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Finance & Capital Management

  • Target exec joins Verizon board

    NEW YORK — Verizon Communications has elected Kathryn A. Tesija, EVP of merchandising and supply chain at Target to the Verizon board of directors, effective immediately.

    "Kathee Tesija brings to Verizon her valuable consumer insight as well as significant experience in managing the complex, large-scale, global retail functions of merchandising and supply chain," said Lowell C. McAdam, Verizon chairman and CEO.

    The addition of Tesija brings Verizon's total board membership to 12.

  • Carriers consolidate to enhance southern services

    The Arnold Transportation division of U.S. Xpress Enterprises will merge with LinkAmerica Corp. to create a trucking company with 1,400 vehicles, 5,000 trailers and 1,800 drivers.

    The combined company will operate under the Arnold name and will be jointly owned and operated by Arnold parent company U.S. Xpress and LinkAmerica’s private equity owner Tenex Capital Management.

    The deal extends Arnold's dominance in the regional market with increased capacity and a service footprint that expands to new geographies in southern states.

  • Online retailer Gilt names new CEO

    Discount luxury goods retailer Gilt appointed board member Michelle Peluso CEO effective at the end of February 2013 to replace company founder Kevin Ryan.

    Peluso is currently the global consumer chief marketing and Internet officer at Citigroup and has served on the Gilt board since 2009. She fills the position held by Kevin Ryan who founded the innovative company in 2007 and will remain as chairman. Current chairman Susan Lyne will become vice chairman.

  • Target exec elected to Verizon's board of directors

    New York — Verizon Communications has elected Kathryn A. Tesija, EVP merchandising and supply chain at Target to the Verizon board of directors, effective immediately.

    "Kathee Tesija brings to Verizon her valuable consumer insight as well as significant experience in managing the complex, large-scale, global retail functions of merchandising and supply chain," said Lowell C. McAdam, Verizon chairman and CEO.

    The addition of Tesija brings Verizon's total board membership to 12.

  • Dick's Sporting Goods to pay special dividend ahead of fical cliff

    New York -- Dick’s Sporting goods will pay $2 special dividend before year end in a move to help investors avoid what are presumed to be higher dividend tax rates in 2013 and beyond.

    The dividend payment will be made from cash on hand, according to the company.

  • Lowe's continues down transformation road

    New York -- Mooresville, N.C.-based Lowe’s is telling investors and analysts that changes are in the works, a message it has delivered steadily over the last several quarters.

  • Rite Aid same-store sales down 3% in Q3

    Camp Hill, Pa. — As expected, Hurricane Sandy left its mark on Rite Aid's monthly sales as the chain reported a decline in comps for November.

    The company said the 3% decrease in same-store sales for the five-week period ended Saturday included a 0.5% decrease in front-end comps and a 4.2% decrease in pharmacy comps, while same-store prescription count increased 2.2% compared with the same time last year.

  • Claire’s expands into China

    Chicago -- Claire's Stores Inc. announced the recent opening of the first Claire's stores in China, in DaNing Life Hub in Shanghai. The company’s second China store will open on Dec. 7, in Grand Gateway Mall in Shanghai.

    Claire’s has entered China on an owned and operated basis and has established a new division based in Shanghai.

  • Sprouts Farmers Markets taps Verisae for improved operations and lowered facility costs

    Minneapolis -- Sprouts Farmers Market has installed enterprise asset management software from Verisae to support the company’s aggressive growth strategy.

    The grocery retailer, which recently acquired Sunflower Farmers Market, recently implemented core modules of the Verisae connected facility platform; enterprise asset management (EAM), enterprise refrigerant management (ERM) and enterprise asset purchasing (EAP) solutions.

  • Dollar General adds foodie and financial experience to its board

    GOODLETTSVILLE, Tenn. — Dollar General has elected Sandy Cochran, president and CEO of Cracker Barrel Old Country Store, to its board of directors, effective December 5.

    “We are excited to add Sandy to the Dollar General board of directors,” said Rick Dreiling, Dollar General’s chairman and CEO. “Sandy’s extensive experience and perspective will provide us with valuable insights as we continue to grow our business. Her expertise will complement our board as we strive to build shareholder value.”

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