Finance & Capital Management

A premium children’s brand is planning a growth spurt.    Private equity firm L Catterton has acquired Hanna Andersson for an undisclosed sum, with the intent of expanding the Swedish children’s apparel retailer across its channels.   Hanna Andersson currently operates a robust e-commerce and catalog business in addition to 55 retail stores and 11 outlet locations.  

GameStop Corp. has acquired three AT&T mobility banners, which will add 507 wireless units to its global base of stores. The purchase price wasn’t disclosed.  

CVS Health on Tuesday reported an increase of 17.6% in net revenues for the three months ended June 30, 2016, to $43.7 billion.

Hhgregg has completed its search for a permanent CEO by giving interim chief Robert Riesbeck the long-term nod.   Riesbeck has held the interim title since February, when then-CEO Dennis May tendered his resignation. Now, with the top position becoming permanent, Riesbeck will give up his CFO title and the company will launch a new search for a replacement.  

Smoothie operator Tropical Smoothie Café has refreshed its brand by blending a coastal atmosphere and elevated customer experience – with plans to take the new look and feel to locations nationwide.   "As Tropical Smoothie Cafe continued growing and evolving over the past several years, it became obvious to us that our brand's image needed to follow suit,” said Mike Rotondo, CEO. The company launched the rebranding via a new restaurant design that it plans to introduce to new and existing stores.

Kristin Campbell is executive VP and general counsel for Hilton Worldwide Holdings, but it’s her prior office supply retail experience that motivated Office Depot to proffer a seat on the board.   Prior to joining Hilton, Campbell spent 18 years at Staples, where she was most recently senior VP, general counsel and corporate secretary.  

Construction spending in the retail sector saw a dip in June, according to a report by the Associated General Contractors of America, but the first half of the year recorded an overall gain.   Commercial (which includes retail, warehouse and farm) construction declined 1.6% in June, per the report, but climbed 8.6% year-to-date. Association officials said spending appears to have leveled off after a strong early start to the year prompted by mild winter weather conditions in many parts of the country.  

In its search to find the right financial overseer, Destination Maternity Corp. didn’t have to look any farther than the auto parts industry.   On Monday, the maternity apparel retailer named David Stern, former CFO of Pep Boys – Manny, Moe and Jack, as executive VP and CFO, charged with leading the finance and accounting, real estate, loss prevention and procurement areas of the company.   Stern will report to CEO Anthony Romano.  

Mike McNamara isn’t shy about making changes.   Target Corp.’s chief information officer has launched a hiring spree aimed at turning Target into an engineering powerhouse.   Click here for more.