Women's Wear Daily

Macy’s Names Paula Price Chief Financial Officer

Macy’s Inc. named Paula A. Price chief financial officer, succeeding Macy’s veteran Karen Hoguet, who is retiring. Price, who starts the job July 9, will be responsible for finance, accounting, investor relations and internal audit functions. She will report to Jeff Gennette, chairman and chief executive officer, and will be based in New York. Paula Price  Hoguet, while relinquishing the cfo role in July, will remain with Macy’s in an advisory role during a transition period until Feb. 2, 2019, when her retirement becomes effective. Gennette said Price has “an impressive breadth and depth of retail experience…having led finance in a variety of complex and dynamic retail organizations.” He added that Hoguet “is truly one of the great leaders in retail.” Price has 30 years of finance experience primarily in retail and consumer-facing businesses. Since 2014 she has been a full-time senior lecturer in the accounting and management unit at Harvard Business School. Prior to Harvard, Price was executive vice president and chief financial officer of Ahold USA. Before Ahold, she served as senior vice president, controller and chief accounting officer of CVS Caremark Corp., where she was instrumental in the CVS/Caremark merger. Earlier in her career she held finance and strategy positions at various

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Target Reports Strong Quarter

Target Corp., seeing robust traffic in its stores and online, reported a 5.9 percent increase in net earnings in the first quarter to $718 million from $678 million in the year-ago period. Sales rose 3.5 percent in the quarter ended May 5 to $16.56 billion from $15.99 billion in the year ago period. Comparable sales grew 3 percent. Digital sales rose 28 percent. First quarter  traffic  rose 3.7 percent, the most in 10 years, the company said. ”We’re very pleased that our business continued to generate strong traffic and sales growth in the first quarter as we made significant progress in support of our long-term initiatives,” said Brian Cornell, chairman and chief executive officer.      

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