Retail

Los Angeles -- Grocery chain Fresh & Easy confirmed reports that its British parent Tesco LLC has sold the brand to private equity firm The Yucaipa Cos., following months of uncertainty about the 200+-unit chain’s future.

Fresh & Easy posted on its website Tuesday that more than 4,000 jobs would be saved under the purchase agreement but that some stores will be closing.  Specific stores have not been identified, and the terms of the agreement weren’t disclosed.

 New York - Wayne Kulkin, former vice chairman of Stuart Weitzman, has been appointed CEO of the company, effective immediately. Kulkin will continue to report to Stuart Weitzman, executive chairman of Stuart Weitzman.

"Wayne has been a true partner over the last 23 years,” said Weitzman. “His passion, creativity and business acumen have been essential in driving our growth across diverse channels, and I am confident that Wayne will be equally instrumental in his new role as CEO.”

Hilton Head Island, S.C. — Shelter Cove Towne Centre has signed letters of intent with two new tenants: Heritage Fine Jewelry and Jake’s Wayback Burgers.

A joint venture between Blanchard & Calhoun Commercial and Kroger Real Estate, Shelter Cove is being developed into a destination for Hilton Head residents and the area’s 2.5 million visitors. The project includes plans to redevelop the existing mall into a walking village that will consist of 290,000 sq. ft. of retail space anchored by Kroger and Belk.

San Jose, Calif. — Togo’s Eateries has announced two multi-unit franchise agreements to develop 20 new restaurants in Oregon and California over the next several years.

Togo’s Franchisee Mark Fischer will open 10 restaurants in Portland, Ore., and 10 additional locations in Los Angeles County. The first will open in Portland in the first quarter of 2014.

Fischer and his parterns currently own and operate two California restaurants in Stockton and Tracy, Calif.

Deerfield, Ill. -- Walgreens on Tuesday announced it has acquired North Carolina pharmacy chain Kerr Drug. The purchase of the privately held regional outfit, which generated $381 million in revenue in 2012, includes its 76 retail stores and specialty pharmacy chain.

Warrendale, Pa. – Two independent proxy voting advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both recommended that rue21 shareholders vote for a proposed acquisition by Apax Partners. As previously announced on May 23, 2013, rue21 entered into a definitive agreement under which funds advised by Apax Partners will acquire all outstanding shares of rue21 for $42 per share in cash.

Philadelphia – The Pep Boys - Manny, Moe & Jack has acquired 17 Discount Tire Centers in Southern California from AKH Co. These 17 stores are located throughout the greater Los Angeles market, from Bakersfield to Orange County.

Milford, Conn. – Subway is entering a cross-platform advertising partnership with NBCUniversal for its new interactive game show “Million Second Quiz.” In addition to providing gift cards to contestants during the course of the show, Subway will offer photo opportunities and social media engagements.

Other aspects of the joint campaign will include messaging on Facebook and Twitter, a prize of a year’s worth of foot-long subs via an NBC radio promotion, and a Subway presence in the live stream both online and in the MSQ App.