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Finance & Capital Management

  • Jockey mixes money with technology in C-suite

    Kenosha, Wis. – Some things are traditionally assumed not to mix – oil and water, cats and dogs, finance and IT. While the CFO has been taking a more active role in high-level IT decision-making in recent years, vertical apparel retailer Jockey International Inc. mixes money with technology more than most of its competitors.

    The Wall Street Journal reports that privately held Jockey recently hired Dain Bussewitz, former VP of finance at Abercrombie & Fitch, to assume the combined role of CIO and CFO.

  • Express promotes finance VP to CFO

    Columbus, Ohio – Express Inc. is naming a new CFO, and not looking far to fill the role.

    Perry Pericleous, previously VP, finance, has been promoted to senior VP, CFO and treasurer, reporting to Matthew Moellering, executive VP and COO.  

    Pericleous succeeds Paul Dascoli, who has left the company, effective July 7. Pericleous, 42, is a 15-year veteran of Express and most recently served as VP, finance with responsibility for all financial planning and analysis functions.

  • Advance Auto Parts shifts into high financial gear

    Roanoke, Va. – Advance Auto Parts Inc. is shifting into high gear when it comes to finance. The retailer has been selected to join the prestigious Standard & Poor’s (S&P) 500 stock index at the close of business July 8, replacing Family Dollar Stores Inc.

  • How Starbucks beats the cost of living

    Seattle – Although coffee prices are on the wane, Starbucks Corp. is facing rising wage and rent expenses. The retailer is passing at least some of those costs along to the consumer with higher prices on some beverages.

  • Express makes change in finance team

    Express Inc. has named a new CFO, and the retailer did not look far to fill the role.

  • Is the Container Store back on track?

    The Container Store may have cleared the low bar it set for itself in the first quarter, but reporting a loss and another quarter of negative same store sales can’t feel good.

  • Thirty-one stores and growing

    Chicago -- Marbles: The Brain Store is in an expansion mode.

    The retailer has opened a new store in Washington D.C., at National Harbor, the waterfront shopping and entertainment district on the Potomac River. It is Marbles’ second location in the Washington, D.C., area and its third to open this summer, with new stores debuting in Times Square in New York City and Myrtle Beach, South Carolina, marking its first location in the southern region.

  • Rite Aid in new risk management appointment

    Camp Hill, Pa. -- Rite Aid Corporation is beefing up its risk management.

    The drugstore chain announced that Paul Zikmund, a risk management professional with nearly 30 years of experience, is joining Rite Aid as group VP of risk and controls.

    In this new position, Zikmund will oversee the risk management program for Rite Aid as well as its subsidiaries, RediClinic, Health Dialog and EnvisionRx. Zikmund will report to Tony Bellezza, Rite Aid senior VP and chief compliance officer.

  • Acquisition creates discount giant

    Chesapeake, Va. -- It’s a done deal.

    Dollar Tree announced Monday that it has completed its $8.5 billion acquisition of Family Dollar Stores.

    Gary Philbin, 58, formerly president and COO of Dollar Tree, has been named to the same position at Family Dollar, effective immediately. In his new role, Philbin will continue to report to Bob Sasser, CEO of Dollar Tree.

  • American Apparel saga continues: May need more cash

    Los Angeles -- American Apparel on Monday announced it would close some stores as part of a $30 million cost-cutting initiative in its strategic turnaround plan. (American Apparel CEO Paula Schneider discussed the plan with CSA in a recent interview.) The embattled company also made two other revealing disclosures.

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