Mergers & Acquisitions

Medford, Ore. -- Harry & David Holdings has named Craig Johnson as its CEO.

Johnson most recently served as chief supply chain officer of Guitar Center. Prior to that, he was CEO of Musician's Friend, a Guitar Center subsidiary. He has also held positions at Oriental Trading Co., Golfsmith International Holdings, and Coldwater Creek.

The company exited Ch. 11 bankruptcy protection last month.

New York City -- VF Corp. reported that its third-quarter net income rose 24% on higher prices and sales, and raised its full-year outlook and quarterly dividend.

The clothing and footwear company said profit growth came from its September acquisition of Timberland and strong sales across most of its categories. 
 

New York City -- Saks plans to close its 20,000-sq.-ft. Saks Fifth Avenue Off 5th store in Triangle Factory Outlets in Morrisville, N.C., (metropolitan Raleigh) by Jan. 1.

The company opened a 30,000-sq.-ft. Off 5th location in Tanger Outlet Center of the Piedmont in nearby Mebane, N.C., in 2010, which will serve as a replacement store for the closing location. The new Mebane store was designed in the chain’s loft” format that debuted in 2008 and which redefined and elevated the outlet shopping experience.

BURBANK, Calif. — Former chairman, president and CEO of Procter & Gamble, A.G. Lafley, has joined Legendary Entertainment’s board of directors.

Lafley joins a board comprising Legendary's chairman and CEO Thomas Tull, as well as Jim Breyer, Larry Clark, Dick Cook and Joe Roth.

Legendary Entertainment is a media company with film (Legendary Pictures), television (Legendary Television) and comics (Legendary Comics) divisions.

New York City -- Tiffany & Co. announced plans to open a store in Prague, marking the luxury retailer’s first location in Eastern Europe. The 2,600-sq.-ft. store is scheduled to open in the summer of 2012.

“The opening of our first store in Eastern Europe marks a significant strategic move for Tiffany, as we further develop and grow our business throughout Europe,” said Melvyn Kirtley, group VP Europe.
 

No one said being an international retailer was easy, a lesson Walmart continues to learn the hard way on distant shores. This time the country in question is China, a market where despite having a long history and extensive operations, the company managed to run afoul of local officials who temporarily closed 13 stores because, according to media, reports, some pork products were incorrectly labeled as organic. Walmart has been in China for about 15 years and currently operates 349 stores, consisting of 245 Walmart stores and 104 units that are still branded as Trust-Mart.