Thursday, July 30, 2015

Bon-Ton names ex-Lord & Taylor exec as CEO

The regional department-store operator hired Brendan Hoffman as its CEO, succeeding Bud Bergren.

Bon-Ton names ex-Lord & Taylor exec as CEO

0 comments
Brendan L. Hoffman (Business Wire)
Brendan L. Hoffman (Business Wire)

Bon-Ton Stores Inc. hired the head of the Lord & Taylor department-store chain to be its new chief executive.

Brendan L. Hoffman will join the York-based retailer that operates 276 department stores in 23 states under various regional names, including Elder-Beerman, Carson Pirie Scott and Bon-Ton.

Shares of Bon-Ton rose 13 percent in morning trading, up 42 cents to $3.65.

Hoffman will replace Bud Bergren as president and CEO of Bon-Ton. Bergren will become chairman of the chain, while current executive chairman, Tim Grumbacher, will leave that role but remain on the board.

Hoffman, 43, who will join Bon-Ton Feb. 7, had been president and CEO of New York-based Lord & Taylor since October 2008. He is leaving Lord & Taylor amid a consolidation of operations and management teams by its parent company, Canada's Hudson's Bay Co.

In a separate announcement, Hudson's Bay said it had completed its acquisition of Lord & Taylor, which has been an affiliate, and that Hoffman would leave to pursue "another opportunity."

Like other department stores, Bon-Ton struggled during the recent holiday shopping season, posting weaker than expected sales.

Inquirer Columnist
0 comments
We encourage respectful comments but reserve the right to delete anything that doesn't contribute to an engaging dialogue.
Help us moderate this thread by flagging comments that violate our guidelines.

Comment policy:

Philly.com comments are intended to be civil, friendly conversations. Please treat other participants with respect and in a way that you would want to be treated. You are responsible for what you say. And please, stay on topic. If you see an objectionable post, please report it to us using the "Report Abuse" option.

Please note that comments are monitored by Philly.com staff. We reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable. Personal attacks, especially on other participants, are not permitted. We reserve the right to permanently block any user who violates these terms and conditions.

Additionally comments that are long, have multiple paragraph breaks, include code, or include hyperlinks may not be posted.

Read 0 comments
 
comments powered by Disqus
About this blog
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist
Also on Philly.com:
letter icon Newsletter