Finance & Capital Management

New Albany, Ohio - Abercrombie & Fitch Co. is separating its chairman and CEO roles and expanding its board's size to 12 members. The teen retailer is also terminating its shareholder rights plan.

Irving, Texas – An Illinois consumer has reportedly filed a lawsuit against Michaels Stores in federal court relating to the retailer’s possible recent data security breach. According to Bloomberg, Illinois resident Christina Moyer filed suit in Chicago federal court on Monday, Jan. 27, claiming the retailer broke an implied promise to protect the personal data of her and other consumers.

The search for a new CEO to lead Crocs is set to intensify now that the iconic footwear manufacturer has resolved its board structure with the addition of two representatives from private equity firm Blackstone Group.

Irvine, Calif. — Hanley Investment Group Real Estate Advisors closed out 2013 with 10 retail property sales totaling nearly $61 million in December. For the year, Hanley logged sales of more than $315 million. Among the December sales were:

New York -- Consumer confidence increased in January for the second consecutive month, rising to 80.7 from 77.5 in December, according to The Conference Board. Economists had expected a smaller increase, to 79. It was the second consecutive increase.

Dublin, Calif. – Ross Stores, Inc. has promoted Michael Hartshorn, 46 is being promoted to CFO, retaining his senior VP title, effective Feb. 2, 2014. Hartshorn will be responsible for the accounting, treasury, financial planning, tax, risk management and investor relations functions.

Ross Stores has promoted Michael Hartshorn to CFO, retaining his SVP title, effective Feb. 2. Hartshorn will be responsible for the accounting, treasury, financial planning, tax, risk management and investor relations functions.  

As CFO, he will continue to report to John Call, group SVP, finance and legal, and corporate secretary.

Miami -- Publix Super Markets will open a 49,000-sq.-ft. supermarket and pharmacy to anchor Terra Group’s latest retail center development, Doral Commons in Doral, Fla. The 140,000-sq.-ft. center is located in one of the fastest growing residential areas of Miami Dade County.

Courtelis Company represented Terra Group in the lease negotiation with Publix and will continue to represent the company in the leasing of the remaining available space in Doral Commons.