Finance & Capital Management

BOISE, IDAHO – Albertson’s Supermarkets plans to purchase grocery store and c-store operator the United Family. The transaction’s terms have not been released.

NEW YORK — Stuart Weitzman has named vice chairman Wayne Kulkin as the company’s CEO. Kulkin will continue to report to Stuart Weitzman, executive chairman.

As CEO, Kulkin will focus on strategic global expansion and other growth opportunities for the Stuart Weitzman brand. In addition, Kulkin will assist with the selection of an executive team to support the brand's growth initiatives and develop a strategic roadmap for the future of the brand. 

Abercrombie & Fitch has extended its contract with GT Nexus to expand its cloud supply chain strategy and improve visibility into the movement of orders, payments and goods. 

Since 2010, the company has used the GT Nexus platform to support international sourcing and supplier collaboration.

Abercrombie & Fitch operates 1,053 apparel stores in 20 countries across four unique lifestyle brands: Abercrombie & Fitch, Abercrombie Kids, Hollister Co. and Gilly Hicks. The retailer operates distinct e-commerce sites for each of the four brands. 

Restoration Hardware plans to open full line design galleries in Greenwich, Atlanta and Los Angeles in 2014, and is currently in negotiations to open more than 30 locations in other key markets. The next generation full line design galleries will be larger and showcase the company’s assortment and new businesses.

Philadelphia -- Five Below saw net income surge to $4.1 million for the quarter ended August 3, up from $1.2 million in the year-ago period. Sales climbed 34.9% to $117.1 million from $86.8 million, and same-store sales increased 6.6%. The company had, by the quarter’s end, opened 32 of its previously announced 60 new stores on tap for 2013.

Boston -- City Sports announced that it will open its latest retail store this week at 225 Franklin Street, marking the company's eighth store in its hometown Boston market and first in the city's financial district.
 
The Franklin Street store will open the week of Sept. 9, giving a fresh look to the space once occupied by State Street. This will be the brand's second new store in the Boston area this year, following the opening of City Sports' Chestnut Hill location at The Street this past spring.

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.  

WinCo Foods has agreed to develop an 85,000-sq.-ft. modern grocery store at Old Orchard Village East in Lewisville, Texas.

WinCo Foods, founded in Idaho in 1967, is an employee-owned discount grocery that operates 87 stores and plans to expand into Dallas-Fort Worth metro region with 15 new stores over the next several years.

The deal will take the Old Orchard Village East center from 60% leased to 100% leased and make it possible to carry out a $20 million transformational redevelopment.

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.

Greensboro, N.C. – The Fresh Market has named Randall A. Young as its senior VP real estate and development effective Sept. 30. Young, 56, will oversee the company's real estate and development functions including market strategy development, site selection, store design, construction, store relocations and renovations.

Young most recently served as VP, real estate at Advance Auto Parts. He has also held a variety of real estate and construction roles at McDonald's Corporation, among other companies.