Mergers & Acquisitions

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.  

There is a new finance chief at Claire’s Stores.    The retailer has appointed Scott Huckins as its executive VP and CFO, effective Oct. 5. He joins Claire's from Sears Holdings where he served as VP, treasurer and president for Sears Re, (a wholly owned captive reinsurance company) for the last four years. In that role, he had responsibility for global treasury, capital markets, credit, risk management and reinsurance for the company.    

Yesway has named Douglas New as its chief technology officer.   New will be responsible for mapping and implementing the convenience store chain’s technology strategy, including defining the execution plan for Yesway's e-commerce platform. He will also assist in helping the company achieve its goal acquiring 500 stores over the next several years, according to a company statement. He will report to Mark Daniels, the convenience store chain's chief strategy officer.  

VF. Corp., whose brands include The North Face, Timberland and Nautica, will have a new chief executive come January.   The company announced that president and COO Steven E. Rendle will become CEO, effective Jan. 1, 2017. Rendle, 57, will succeed Eric C. Wiseman, who will continue to serve as executive chairman and work with Rendle to ensure a successful transition.    Rendle has more than 30 years of experience in the specialty outdoor and action sports industry, 16 of which have been with VF.

Gordon Brothers Group has a new name.   The 113 year-old, global advisory, restructuring, and investment firm said that all of its operating units will now be marketing under one name: Gordon Brothers.  

New shopping center construction may be in a nationwide lull, but not in Tarrant County, Texas, where a developer is poised to break ground on a 90-acre parcel flanked by two other sizeable centers.   A partnership controlled by the De La Vega Group will begin building a mixed-use project called The Citadel across Interstate 35 from Alliance Town Center and adjoining the newly opened Presidio Town Center north of Fort Worth. Upon its completion, retail space will top 2 million sq. ft. in the submarket.  

Ascena Retail Group, whose brands include Ann Taylor, Justice, and Lane Bryant, announced organizational changes expected to provide cost-savings of $100 million to $150 million by fiscal 2019.   The changes will see a number of executives leave the company, although Ascena did not disclose who would be leave. Also, Brian Lynch, CEO and president of Justice, has been appointed company COO.