Plano, Texas — J. C. Penney Company, Inc. has named Bill Wafford, a highly accomplished retail executive with over 25 years of broad finance experience, as executive vice president, chief financial officer, effective April 8. He joins JCPenney from The Vitamin Shoppe. Reporting to CEO Jill Soltau, Wafford will be responsible for providing strategic leadership and driving operational excellence in addition to leading all aspects of the company’s finance and accounting operations. He succeeds Michael Fung, interim chief financial officer, who will remain with the company through the end of …
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Chicago and New York and Tel Aviv — McDonald’s Corporation has reached an agreement to acquire Dynamic Yield Ltd., a leader in personalization and decision logic technology. With this acquisition of Dynamic Yield, based in New York and Tel Aviv, McDonald’s builds on its significant technology investments for growth. McDonald’s will utilize this decision technology to provide an even more personalized customer experience by varying outdoor digital drive-thru menu displays to show food based on time of day, weather, current restaurant traffic and trending menu items. The decision technology can also …
Red Wing, Minn. — Red Wing Shoe Company, a global leader in the footwear industry for more than 110 years, has opened a flagship retail store in New York City. The company’s first permanent presence in Manhattan, open now, includes a tribute to the workers who helped build the city. Located at 11 Penn Plaza in the heart of Midtown, the 3,300-square-foot store celebrates the company’s rich heritage and tradition of quality craftsmanship. In addition to selling Red Wing’s famed purpose-built work boots and stylish Heritage collection, the store also …
Franklin, Tenn. — CKE Restaurants Holdings Inc., parent company of Carl’s Jr.® and Hardee’s® restaurants, has named Darla Morse as its new chief information officer. She joins CKE from Inspire Brands. In her most recent position, as chief information officer of Inspire Brands, Morse led initiatives to enhance the restaurant experience and drive operational efficiencies for the multi-brand restaurant company whose portfolio includes more than 8,300 Arby’s, Buffalo Wild Wings, Rusty Taco and Sonic Drive-In locations worldwide. She was previously CIO of Arby’s, served as CIO of SeaWorld and spent …
Plano, Texas — At Home Group Inc., the home décor superstore, continues its expansion to the West Coast, opening its first of five California stores in Orange County’s Foothill Ranch. At Home plans to open four additional Southern California stores in San Diego and Los Angeles later this year. “We are thrilled to bring our home décor superstore concept to California and to open the first of many future stores in the state,” says Lee Bird, chairman and chief executive officer of At Home. “This is an important benchmark in …
Boca Raton, Fla. — I Heart Mac & Cheese, a fast-casual concept specializing in customizable, made-to-order macaroni and cheese bowls, grilled cheese sandwiches and specialty salads, has signed an agreement with franchise group G5 Services, LLC, to open a new location in Augusta, Ga. Slated to start construction later this year, the Augusta location will be owned and operated by Kimberly and Brian Grotz, opening in winter 2019. G5 Services, LLC is led by husband-and-wife duo and first-time entrepreneurs, Kimberly and Brian Grotz. “We are so thrilled to have Kim …
Conshohocken, Pa. — IKEA U.S.’s first city center location in the country — the IKEA Planning Studio — will open on April 15, 2019 in Manhattan. Located at 999 Third Ave. in New York City, the new IKEA touchpoint will focus on providing inspiration and smart solutions for city living and small spaces. “We conducted extensive research about city living, and we believe New Yorkers will see their needs reflected this new concept,” says Leontyne Green Sykes, chief operating officer, IKEA Retail U.S. “We hope the Planning Studio will serve …
Greenwood Village, Colo. — Red Robin Gourmet Burgers, Inc., a full-service restaurant chain, has retained The Cypress Group, a leading restaurant and franchise investment banking firm, to manage Red Robin’s refranchising initiative. Cypress has more than 25 years of multi-unit M&A and corporate refranchising experience in the restaurant industry, including engagements with a number of major casual dining brands. “Strategically refining our real estate portfolio and pursuing development opportunities with high-quality franchisees is a key component of future growth for Red Robin. We are excited to partner with The Cypress …
Nashville, Tenn. — LifeWay, a Christian bookseller based in Nashville, Tenn., plans to close all 170 of its physical bookstores. The bulk of the company’s stores are in the Southeastern United States, with a large concentration of locations in Texas and Ohio. A full list can be found here. LifeWay expects to close all of its physical locations by the end of the year, and the timing of store closings will vary depending on local circumstances. In January, the company announced it would reduce the number of its retail locations …
Chicago — SMS Assist has hired Graham Blackwell as chief strategy and revenue officer. A deeply experienced operating executive, Blackwell will lead SMS Assist’s strategy, pricing, marketing and sales organizations and help the company continue to innovate and evolve its strategy as it rapidly grows. Blackwell, most recently an executive vice president with Bain Capital’s North American private equity team, has spent nearly two decades building businesses through the sharpening of strategy and execution. His experiences have been particularly focused on the technology, retail and business services industries. “SMS Assist …