Finance & Capital Management

MONTREAL — Dollarama has opened 93 net new stores in the past 12 months, including 22 during the second quarter ended Aug. 4, for a total of 828. This accelerated growth helped drive sales for the quarter, which increased 16% to $511.3 million from $441.0 million in the prior-year quarter.

Arlington, Va. –The Retail Industry Leaders Association (RILA) has named Annette Guarisco as executive VP for public affairs, effective Oct. 1. Guarisco will oversee RILA’s federal and state government affairs, as well as the association’s communications efforts.

Guarisco joins RILA following more than 11 years as a senior executive at General Motors, most recently serving as executive director of global public policy.

Richfield, Minn. -- Hubert Joly, president and CEO of Best Buy Co., Inc., exercised and sold 350,467 stock options and sold 100,686 shares of company stock on Sept. 6. Joly sold the stock due to circumstances relating to his divorce that was concluded in June of this year.

“As reflected in the Form 4, Joly's holdings remain substantially in excess of his 140,000 share ownership target under the company's executive stock ownership guidelines following the reported transaction,” Best Buy said in a press release.

Los Angeles — David K. Henry will join Transwestern as a Los Angeles-based managing director. He will lead the West Coast Tenant Advisory Services group and serve occupier clients with locations throughout the U.S. along with the tenant advisory group’s international alliance with Paris-based BNP Paribas Real Estate. Henry will also join the firm’s National Tenant Advisory Steering Committee.

Boston -- Restructuring and investment firm Gordon Brothers Group has acquired oil and gas appraisal company Appraisal Systems, and will use the acquisition to propel the launch of GB Energy Partners.
 
GB Energy Partners combines the energy expertise of Gordon Brothers Group, Emerald Technology Valuations and ASI into one comprehensive appraisal and disposition platform.

Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Fresh & Easy posted on its website Tuesday that more than 4,000 jobs would be saved under the purchase agreement but that some stores will be closing.  Specific stores have not been identified, and the terms of the agreement weren’t disclosed.

Plano, Texas – Coffee press manufacturer Bodum Group is reportedly suing J.C. Penney Co. for breach of contract. According to Reuters, Bodum filed a lawsuit in the New York State Supreme Court on Aug. 30 alleging the retailer did not live up to an agreement to build an agreed number of in-store Bodum specialty boutiques by March 2013.

 New York - Wayne Kulkin, former vice chairman of Stuart Weitzman, has been appointed CEO of the company, effective immediately. Kulkin will continue to report to Stuart Weitzman, executive chairman of Stuart Weitzman.

"Wayne has been a true partner over the last 23 years,” said Weitzman. “His passion, creativity and business acumen have been essential in driving our growth across diverse channels, and I am confident that Wayne will be equally instrumental in his new role as CEO.”