It is so interesting how, after all the heaps and heaps of negative reporting about shopping during the holiday season, that all the retail data this month, including two datapoints out today, have been in the black. It is just a media trope year after year in November and December that retailers are in trouble. While there are winners and losers, and Penney and Sears and Abercrombie are among the losers at the moment, the results don't usually fit this narrative.
Robert Miller, chairman of the board of Supervalu, and a board designee of Symphony Investors, has resigned. The board has appointed Gerald Storch as non-excecutive chairman.
Storch is former chairman and CEO of Toys "R" Us and a former vice chairman and long-time executive of Target Corp.
Gerald Storch, newly appointed non-executive chairman of Supervalu, will get standard non-executive directors fees from Supervalu plus an annual retainer of $100,000 for leading the board.