retail news in context, analysis with attitude

• The Minneapolis/St. Paul Business Journal reports that Mark Schindele, who was sent by Target to Canada to rescue is struggling business there, is now being brought back to the US now that his efforts proved to be too little, too late, and CEO Brian Cornell has pulled the plug there.

Schindele, the story says, "has been moved back to the retailer's Minneapolis headquarters ... His new job is senior vice president of Target Properties, where he'll lead 'a broad and diverse team responsible for: store planning and design, real estate, corporate real estate, property management, construction, strategic sourcing and procurement and Target Commercial Interiors'." At least, that's what it says on his LinkedIn page...

Reuters reports that Kraft Foods CFO Teri List-Stoll will be leaving her role effective Feb. 28, while Chief Marketing Officer Deanie Elsner and Chuck Davis, executive vice president of research and development and quality and innovation, also are leaving the company.

Jane Hilk, president of the enhancers and snack nuts division, has been appointed interim chief marketing officer.

The moves are seen as part of a shakeup by new CEO John Cahill, who made the announcements as Kraft reported a net loss of $398 million, for the fourth quarter ended Dec. 27, compared with a profit of $931 million a year earlier.
KC's View: