Mergers & Acquisitions

River Grove, Ill. -- Chuck Follett, president and CEO of Follett Corp., announced his decision to retire after 38 years of service with the company. Follett is the leading operator of college bookstores, and also a major distributor of physical and digital educational materials and services to primary, secondary and university level institutions.

Follett’s board of directors has initiated a search for Follett's successor. Follett will remain the company's president and CEO until a successor is identified.

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.

Tulsa, Okla. -- Scott & Goble Architects said Friday that it has been renamed SGA Design Group, effective immediately.

The firm operates offices in Bentonville, Ark., Berkley, Calif., and Los Angeles, in addition to its Tulsa headquarters.

Clients include Walmart, Kohl’s, Lowe’s, Sports Authority and Hobby Lobby.
 

CHICAGO — Claire's Stores has announced that Eugene Kahn , the company's CEO, has resigned. The company said its board of directors will conduct a search for a new CEO and will consider both internal and external candidates for this position. In the meantime, James Conroy , president of Claire's Stores, and Jay Friedman , president of Claire's North American Division, will form an interim office of the CEO, reporting to the board of directors. All of these management changes are effective immediately.

Family Dollar reported quarterly results after the market closed Thursday and offered a reminder why Walmart suppliers who participated in last month’s Connecting Northwest Arkansas Supplier Survey ranked dollar stores as the greatest competitive threat to Walmart in the next five years.

New York City -- Forest City Ratner Cos. announced that Kathryn Welch has been named retail group senior VP.

With 26 years of collective experience working with both New York City-based FCRC and its Cleveland-based corporate parent Forest City Enterprises, Welch now will assume oversight of all of FCRC’s retail projects. This includes retail properties under development as well as the company’s entire retail operating portfolio in the New York Metropolitan area.

MINNEAPOLIS — Target has disclosed the location of its first 24 stores in Canada. As previously announced, Target purchased the leasehold interests of 189 sites currently operated by Zellers Inc., and plans to open 125 to 135 stores in Canada, the majority of which will open in 2013.

Target plans to open stores in the following locations in March/early April 2013:

• London Westmount, Westmount Shopping Centre

• Kawartha Lakes, Lindsay Square Mall

Beachwood, Ohio -- DDR Corp. announced Friday new Five Below stores in consolidated small shop and downsized junior anchor locations at five Atlanta-area shopping centers.

DDR said the new locations represent the continuation of efforts to strategically reduce small-shop space as well as rightsize junior anchors and re-lease the residual space at attractive market rents. At the locations where Five Below will be occupying downsized space, DDR will realize rental increases of nearly 50%.