Retail Roundup: Steve & Barry's Names CEO, Mervyns Shuts Doors, and More

Steve & Barry’s announces new CEO – Steve & Barry’s, the young department-store chain that recently announced plans to close 103 of its 276 locations, welcomed Harold Kahn on board as the company’s new CEO. Kahn’s lengthy resume charts his ample retail experience, including a decade-long stint as CEO of Macy’s East. “I am thrilled about the opportunity to help lead Steve & Barry’s, a retailer I believe offers a value proposition that’s second to none in the marketplace,” Kahn said. “I’ve been watching the company closely since it began launching amazing celebrity collections with Sarah Jessica Parker, Venus Williams, Amanda Bynes, Laird Hamilton, and others.” [Source: MarketWatch]

Mervyns to liquidate inventory – Mervyns, the latest victim of a down economy, announced on Oct. 17 that it is filing for Chapter 7 bankruptcy protection. The chain had filed for Chapter 11 over the summer and was working on reorganizing its finances through the case. The retailer plans to hold going-out-of business sales over the holidays in its remaining stores. [Source: CBS 5 and The Mercury News]

Old Navy to launch new campaign, return to roots – Old Navy, the largest retail chain under the Gap Inc. umbrella, is looking to retool  its marketing strategy and redirect its focus in the wake of a scary 24 percent decline. President Tom Wyatt said the company will return to its core shopper, the 29-year-old young mother looking for basics – not flashy logos or cutting-edge styles. “We’ve gone into massive disconnect” with our target shopper, Wyatt said. “Now we have an understanding of who we serve.” [Source: MarketWatch]

Container Store finds success with new online service — Ready to take its e-commerce strategy to a new level, the Container Store Inc. recently implemented a GoShop! Click & Pickup service that allows customers to order products online for in-store pickup. After customers enter their ZIP codes into the pickup option, the program checks each product’s availability in the selected store. When the chain began a test run of the service in the Dallas/Fort Worth area, officials found customers who placed orders online for store pickup spent twice as much as those who placed orders for home delivery and three times as much as shoppers in stores. [Source: internetretailer.com]