Retail Roundup: Casual Male's Poison Pill, New Execs Shake Up Sears, More

Casual Male puts poison pill in place — Casual Male Retail Group announced on Dec. 9 that its board of directors has adopted a rights plan, also known as a “poison pill.” Poison pill is a term applied to a strategy companies use to thwart hostile takeovers, according to a BNET briefing. The plan the company announced is set to kick in “if an entity becomes, or launches a tender offer to become, the beneficial owner of 15 percent of more of the company’s outstanding common stock.” Company stock has been reduced from $8 per share to 58 cents per share in the last year. “[The rights plan] was instituted to protect shareholders’ interests so they would receive fair-market value for their ownership,” said Jeff Unger, vice president of Casual Male’s board of directors. [Source: boston.com]

New execs shake up Sears — Sears Holding Corp. has chosen Nick Coe to head Land’s End as the retailer’s new president. He will also serve as senior vice president of parent company Sears Holding. With 25 years of experience in retail merchandising, Coe has a lengthy retail history that includes work as the head of design for Banana Republic and a 19-year tenure at Levi Strauss & Co. Other new appointments sure to shake up Sears include: Scott Friedman, executive vice president, and Mark deBruin, senior vice president. [Source: internetretailer]

Retailers continue to bank on Obama mania — Although the heated presidential election is over, desperate retailers are still eager to use what’s left of the campaign buzz to turn a profit. Jeweler Ann Hand began selling accessories bearing the president elect’s last name on Dec. 9; among her new merchandise: $175 sunglasses featuring the word “Obama” scripted in crystals and $45 silver dog-tags that say “First Pooch.” Hand is also introducing a 10-item line inspired by the incoming president — the first time she’s ever done so. Also feeding into the trend is Vogue Editor At Large Andre Leon Talley, who has recently taken to wearing a black knit cap bearing the name “Obama.” Allen Adamson, managing director of branding firm Landor Associates said the politician’s name has become somewhat of a trend: “If I put his name on me, it says, ‘I’m cool,’” Adamson says. [Source: Heard on the Runway]

Retailers forced to cut back on ad spending over holidays — Responding to the downturn, retailers are spending less on advertising this season. Of the 100 chief marketing officers surveyed by BDO Seidman, 32 report having a smaller holiday budget than they had in 2007, 43 percent of retailers said their budgets are flat, and 25 percent said their budget would increase. The study also found that most retailers — 57 percent — were focusing on old-fashioned print advertising instead of more modern channels. [Source: Advertising Age]