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Eminence Capital criticizes Jos. A. Bank for Eddie Bauer purchase
New York - Eminence Capital, LLC, which owns 4.9% of the common stock of Jos. A. Bank Clothiers, has sent a letter to the board of directors criticizing their announced acquisition of Eddie Bauer. According to the letter, signed by Eminence CEO Ricky Sandler, the nearly $900 million acquisition is a poor decision that has an excessive price which almost surely destroys shareholder value.
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J.M. Smucker exec steps into director role at Foot Locker
Foot Locker has elected Steven Oakland, president of international, foodservice and natural foods at the J.M. Smucker Company, as a director of the company.
Oakland has spent the bulk of his career at J.M. Smucker serving in increasingly senior positions. He has experience in domestic and international retail operations at the company, having also served as president of U.S. retail for Smucker's, Jif and Hungry Jack, and as GM of its Canadian operations.