Strategy

Roughly 1,300 American Eagle Outfitters employees are participating this year in the retailer’s second annual AEO Better World Community Day.

The operator of more than 1,000 stores throughout the U.S. and several international markets developed the community involvement initiative last year as a means to unite employees for a common cause to make a difference at the local level. The company designated Tuesday, June 10 as Better World Day.

While the mantra of “keep it simple, stupid” has long been a staple in the world of business, the message of the recent SAP Sapphire 2014 conference in Orlando could be summed up as “keep it simple, smart.” Speakers throughout the three-day event stressed how leading-edge technology allows enterprises to operate with a previously unavailable simplicity and flexibility, providing new and exciting capabilities.  Here are a few examples.

Lowe's has named Paul D. Ramsay as chief information officer, effective immediately. Ramsay, who has been serving as acting CIO since March, will report to Richard D. Maltsbarger, who was himself appointed chief development officer. 

Ramsay is responsible for day-to-day operations of Lowe's IT organization, including the continued development of a technology portfolio designed to seamlessly support the operations of the company's stores, distribution network, e-commerce platforms and future business technology needs. 

New York — Sycamore Partners announced Monday that it bought the going-out-of-business Coldwater Creek brand and other intellectual property through an affiliate company during the  apparel chain’s  bankruptcy proceedings.  The private equity firm said it plans to re-launch Coldwater Creek as an independent portfolio company, but it did not give a timeline for the launch.

Terms of the acquisition weren’t disclosed.

The Hillshire Brands Company has confirmed that it received a unilateral binding offer from Tyson Foods to acquire all its outstanding common shares for $63 per share in cash.

By its terms, the Tyson Foods offer will remain in place until the termination of the Hillshire Brands/Pinnacle merger agreement or December 12, whichever comes first.

Mooresville, N.C. — Paul D. Ramsay has been promoted to CIO of Lowe’s Companies Inc., effective immediately. He has been serving as acting CIO since March.  

Activist investor Carl Icahn on Friday reported a 9.4% stake in Family Dollar, making him the company’s largest shareholder and prompting concerns of a hostile takeover.
 
Family Dollar has responded by adopting a one-year shareholder rights plan with a 10% trigger that would prevent any investor from gaining a controlling interest of the company without board approval.
 

Matthews, N.C. — Family Dollar Stores has adopted a one-year shareholder rights plan to prevent investors from gaining sizable control of the company. The move follows the disclosure on Friday that activist investor Carl Icahn has amassed a 9.39% stake in the retailer over the past two months, making him its largest shareholder.

In the filing on Friday, Icahn said he plans to push Family Dollar management to explore strategic changes, and that he might also seek board seats.