Corporate Governance

The folks at Echochamber.com, a London-based consultancy, have a knack for rooting out hot retail concepts around the globe. Here’s a recap of the retailers who make up their latest “Top 10 Unmissable New Stores” report:

Chicago -- A study released on Tuesday by BDO USA found that retailers are generally confident that year-end sales will top last year’s. According to the sixth-annual BDO Retail Compass Survey of CFOs, which examined the opinions of 100 leading retail CFOs nationwide, retailers are expecting a 4.5% increase in total 2012 sales.

New York -- The Deloitte Consumer Spending Index, released Tuesday, showed a drop in spending for the second month in a row.

The Index tracks consumer cash flow as an indicator of future consumer spending.

Deerfield, Ill. -- Walgreens on Monday announced that it has completed its purchase of 144 stores operating under the USA Drug, Super D Drug, May’s Drug, Med-X and Drug Warehouse banners located in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee.

The acquisition also includes corporate offices, a distribution center located in Pine Bluff, Ark., and a wholesale and private brand business, for a total of approximately $438 million subject to adjustment in certain circumstances.

Menomonee Falls, Wis. -- Kohl’s Corp. said Tuesday it plans to hire more than 52,700 associates this holiday season, about a 10% increase over last year’s holiday hiring numbers.

Kohl’s said it anticipates hiring an average of 41 associates per store, a 4% increase over 2011, as well as 5,700 seasonal DC positions and more than 30 seasonal credit operations positions.

Hiring began this month, and most jobs will be filled by mid-November, said the retailer.

Deerfield, Ill. -- Walgreens announced Tuesday several senior-management shifts intended to capitalize on its new partnership with Swiss drugstore chain Alliance Boots.

CFO Wade Miquelon is assuming an expanded and global leadership role at Walgreens as executive VP/CFO and president, international, leading a newly named Value Creation Services and International Division.

Commerce, Calif. -- 99 Cents Only Stores said Tuesday it has leased 40 new compressed natural gas powered tractors from Ryder, which will replace diesel burning units with cleaner CNG rigs.

The move is expected to reduce the carbon footprint of the fleet and its CO2 emissions by up to 25%, said Eric Schiffer, CEO.  

The new CNG trucks will operate exclusively in the Southern California market, making store deliveries and picking up goods from vendors.

Dallas -- The Transition Cos. announced Tuesday that Rite Aid has acquired Town Hill Pharmacy, effective August 2012. Transition Cos. served as M&A advisor on the transaction.

Town Hill is an independent retail pharmacy in Eastern Kentucky.

Charlotte, N.C. -- Harris Teeter is currently renovating two locations into a new concept called 201central, which will feature an extensive variety of wine, beer, specialty foods and other general merchandise items. The new format will also feature an array of specialty services, including in-store wine consultants, event coordination and catering as well as party rentals and educational classes focused on wine, beer and food pairings.
 

WOONSOCKET, R.I. — CVS Caremark has appointed Thomas Moriarty as EVP and general counsel of CVS Caremark.

Moriarty most recently served as general counsel at the Celgene, a biopharmaceutical company, where he was responsible for global legal strategy and served on the company's management committee. Prior to that, Moriarty was general counsel and corporate secretary at Medco Health Solutions.