PetSmart acquired Pet360 for $130 million in cash and up to $30 million more in future performance-based payments.
Hudson`s Bay Trading Co. LP has named Brendan Hoffman the top executive for upscale department store chain Lord & Taylor. Hoffmann was formerly president and CEO of Neiman Marcus Direct, the web and catalog arm of The Neiman Marcus Group Inc.
Lord & Taylor has chosen a high-profile e-commerce executive to be its next president and CEO.
Hudson`s Bay Trading Co. LP, which operates department store brand Lord & Taylor, has hired Brendan Hoffman as the top executive. Hoffmann, who joins Lord & Taylor effective Oct. 6, was previously president and CEO of Neiman Marcus Direct, the web and catalog arm of The Neiman Marcus Group Inc., No. 37 in the Internet Retailer Top 500 Guide.
At Lord & Taylor, Hoffman will report to Hudson`s Bay CEO Jeffrey Sherman. Hoffman replaces outgoing Lord & Taylor CEO Jane Elfers. Lord & Taylor operates an e-commerce site at LordandTaylor.com.
Hoffman began his retail career in Lord & Taylor’s executive training program and worked as a divisional merchandise manager in men’s furnishings. Hoffman also spent two years at Bergdorf Goodman as a divisional merchandise manager before joining Neiman Marcus as vice president of the clearance division. He had served as the head of Neiman Marcus Direct, which generated fiscal 2008 e-commerce revenue of $564.5 million, since 2002.
The appointment of Hoffman and other recent organizational changes represent an effort by Hudson`s Bay and its subsidiaries to generate better economies of scale through improved purchasing, shared services, and more efficient utilization of information technology including e-commerce technology, the company says.
The Hudson`s Bay holding company includes Lord & Taylor, an upscale specialty retailer with 47 stores in nine states; Fortunoff, a 23-store retail chain specializing in fine jewelry and home furnishings in the New York area; Creative Design Studios, the fashion design and manufacturing division that creates branded collections for customers in North America and overseas; and Hudson’s Bay Co.
Neiman Marcus says it has not yet named a replacement for Hoffman. Lindy Rawlinson, vice president of web operations and new business at Neiman Marcus, will lead off the second Internet Retailer Web Design Conference, Jan. 19-22, 2009, in Miami. Rawlinson’s Keynote Address will be on Jan. 20.