San Francisco — The Gymboree Corporation has successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name Gymboree Group, Inc., which has eliminated more than $900 million of debt from its balance sheet and is right-sizing its store footprint.
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San Francisco — The Gymboree Corporation, following a comprehensive evaluation of its retail footprint, intends to close approximately 350 stores, mainly across the Gymboree and Crazy 8 brands. With the right size store base, the company will be able to focus resources on locations with the greatest potential and improve profitability.
San Francisco — The Gymboree Corporation has appointed Daniel Griesemer as the company’s new president and chief executive officer, effective May 22, 2017. Griesemer joins Gymboree after a 5-year tenure leading Tilly’s, an action sports-inspired teen and young adult apparel retailer where he served as president and CEO.
Los Angeles — The Coffee Bean & Tea Leaf® has appointed Jeff Harris as chief financial officer. A veteran finance executive with nearly 30 years of experience, Harris will oversee all financial functions of the company, as well as the supply chain, human resource, risk management and legal teams. He will report directly to President and CEO John Fuller.
Hoffman Estates, Ill. — Sears Holdings has hired former Gymboree COO Joelle Maher as president and chief member officer for the Sears format. In this role, Maher will be responsible for developing the Shop Your Way® member-centric business strategy for the Sears format, managing the Sears P&L and aligning merchandising, marketing, pricing and selling with the needs of its members.