Finance & Capital Management

Hoffman Estates, Ill. – Sears Hometown and Outlet Stores Inc. has named William (Will) A. Powell as CEO and president. Powell succeeds W. Bruce Johnson, who as previously announced is stepping down as CEO and president.

Littleton, Mass. – Specialty equestrian retailer Dover Saddlery Inc. is jumping into a new business arrangement.

Dover Saddlery has completed its merger with a company formed by Webster Capital. Dover shareholders will receive $8.50 per share in cash in the merger, and all in-the-money stock options and warrants will be cashed out.

San Jose, Calif. – PayPal Inc. is getting itself “in the money” with a major acquisition as the company prepares for its impending July 17 split from eBay Inc.

PayPal will purchase digital money transfer service Xoom Corp. for $25 per share in cash, or about $890 million.

New York – Aeropostale Inc. is expanding in Asia through new licensing agreements in India and Indonesia. The company plans to open stores in India through a licensing agreement with Arvind Lifestyle Brands Ltd., and in Indonesia through a licensing agreement with PT Mitra Adiperkasa TBK (MAP).

New York – Barnes & Noble Inc. has tapped Ronald D. Boire, currently president and CEO of Sears Canada Inc., to become the CEO of its new retail division, effective Sept. 8.

New York -- Kohl's has thrown its hat in the growing off-price market.
 
The company has officially debuted its new off-price format, Off Aisle by Kohl’s, with a test store in Cherry Hill, New Jersey.

It might seem counterintuitive to suggest that Houston, the nation’s fourth most populous city, is ever in danger of being overlooked, but the reality is that, for a long time, this rapidly growing Texas metropolis has frequently not been thought about in the same category as its peers. That is changing, however, and in many ways Houston has become that gateway market it has always longed to be. With the kind of population growth the city has been experiencing, population projections of 8 million - 9 million people in the not-too-distant future do not seem too far-fetched.

QVC has named a Procter & Gamble veteran as its next business planning and analysis chief, as the company looks tomaximize efficiencies and organizational synergy.

QVC has named a Procter & Gamble veteran as its next business planning and analysis chief, as the company looks to maximize efficiencies and organizational synergy.

Sears Hometown and Outlet Stores has promoted its chief operating officer to CEO.

The board of directors has elected William (Will) A. Powell as the company’s chief executive officer and resident, effective immediately. Powell succeeds W. Bruce Johnson, who as previously announced is stepping down.