Finance & Capital Management

Morrisville, N.C. - Charles & Colvard Ltd. has closed a new three-year $10 million asset-backed credit facility with Wells Fargo Bank. The company’s previous credit facility with PNC Bank was terminated.

The new credit facility provides Charles & Colvard working capital for general corporate purposes and to pursue continued growth opportunities and is secured by Charles & Colvard assets. The company currently does not have any other long-term debt and the new credit facility is undrawn.

Online retailer Gilt has added Adrianne Shapira to the company's board of directors.

Shapira has served as the CFO of David Yurman, a fine jewelry luxury brand, since 2012. She is a member of the executive committee that looks to build upon David Yurman's successes by capitalizing on future channel, category and geographic growth.  

Minneapolis -- Tile Shop Holdings announced the appointment of Kirk Geadelmann as its new CFO.

He will transition into the role on August 12, 2014, succeeding CFO Timothy C. Clayton, who has resigned his position to accept an executive position with another company. Clayton will remain with the Tile Shop until mid-August to ensure a smooth transition of responsibilities.

Prior to joining Tile Shop, Geadelmann worked for 14 years at Best Buy, most recently serving as the corporate and international controller.

Fort Myers, Fla. -- Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Prior to his appointment as CFO, Vogensen had been the Chico’s senior VP finance. He has served Chico's in numerous roles over the past five years. Previously, Vogensen held multiple positions of increasing scope and responsibility with Michaels Stores.

The Rick Dreiling era is coming to an end at Dollar General as the chairman and CEO announced plans to retire next year, initiating a search internally and externally for a successor.

Indianapolis -- The Finish Line’s first-quarter profit more than doubled as the retailer expanded its presence online and in Macy's stores nationwide. Its results topped Wall Street estimates.
 
The retailer reported a profit of $12.4 million, compared to $5.1 million in the year-ago period. Revenue was up 16% to $406.5 million. Same-store sales increased 5%.
 

Paterson, N.J. — Planet Fitness will open an 18,000-sq.-ft. facility at 100 Hamilton Plaza in Paterson, New Jersey, the facility will occupy the first-floor retail space in the 175,000-sq.-ft. downtown office tower.

Cushman & Wakefield’s East Rutherford, N.J., office represented the building’s owner, Mountain Development Corp. in the transaction. Ripco Real Estate represented the Planet Fitness franchisee, who operates several other regional locations.

Chico's FAS has appointed Todd E. Vogensen as SVP, CFO, replacing Pamela Knous, who has left the company.

Prior to his appointment as CFO, Vogensen had been the company's SVP of finance. He will report to Kent Kleeberger, who himself filled the CFO spot from 2008 to 2011 and is currently EVP, COO.