Corporate Governance

Sherman Oaks, Calif. -- Brand management company Cherokee Inc. said Thursday that it has acquired the Liz Lange Maternity and Completely Me brands from LLM Management Co., an affiliate of Bluestar Alliance, for about $14 million, effective Sept. 4.

Little Rock, Ark. -- Dillard’s said Thursday that it has appointed Chris Johnson as its VP real estate. He succeeds James Cherry, Jr., who retired in December.

Johnson, a CPA, was previously VP of accounting for the department store retailer.
 

Minneapolis -- Supervalu announced Wednesday it will close about 60 underperforming or nonstrategic stores in fiscal 2012. The closings include 22 Save-A-Lot locations, 27 Albertsons stores, four Acme stores and one previously announced Jewel-Osco.

The majority of the stores are expected to close before Dec. 1, which marks the end of the company’s fiscal 2013 third quarter.

Same store sales increased 5.1% at Dollar General during the second quarter and the company remains on track to open more than 600 new stores this year.

Sales increased 10.4% to $3.95 billion during the second quarter ended August 3, thanks to the combination of same store sales growth and the addition of new stores. Net income increased 47% to $214 million in the second quarter compared to $146 million the prior year and earnings per share increased 52% 64 cents, inline with analysts’ consensus estimated, compared to 42 cents the prior year.

PHILADELPHIA — Former A.C. Moore CFO, David Stern, will join Pep Boys as EVP, CFO, effective Sept. 10, where he will oversee the finance function, as well as technology and corporate development.

MENOMONEE FALLS, Wis. — Kohl’s reaffirmed its green reputation with the announcement that it will expand its electric vehicle (EV) charging station initiative with 36 new stations across 18 additional Kohl’s locations by the end of fall 2012. The expansion spans three new states, including Illinois, Indiana and Wisconsin and adds additional locations to the company’s Texas EV program. With the expansion, Kohl’s shoppers will be able to take advantage of a total of 101 charging stations at 52 Kohl’s locations across 14 states.

CAMP HILL, Pa. — Rite Aid posted a 0.4% increase in same-store sales for the month of August, the retail pharmacy operator said Wednesday.

The increase included a 2.4% increase in front-end comps and a 0.6% decrease in pharmacy comps. Total store sales for the five-week period that ended Saturday were roughly $2.41 billion, a 0.4% decrease from last year's $2.414 billion. Same-store prescription count increased by 4.5%.

PLEASANTON, Calif. — Safeway on Wednesday announced that it plans to file a registration statement in the United States for a potential initial public offering of a minority ownership stake in Blackhawk Network Holdings, a leading prepaid payments network.

Costco co-founder and former CEO Jim Sinegal appeared on CNBC Wednesday morning to offer a preview of his speech last night at the Democratic National Convention and explain why he supports the re-election of president Barack Obama.

FORT WORTH, Texas — Cetaphil, a brand of cleansers and moisturizers, announced that it is partnering with Camp Wonder, an initiative of the Children's Skin Disease Foundation. Cetaphil will sponsor the organization by donating a portion of the proceeds of a special edition moisturizing cream, available exclusively at Walgreens. The brand is also granting $100,000 to fund camp activities and more. The official partnership kicked off in June, to coincide with the annual Camp Wonder.