Finance & Capital Management

New York -- Sycamore Partners announced that it has reorganized its Nine West Footwear Group into four separate businesses, each with its own leadership team. The top leadership has changed as well, as the company announced Nine West Footwear Group CEO Kathy Nedorostek has stepped down. She will be replaced in the interim by Andrew Hede, a turnaround specialist and managing director with Alvarez & Marsal in New York.

Family Dollar has rejected the revised proposal made by Dollar General on Sept. 2 on the basis of antitrust regulatory considerations. The Dollar General offer may be financially superior, the dollar store operator noted, but it's not likely to pass muster with the Federal Trade Commission.
 

Jacksonville, Fla. - Body Central Corp. is enacting a one-for-10 reverse stock split of its common stock. Each 10 shares of common stock will be converted into one share of common stock.

The number of outstanding common shares will be reduced from approximately 17.2 million to approximately 1.72 million. The number of authorized shares and the par value per share will remain unchanged.

Cincinnati - The Kroger Co. is hiring to fill an estimated 20,000 permanent positions in its supermarket divisions. The company has created more than 40,000 permanent new jobs in the past six years, not including the 25,000 employees who joined as a result of the Harris-Teeter acquisition.

"Kroger's growth trajectory creates more job opportunities for current and future employees," said Katy Barclay, Kroger's senior VP of human resources.

Bebe has taken significant steps to refocus on the Bebe brand, to preserve cash and to gain operating efficiencies across the organization. The retailer put these measures into effect by making changes in leadership, closing its 2b division and restructuring its corporate office, including retail management.

But the discontinuation of its 2b business, which was shut down July 5, took a bite out of the company’s second quarter, prompting the retailer to issue preliminary results.

Coppell, Texas – Alco Stores Inc. has named director Stanley B. Latacha as Interim CEO, effective immediately. Richard Wilson, who served as CEO for the past four years, has left Alco by mutual agreement with the board of directors.

Latacha has more than 30 years of retail experience, including overseeing turnarounds at Richman Gordman, Goody's, and more recently Pamida.

Dallas -- UCR Dallas has named Dan Shoevlin, a five-year veteran of the firm, as partner.

Shoevlin handles such high-profile assignments as Highlands at Flower Mound in Texas, Danada Square West in Illinois, Collin Creek Shopping Center, Addison Walk, Twin Creeks Village, Woodland Plaza in Tulsa and Museum Place in Fort Worth.

As partner, Shoevlin is charged with further growing the brokerage platform to meet the demand for institutional-quality leasing/management service in the Dallas/Fort Worth market and in other cities.

Just a few days after electing a whole new board of directors, Alco announced that newly elected director Stanley B. Latacha will assume the role of interim CEO, effective immediately.