Corporate Governance

Stuart Weitzman Holdings has named François Kress as the company’s global president.

In this newly created position, Kress will oversee all aspects of the global retail and wholesale business plus take on the role of strategic leader for new initiatives and brand extensions. He will report directly to Wayne Kulkin, CEO, and will be based out of international headquarters in New York City.

Canadian dollar-store operator Dollarama reported an increase in sales and an improvement in net earnings for the third quarter ended Nov. 3. The quarter was characterized by continued growth in the store network and solid comparable store sales growth.

Sales for the quarter increased by 14.2% to $522.9 million from $458 million in the year-ago period. The increase was driven, in part, by the growth in the number of stores in the past 12 months, from 761 stores on Oct. 28, 2012 to 847 stores on Nov. 3, 2013.

New York -- Aeropostale reported a loss of $25.6 million for its fiscal third quarter, compared to a profit of $25 million in the same period last year.

Sales dropped 15% to $514.6 million, from $605.9 million in the year-ago period. Same-store sales also decreased 15%.

Los Angeles -- Guess Inc. saw profit in the third quarter dip 3.4% to $35.4 million, from $36.6 million for the third quarter last year. Results, however, surpassed company expectations.

"We are pleased to report better than expected third quarter earnings. We delivered revenues within the range of our expectations and through our continued focus on cost control have been able to deliver profitability at the high end of our expectations,” said Paul Marciano, CEO.

New York -- New York & Co. reported a loss of $3.4 million for the quarter ended Nov. 2, compared with a loss of $3.8 million in the same period last year.

Sales fell to $217.6 million, from $219.3 million, and same-store sales increased 3%.

Foothill Ranch, Calif. -- Wet Seal recorded a loss of $14.9 million for the fiscal 2013 third quarter, essentially flat with last year.

Sales dipped to $127.7 million from $135.5 million, and same-store edged up 0.8%, including an increase of 1.7% at Wet Seal and a decrease of 6.7% at Arden B.

Los Angeles -- John Dawson has been named president and CEO of coffee and tea retailer Coffee Bean & Tea Leaf, charged with accelerating the chain’s plans for global growth.

Sharon, Pa. -- Casual-dining brand Quaker Steak & Lube announced an area development agreement with Bosselman Food Services to open two locations in Nebraska and one in Iowa, which will mark the brand's entrance into the state of Nebraska. Bosselman Food Services plans to open one Quaker Steak & Lube restaurant per year in 2014, 2015 and 2016.

"We look forward to the opening of our first restaurant next year, and are excited for a great future with Quaker Steak & Lube," said Charlie Bosselman, president of the Bosselman Cos.

Oak Brook, Ill. -- The Inland Real Estate Group of Cos. has been named the recipient of the 2014 Torch Award for Marketplace Ethics by the Better Business Bureau.

The award was presented at the 17th Annual BBB Awards Luncheon Ceremony at the InterContinental Hotel in Rosemont, Ill.  

This is the second Torch Award for Marketplace Ethics that Inland has received from the BBB. The company was presented with its first Torch Award for Marketplace Ethics in 2009. Last year’s winner was The Boeing Co.

Tempe, Ariz. -- Togo's Eateries has opened its first restaurant in Tempe, Ariz., owned by current Togo's franchisees, Monty and Diana Coury, who opened the first Togo's restaurant in Gilbert, Ariz., last year.

"Since opening our first restaurant in Gilbert, we've seen a tremendous amount of support from the community and there is still a huge potential for growth in the market,” said Monty Coury.