Mergers & Acquisitions

Naperville, Ill. -- OfficeMax announced that Michael J. Lewis will assume the role of executive VP and president of retail, effective May 2. He will have full responsibility for the retail P&L and all aspects of the retail business, including merchandising, store operations and real estate.

Most recently, from 2010 to early 2011, Lewis served as global head of a merchandising center for Wal-Mart Stores,

Cleveland -- Forest City Enterprises said Wednesday it has promoted Duane F. Bishop Jr., to the position of executive VP and COO of the company’s Commercial Group.

Bishop was previously executive VP – Asset Management. 

Forest City’s Commercial Group, the largest of three major strategic business units, includes the company’s retail, office and hotel properties.

New York City -- More than 60,000 Southern California grocery workers cast their votes on Wednesday whether to authorize a strike if contract talks with three of the nation's largest supermarket chains break down. A two-thirds majority vote was needed for passage.

The talks are with The Vons Cos.; Ralphs Grocery Co., a subsidiary of The Kroger Co.; and Albertsons, owned by Supervalu.

New York City -- Borders is seeking at least $50 million in additional financing as sales trail expectations and publishers demand cash in advance, according to two people who have seen the chain’s plans to reorganize, Bloomberg reported. The bankrupt retailer already has a $505 million debtor-in-possession loan from lenders led by GE Capital.

Borders may risk liquidation without further investment, easier terms from vendors or a buyer, said the people, who declined to be identified because the process isn’t public, the report said.

New York City -- Gap has chosen Manhattan's Upper West Side for its second freestanding Athleta store, Crain’s New York Business reported.

The report said has signed a lease to open a 3,500-sq.-ft. Athleta at 216 Columbus Ave. at W. 70th Street. The store will open in the fall, and Gap is already seeking more New York area locations, according to Crain's.

Gap bought Petaluma-based Athleta, a catalog and website that sell women's athletic clothes, for $150 million in 2008.

New York City -- Women’s fashion apparel retailer Francesca's Holdings Corp. filed for up to an estimated $150 million to be raised in an initial public offering.

The company has about $41.4 million in proceeds from the offering earmarked toward repaying a senior secured credit facility, Dow Jones Newswires reported. Remaining funds may be used for opening new stores and growing its e-commerce business.

For the year ended Jan. 29, Francesca's same-store sales climbed 15% on top of a 9.8% increase a year earlier.

Anaheim, Calif. -- Pacific Sunwear of California announced that Michael Kaplan will join the company as senior VP and CFO, effective May 2. He will be replacing Mike Henry who became interim CFO in November 2007 and was named CFO in January 2008.

Most recently, Kaplan was CFO of Harbor Freight Tools, a 349-store retailer of proprietary branded tools. Prior to joining Harbor Freight Tools in 2010, he was a senior executive of Gap Inc. from 2005 to 2010.

The recent opening of the 500th Vitamin Shoppe store was heralded as an important milestone for this rapidly growing company but within a few years the nation’s second largest nutritional products specialty retailer could be eyeing 1,000 units.

“There are many markets we are interested in establishing a presence in, and we will continue to move forward with our growth plans to expand in current markets and penetrate new ones,” Vitamin Shoppe CEO Tony Truesdale said on the occasion of the opening of the 500th store in St. Peters, Mo., earlier this month.