Corporate Governance

Bi-Lo and Winn-Dixie parent Bi-Lo Holdings plans to retire the Sweetbay and Reid’s banners. The company will begin converting all Sweetbay stores to the Winn-Dixie name and Reid's stores to Bi-Lo in 2014, and confirmed the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.

ChapStick has selected Alex Morgan, Olympic gold medalist and member of the U.S. Women’s National Soccer Team, as its latest brand ambassador. Morgan will serve as the first brand spokesperson in more than a decade and will appear in national television and print advertising, set to debut Nov. 4.

The product focus for the start of Morgan’s two-year partnership is ChapStick Hydration Lock. 

The Bon-Ton Stores has signed a lease with Rouse Properties for a new Herberger’s store at Cache Valley Mall in Logan, Utah — its first in the state. 

The company expects to begin remodeling the 62,000-sq.-ft. facility in early spring 2014 and to be completed in the second half of 2014.

Revlon’s wholly owned operating subsidiary, Revlon Consumer Products, completed its previously disclosed acquisition of the Colomer Group, including the Revlon Professional business, for a cash purchase price of $665 million.

Leading consumer products company Helen of Troy saw solid growth in all its business segments during the second quarter, which led to record sales of its stable of well known brands, but stagnant profits.
Sales increased 11.1% to $319 million during the quarter ended August 31, but profits were essentially flat at $23.3 million, or 72 cents a share, compared to $23 million, or 72 cents a share. Gross margins declined to 38.6% from 40.7% the prior year while expenses as a percent of sales declined to 29.1% from 30%.

 New York — YogaWorks has begun construction on its first location in Brooklyn. The new studio will encompass 5,800 sq. ft. in the new Brooklyn Heights Plaza on Joralemen Street. Set to open next spring, this will mark YogaWorks 28th location. It will include two large, lofty studios with 13 ft. ceilings. One studio will feature a specially designed lyengar yoga wall, spa-like locker rooms complete with showers and towel service plus a lifestyle boutique and tea bar.

Indianapolis — Simon Property Group has announced the addition of two executives and promotions within its Premium Outlets division.

Milwaukee — Northwestern Mutual, Prudential Mortgage Capital Company and TIAA-CREF have announced that each has provided $283.3 million for a total of $850 million to refinance Tysons Corner Center, the 1.9-million sq.-ft. super regional mall in Tysons Corner, Va., owned by the Macerich Company.

Cincinnati — Phillips Edison & Co. has announced that D.J. Belock has joined the company as senior VP of finance. He will take responsibility for all financial and internal control activities, including planning and reporting, fundraising, investor relations, accounting and risk management.

Bloomington, Minn. — Bruegger’s Bagels will open this week in Mall of America as part of the first phase of the mall’s $2 billion expansion.

The Mall of America opening is another step in Bruegger’s effort to expand into non-traditional venues such as airports, colleges and hospitals. The 1,699-sq.-ft. bakery-café will seat 18 and offer additional seating in the food court.