Mergers & Acquisitions

CAMP HILL, Pa. — Rite Aid's profits grew in fourth quarter and fiscal year 2013 amid stronger front-end sales and prescription count, the retail pharmacy chain said Thursday.

Timothy Breene, former chief strategy and corporate development officer and founder and CEO of Accenture Interactive – the fast growing digital media and marketing analytics business – has joined Orchestro’s board of directors to help enable brands worldwide to act with the speed and agility needed to win every inch in today’s tightly matched market.

New York -- New York State Supreme Court Justice Jeffrey Oing on Thursday refused to dismiss Macy's Inc's claim that Martha Stewart Living Omnimedia violated its contract when it designed certain merchandise for J.C. Penney Co., regardless of whether the items carry the Martha Stewart brand.

Lynn Bradley, senior director, retail development, is out at Handy Hardware Wholesale, a cost-cutting move according to the Houston-based co-op.

Handy Hardware Wholesale, which filed for bankruptcy protection in January, eliminated the position of “senior director, retail development,” as part of a cost-reduction plan, according to Morrie Aaron, president of MCA Financial Group. MCA is Handy’s financial advisory firm that specializes in restructuring.

New York -- Three executives who had previously worked with Ron Johnson at Apple and then joined him at J.C. Penney have left the embattled department store chain in the wake of Johnson’s ouster, the New York Post reported.

According to the report, Mike Kramer, COO, Daniel Walker, chief talent officer, and Mike Fishe, chief creative officer, left Penney on Wednesday. The newspaper said Kramer resigned, but that it was not clear whether Walker and Fisher left voluntarily.

FORT WORTH, Texas — Pier 1 Imports reported net income of $61.7 million, or 58 cents per share, for its fourth quarter. For the fourth quarter ended Feb. 25, 2012, the company reported net income of $115.2 million, or $1.04 per share.

BELLEVUE, Wash. — Kitchenware manufacturer, Rena Ware International, has announced that Benjamin J. Zylstra will succeed his father, Russell J. Zylstra , as CEO of the company.  Russ Zylstra will remain as chairman of the board of Rena Ware and will continue to be involved in defining the direction and vision of the company. 

By Rafi Musher, [email protected]