News

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.

Walmart has announced plans to launch a smartphone trade-in program on the same day Apple announced the iPhone 5s, featuring an all-new A7 chip and a 64-bit desktop-class architecture for fast performance, as well as the iPhone 5c, which builds on the iPhone 5 and comes in five different colors. 

Mt. Laurel, N.J. - Spencer Gifts, LLC will deploy Retail 20/20 exception-based reporting technology from Agilence. Spencer Gifts plans to use the Retail 20/20 solution to build complex reports and dashboards and obtain near real-time visibility into store operations.

Abercrombie & Fitch has extended its contract with GT Nexus to expand its cloud supply chain strategy and improve visibility into the movement of orders, payments and goods. 

Since 2010, the company has used the GT Nexus platform to support international sourcing and supplier collaboration.

Abercrombie & Fitch operates 1,053 apparel stores in 20 countries across four unique lifestyle brands: Abercrombie & Fitch, Abercrombie Kids, Hollister Co. and Gilly Hicks. The retailer operates distinct e-commerce sites for each of the four brands. 

Oak Brook, Ill. - McDonald's Corporation reported increased same-store sales in all but one segment during August 2013. Same-store sales increased 0.2% in the U.S. compared to the same month in the previous year, and also grew 3.3% in Europe and 1.9% globally.

However, same-store sales in Asia-Pacific, Middle East and Africa (AMPEA) declined 0.5%. McDonald’s cited negative sales results in Japan and China, partially offset by positive results in many other markets and the shift in timing of Ramadan. Systemwide sales improved 2.8%.

NEW YORK — Stuart Weitzman has named vice chairman Wayne Kulkin as the company’s CEO. Kulkin will continue to report to Stuart Weitzman, executive chairman.

As CEO, Kulkin will focus on strategic global expansion and other growth opportunities for the Stuart Weitzman brand. In addition, Kulkin will assist with the selection of an executive team to support the brand's growth initiatives and develop a strategic roadmap for the future of the brand. 

Boston -- Restructuring and investment firm Gordon Brothers Group has acquired oil and gas appraisal company Appraisal Systems, and will use the acquisition to propel the launch of GB Energy Partners.
 
GB Energy Partners combines the energy expertise of Gordon Brothers Group, Emerald Technology Valuations and ASI into one comprehensive appraisal and disposition platform.

NEW YORK — Tiffany & Co. has appointed Francesca Amfitheatrof as the company’s design director. Amfitheatrof will oversee design of all Tiffany product categories.

“Tiffany has a brilliant legacy of legendary style and design. When we combine this legacy with Francesca’s passion for jewelry and craftsmanship we have an exciting opportunity to interpret Tiffany in a new way for the modern, global consumer,” said Michael J. Kowalski, chairman and CEO.