-
Modell’s restructures merchandising division
New York -- Modell’s Sporting Goods said Wednesday it has named Charles Castaneda chief merchandising officer for the chain, a promotion from his current position of EVP planning and allocations.
The company has also moved Jay O’Brien from general merchandising manager of footwear to general merchandising manager of sporting goods, to succeed the recently departed Bill Hackett.
Jeff Schaffer has been promoted to general merchandising manager of footwear. -
Supervalu in deal with private-investor group led by Cerberus
Minneapolis -- Supervalu Inc. announced Thursday that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.
AB Acquisition, a consortium of investors led by Cerberus Capital Management, will get 877 stores across the various banners in the deal. The investor group also includes Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group.