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CEO of Claire’s Stores steps down
Chicago -- Claire’s Stores announced that Eugene S. Kahn has resigned. Kahn has served in the position since the company went private in 2007 in a $3.1 billion takeover by private-equity firm Apollo Management LP.
While the board will conduct a search for internal and external candidates, Claire's Stores President James G. Conroy and Jay Friedman, president of Claire's North American Division, will immediately form an interim office of the CEO.
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Family Dollar Q1 profit up 8%, revenue misses Street
Matthews, N.C. -- Family Dollar Stores Inc. reported Thursday that its first quarter profit rose 8% to $80.4 million, compared with $74.3 million in the year-ago period.
Sales for the period ended Nov. 26, 2011, rose to $2.15 billion from $2 billion in the year-ago period, missing Wall Street’s expected $2.17 billion in revenue. Same-store sales rose 4.1%.