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Finance & Capital Management

  • Jo-Ann Stores names Fred’s, Walgreens vet to new exec role

    Jo-Ann Fabric and Craft Stores has appointed Bryan Pugh to the newly created position of executive VP, stores and store operations. He will lead financial, operational and cultural leadership of Jo-Ann Stores.
        
    Pugh joins Jo-Ann from Fred’s Pharmacy & Super Dollar where he served as executive VP, chief merchandising and marketing officer. His experience also includes serving as senior VP, chief merchandising officer at Walgreen Co. in addition to several roles of increasing responsibility at Tesco.
     

  • Walgreens gives update on Rite Aid deal; ups store divesture estimate

    Based on ongoing discussions with the Federal Trade Commission, Walgreens Boots Alliance gave an update on the amount of stores it will need to divest to win approval for its acquisition of Rite Aid.     Walgreens Boots Alliance said it now expects that the most likely outcome will be that the companies will be required to divest more than 500 stores, but fewer than 1,000 stores. The company previously said that it expected it would have to divest 500 or fewer stores.    

  • United Supermarkets makes sure ‘cash is king’ with new solution

    Digital payment volume may be growing industry-wide, but there is still plenty of currency filtering through retail stores.  

  • Chain Store Age welcomes readers of Retailing Today

    Chain Store Age is pleased to announce that its sister brand, Retailing Today, has become part of a larger, more robust Chain Store Age, one with greater industry coverage and retail audience reach.   “With the merging of Retailing Today into Chain Store Age, readers and advertisers can expect a comprehensive brand representing the full range of omnichannel retail operations,” said Gary Esposito, group publisher, Chain Store Age.  

  • Pet supplies chain keeps opening stores

    Petco will be busy in September.   The retailer announced it will open 13 stores in September, along with one relocation. The expansion reflects Petco’s 2016 growth plan, which includes 34 new Petco stores and one new Unleashed by Petco year-to date.  

  • Kimco announces $265 million in deals

    Kimco Realty Corp. has purchased the remaining 85% interest in a four-property joint venture portfolio, a deal that includes the assumption of $103 million in mortgage debt. The company also announced it had acquired a Whole Foods-anchored center in the D.C. area for $95 million.  

  • Gap among those unfazed by Macy’s coming store closures

    Top suppliers don’t seem very worried about Macy’s looming store closings. And neither does the CEO of Gap Inc., according to a report by CNBC.com.   Gap chief executive Art Peck told attendees at Goldman Sachs' Annual Global Retailing Conference that he sees the Macy's store closures as an opportunity to grab market share, the report said.  

  • CEO of Pier 1 Imports stepping down

    Pier I Imports is on the hunt for a new chief executive.   The home décor retailer said that its board of directors had  “mutually agreed” with Alex W. Smith that he will step down as president, CEO and a board member, effective Dec. 31, 2016. Pier I’s board is working with Korn Ferry to find a new CEO.  
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