Consumer Affairs & Relations

Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Fresh & Easy posted on its website Tuesday that more than 4,000 jobs would be saved under the purchase agreement but that some stores will be closing. Specific stores have not been identified, and the terms of the agreement weren’t disclosed.

Akron, Ohio - Sterling Jewelers and Zale Corporation have reached a negotiated settlement of a lawsuit pending in The United States District Court for the Northern District of Ohio. The suit, originally filed in November 2012, alleged that Zale was engaging in false advertising by calling one of its diamonds “the most brilliant diamond in the world.”

The settlement will go into effect March 2014. Details are confidential.

Neiman Marcus is closing in on a deal to be purchased by Ares Management and the Canada Pension Plan Investment Board for $6 billion, according to reports.

Dallas – Neiman Marcus is reportedly closing in on a deal to be purchased by Ares Management and the Canada Pension Plan Investment Board for $6 billion.

Dallas -- Tuesday Morning Corp. said it has appointed Jeffrey Boyer as executive VP, chief administrative officer and CFO, effective immediately. Boyer fills both the existing chief administrative officer vacancy and replaces outgoing CFO Stephanie Bowman.

Boyer previously was CFO, then COO of 24 Hour Fitness Worldwide, and has also served as CFO of Michael’s Stores and Kmart Corp.  

Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.

The husband of a woman who died following a bizarre series of developments precipitated by a shopping trip to Walmart is pursuing an even more bizarre lawsuit alleging the retailer and its manufacturer of plastic bags are at fault.

Woonsocket, R.I. – CVS/pharmacy is offering members of its ExtraCare loyalty program double their ExtraBucks quarterly reward earnings between Sept. 16 and Dec. 15. Members can sign up for double earnings in-store or online and receive 4% instead of the usual 2% back on all eligible front-store purchases in the form of “ExtraBucks” that can be spent like cash in the store.