Finance & Capital Management

DEERFIELD, Ill. — Walgreens on Monday named Thomas Sabatino Jr. EVP, general counsel and corporate secretary, effective Sept. 12.

Sabatino replaces Dana Green, who is retiring after 37 years with the company, Walgreens stated.

San Francisco -- Gap said Tuesday it plans to open stores in both Vietnam and Guam as part of the retailer’s efforts to ramp up overseas expansion.

A Gap store is slated to open in Vietnam in October, followed by a Banana Republic store in late 2012.

The first two Gap stores will open in Ho Chi Minh City as part of a franchise deal with Imex Pan Pacific, with additional stores set for Hanoi in 2012.

ENGLEWOOD, Colo. — Sports Authority announced that Darrell Webb has been named as interim CEO of the company, replacing David Campisi who is resigning as CEO and president of the company. 

As previously reported by Retailing Today, Webb currently serves as the chairman and CEO of Jo-Ann Stores. Webb previously has held senior positions at The Kroger Company, Fred Meyer Stores and Quality Food Centers. Webb will retain his position as chairman of Jo-Ann Stores while serving as Interim CEO of Sports Authority. 

Boulder, Colo. -- Organic grocer Sunflower Farmers Market said Monday that it will open a second location in San Jose in 2012, the company’s fourth in the Bay Area.

Sunflower said it will anchor West Valley Shopping Center, and is slated to open the 32,000-sq.-ft. store in second quarter 2012.

Wayne, N.J. -- Toys “R” Us is on track to open 21 stores across 13 states by yearend, including 11 “R” Superstores and 10 “Side-by-Side” locations. (The “R” format combines full-size Toys “R” Us and Babies “R” Us stores under one roof.)

The new reflect the company’s strategy to bring Toys “R” Us and Babies “R” Us together under one roof in an integrated store format, providing customers with a streamlined shopping environment.

In a second-quarter earnings season characterized by weather-depressed sales figures, Oak Brook, Ill.-based Ace Hardware Corp. managed to show a gain in revenues.

For the three months ended July 2, Ace saw revenues increase 0.5% to $1.021 billion. For the six-month period, sales increased 1.6% over the same two quarters in 2010.

Cape Town, South Africa -- A Tuesday report by Bloomberg said that Shoprite Holdings Ltd. has announced plans to speed up its store expansion this year as it faces increased competition from Wal-Mart Stores.

South Africa’s largest retailer by market value, Shoprite said it will add 106 stores by June 2012. That compares with 96 openings in the same period last year. The company currently operates 1,246 stores.

SAN FRANCISCO — Gap Inc. announced that it plans to open its first stores in Vietnam and Guam through its franchise channel. In Vietnam, the first Gap stores will open this October followed by the first Banana Republic store in 2012. The first Gap store will open in Guam in 2012. The company first made its products available to consumers in this region last year through its international online shipping provider.