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Aaron’s acquires Progressive Finance Holdings
Atlanta -- Aaron's Inc. has acquired Progressive Finance Holdings LLC, a merchandise lease-to-own company, from Summit Partners in an all-cash transaction valued at approximately $700 million. Aaron's expects the transaction to be double-digit accretive to cash earnings per share in 2014 and significantly more accretive in 2015.
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Banana Republic has a new creative director and EVP of design
Gap’s Banana Republic brand has named Marissa Webb as creative director and EVP of design, effective April 28. She will report to global president of Banana Republic, Jack Calhoun.
Webb will be responsible for guiding the brand’s overall creative direction, as well as leading global product design for Banana Republic Women’s, Men’s and Accessories.