas F. Murasky, 50, has resigned as executive vice president and chief financial officer of Kmart Corp. "to pursue other career interests," the company said Monday. Kmart said it has...
CFO SPLITS KMART: Thomas F. Murasky, 50, has resigned as executive vice president and chief financial officer of Kmart Corp. "to pursue other career interests," the company said Monday. Kmart said it has launched a search to fill the position. Marvin P. Rich, executive vice president of strategic planning, finance and administration, will serve as chief financial officer on an interim basis. Murasky, who reported to Rich, has been with the company for 22 years. His resignation is effective Sept. 30. He was named chief financial officer in 1986. Separately, Kmart and Malan Realty Investors Inc. agreed to terms on the termination of leases for five closed Kmart stores with a total of 215,000 square feet. The leases would have expired between 2000 and 2002.
WIDE AWAKE IN SEATTLE: Fred Meyer Inc., the leading supercenter operator in the Pacific Northwest, will open four new stores and remodel three others as part of a $170 million capital commitment to the Puget Sound area of Washington in 1995-96. Two of the stores, a 174,000-square-foot unit in Renton and a 124,000-square-foot store in Lake City, open today. "We are investing for the long haul to maintain our position as the dominant retailer," Robert G. Miller, chairman and ceo, said in a statement Monday. Earlier, the 133-store general merchandise chain reported a 44.4 percent decline in second-quarter profits to $10.7 million, or 38 cents a share. Sales gained 5.2 percent to $775.8 million. "Apparel continues to be a tough area for us," Miller said in a telephone conference call. "We really are narrowing our focus to more casual looks and more branded basics."
RECRUITING DRIVE: Tapping into the department store ranks once again, Bradlees Inc. has named Susan Swanger as vice president, store design and visual presentation, a new post. Swanger was visual merchant liaison for men's and children's wear at the Rich's/Lazarus/Goldsmiths division of Federated Department Stores. At Bradlees, she is responsible for softlines and hardlines presentations, point-of-sale signage and packaging, store presentation and store design. She reports to George Bruce, senior vice president, marketing, store design and visual presentation.STOCK ACTION: Shares of Caldor Corp. bounced back a bit on Tuesday, closing at 5 5/8, up 1/2, on the New York Stock Exchange. Caldor's shares have lost about 70 percent of their value since June 30 amid concern about possible financing troubles. Caldor operates 166 discount stores in the Northeast.
The annual Veuve Clicquot Polo Classic in Pacific Palisades this weekend drew Kate Hudson, Tracee Ellis Ross, Laura Dern and more. See pictures of the star-studded event on WWD.com. (📷: @chelsealaurenla) #wwdeye
In his new book “Hollywood Royale,” Andy Warhol’s Protégé Matthew Rolston celebrates the Eighties revival of Hollywood glamour. Featuring more than 100 portraits taken by Rolston from 1977 to 1993, the book contains photos of icons like Michael Jackson, Cyndi Lauper, and @drewbarrymore, pictured here in 1991. “Hollywood Royale,” out today, will be accompanied by an exhibition opening at Los Angeles’ Fahey/Klein Gallery on March 1. #wwdeye
"Nowadays when life is not so happy with everything going on in the world, I think people come to me for a little bit of whimsy and color and fun." - Designer Rebecca De Ravenel on her cult-favorite jewelry line. (📸 : @vsteves) #wwd40
“Everyone is talking about how the retail industry is struggling, but I think it’s an incredible time because brands who are doing something different and innovative are setting themselves up for the future,” said @adamgoldston, who founded the luxury athletic brand @apl with his brother @ryangoldsten. The Goldston’s are part of WWD’s 40 under 40: a group of industry notables. See the rest of the list on WWD.com. (📷: @vsteves) #wwd40
@eyeswoon blogger Athena Calderone debuted her first-ever cookbook, “Cook Beautiful,” which is heavily centered on the presentation and visual expression of food. Pictured here are her miso glazed carrots from the book. Get the recipe on WWD.com. (📷: @johnny_miller_) #wwdeye
“It’s passion that helps get anybody to a certain point and it’s what’s propelled me,” said Kith founder @ronniefieg, one of WWD’s 40 under 40: a group of industry notables who are changing the face of retail, fashion and beauty. Fieg, who opened a Manhattan flagship on October 7, began his career at age 13 as a stock boy and salesman for footwear chain David Z. “I think staying true to [my] beliefs, hard work and passion have gotten me to where [Kith] is today.” See the rest of the 40 at WWD.com. (📷: @vsteves) #wwd40
25-year-old @samweaving is about to break out this fall, starring in Netflix’s horror film “The Babysitter,” fittingly out today on Friday the 13th. That’s not the only place you’ll be seeing her, though — Weaving’s got a role Showtime’s “SMILF” and another alongside Frances McDormand and Woody Harrelson in “Three Billboards Outside Ebbing, Missouri.” Though she’s got a full plate at the moment, there’s one role she’s got her eye on: Marilyn Monroe. “I’m a little too young at the moment, but it’s on my bucket list,” the actress told WWD (📷: @dandoperalski) #wwdeye
BFF's Poppy Jamie and Suki Waterhouse celebrated the launch of their bag line Pop x Suki at Nordstrom last night. "The line is really about our friendship, and how we are so different but complement each other," said Waterhouse. 👯 (📷: Katie Jones) #wwdeye
After designing the new @louisvuitton and @bulgariofficial flagships and a @chanelofficial boutique opening in Japan, @petermarinoarchitect has another project on his plate: The Lobster Club. Located in the Seagram Building, it’s the famed architect’s first restaurant project in New York, serving up modern Japanese brasserie-style cuisine. Bronze hues, bespoke material detailing, blush and chartreuse tones and a heavy emphasis on Picasso can be seen throughout. Mark your calendars for Nov. 1 for the much-anticipated opening. (📷: @clint_spaulding) #wwdeye