Corporate Governance

Luxottica Group, the leading eyeglass retailer with multiple U.S. store banners, has entered into a deal that would create a global giant in the optical industry.   Luxottica, whose brands include LensCrafters, Sunglass Hut, Oliver Peoples, and Pearle Vision, will merge with lens-maker Essilor International of France in a deal valued at $49 billion. The merger brings together the industry’s largest manufacturer with its leading retailer.    

Christopher & Banks Corp. on Tuesday announced the departure of its CEO, effective January 17, 2017, and also lowered its fourth quarter guidance after a dismal holiday season.    The women’s apparel retailer said LuAnn Via, president and CEO, has departed the company. Also out: board chairwoman Lisa Wardell.  

CVC Capital Partners has agreed to sell Leslie's Holdings to L Catterton and an affiliate of GIC.       The financial details of the transaction have not been disclosed.   Founded in 1963, Leslie's is the world's largest retailer of swimming pool supplies and related products.   

After a 65-year run, The Andersons is leaving the retail business, closing its four big-box stores in Ohio. 

New York-based Clarion Partners has acquired Brookside Shops, a Trader Joe’s-anchored center in Acton, Massachusetts. The company did not disclose the purchase price.   “Brookside Shops is a well-positioned retail center with excellent fundamentals located in a highly affluent trade area,” said Clarion director Gary Rufrano.  

Walmart, the nation’s largest private employer with nearly 1.5 million associates, plans to add 10,000 new retail jobs in its upcoming fiscal year, which begins on February 1, 2017.   The discounter says the new jobs will be created through the opening of 59 new, expanded and relocated Walmart and Sam’s Club facilities as well as e-commerce services.    

Tiffany & Co has appointed Reed Krakoff to the newly created position of chief artistic officer.   Krakoff, who previous worked with Tiffany on the re-launch of its gifts, home and accessories collections, will join the company on Feb. 1. He will direct design for Tiffany & Co. brand jewelry and luxury accessories, and also lead the brand’s artistic and design vision with respect to stores, e-commerce, marketing and advertising.  

Macerich is offering retailers a promotional connection to smartphone shoppers at 22 of its properties.   Shoppers will be able to access the StepsAway app via mall Wi-Fi and search for products by category or individual retailer. Macerich tenants can create and deliver promotional offers through a cloud-based platform installed at the company’s headquarters.