Mergers & Acquisitions

Fort Myers, Fla. -- Chico's FAS announced Tuesday that it has appointed Kent A. Kleeberger to the position of executive VP, COO. 

Kleeberger will replace Jeffrey A. Jones, who is retiring from the company effective March 7. Jones will serve as part-time consultant to the company during a transition period.

Kleeberger, 58, has served as executive VP-finance and CFO of Chico's FAS since joining the company in November 2007. Previously, he was senior VP and CFO for Dollar Tree Stores.

NEW IBERIA, La. — The Grocery Manufacturers Association has tapped the leader of a food manufacturer to serve on its board of directors.

J.S. "Si" Brown, president and CEO of Bruce Foods, will serve on GMA's board. Brown has held led the company, which specializes in manufacturing Cajun and Tex-Mex products, since 1973.

Mexico City -- Wal-Mart de Mexico SA reported Tuesday that profit for the fourth quarter increased 14%, citing newly acquired stores in Central America for the improved performance.

The Mexican unit of Wal-Mart Stores said that net income rose to $539 million in the fourth quarter, up from $474 million in the year-ago period.

Revenue rose 25% to $8.3 billion. 

Walmex recently acquired stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

Dallas -- Zale Corp. said Tuesday that it has appointed David F. Dyer, chairman, president and CEO of Chico’s FAS, to its board of directors, effective immediately.

The company also announced the resignation from the board of Charles M. Sonsteby, who had served since November 2006.

Dallas -- Alliance Data Systems Corp., a provider of loyalty and marketing solutions derived from transaction-rich data, said Tuesday it has signed a new, long-term agreement to provide private label credit-card services to women’s apparel retailer J.Jill.

ST. LOUIS — Save-A-Lot on Monday announced that it was expanding its reach by opening five new stores in the Chicago market.

Save-A-Lot, the hard-discount, limited-assortment grocery retailer and subsidiary of Supervalu, would nearly double its presence in the area, bringing the total Chicagoland stores to 13. The five stores, located in Chicago's South Side, range in size from 11,000 to 21,000 sq. ft.

New York City -- Blockbuster said on Monday that it reached a $290 million deal to be bought out of bankruptcy by a group of investors.

The offer by a group of hedge firms comprised of Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Värde Partners -- is a so-called “stalking horse” bid. It sets a base price that Blockbuster hopes will attract other potential suitors who will offer more.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.