Goodlettsville, Tenn. — Dollar General has opened its 17,000th store in Fountain, Colo. Dollar General opened its first store in Colorado in 2006 and currently employs more than 500 individuals in the state through approximately 60 store locations. DG was originally founded as a wholesale venture in 1939 by J.L. Turner and Cal Turner, Sr. The father-and-son duo pioneered the “dollar store” concept in 1955 with the opening of the first Dollar General store in Springfield, Ky. Today, DG is comprised of 17,000 company-owned retail locations and more than 25 …
retailers
New York City — Tapestry, Inc., a leading New York-based house of modern luxury accessories and lifestyle brands (Coach, Kate Spade, Stuart Weitzman), has appointed Joanne Crevoiserat as chief executive officer. She had served as the company’s interim CEO since July 2020, after having joined the company as chief financial officer in August 2019. Before that, she was executive vice president and chief operating officer of Abercrombie & Fitch. “After completing a comprehensive internal and external search, the board unanimously concluded that Joanne is the best candidate to lead Tapestry’s …
Menomonee Falls, Wis., and San Francisco — Sephora will debut at least 850 “Sephora at Kohl’s” locations within Kohl’s stores by 2023, the San Francisco-based cosmetic company announced. The locations will span 2,500 square feet and will typically be situated near the front of each Kohl’s. Sephora at Kohl’s shops will replace Kohl’s current in-store beauty assortment. Exterior signage at locations that feature the in-store shops will display both Kohl’s and Sephora branding. These locations will be selected based on existing Sephora store proximity, market opportunity and customer insights. Menomonee …
Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540 Million
by Katie Lee
New York City and Mahwah, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah, N.J.-based Ascena Retail Group for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of …
Union, N.J. — Bed Bath & Beyond Inc. has named John Welling as senior vice president (SVP), merchandise planning, allocation & operations, effective immediately. Welling will report to Joe Hartsig, Bed Bath & Beyond’s chief merchandising officer (CMO), and president of Harmon Health & Beauty Stores. Welling will be responsible for helping lead the transformation of Bed Bath & Beyond’s inventory planning and replenishment strategy, a core pillar in the company’s strategic growth plan. This includes implementing enhanced merchandising processes and inventory systems to improve in-stock levels and turn times, …
Gap Inc. Appoints New Chief Growth Officer and New President and CEO of Banana Republic
by Katie Lee
San Francisco — Gap Inc. has hired Asheesh Saksena to join the Gap Inc. senior leadership team as chief growth officer, a newly created position that will focus on executing the company’s strategic agenda, as well as leading growth initiatives for the future. In addition, the company also named Sandra Stangl as the new president and CEO of Banana Republic. Saksena most recently served as president of Best Buy Health where he led the formation and operation of the brand’s strategic diversification into digital health after serving as the company’s …
Guitar Center Files for Chapter 11 Bankruptcy Protection, Hires A&G to Evaluate Store Footprint
by Katie Lee
Westlake Village, Calif. — Musical instrument retailer Guitar Center has filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the Eastern District of Virginia. The Westlake Village-based company did not announce plans to close any of its 297 stores, but it has retained A&G Real Estate Partners to explore opportunities for its real estate portfolio. In court filings, Guitar Center cited its business of instrument purchases, rentals, repairs and music lessons suffered amid the upheaval stemming from government-mandated shutdowns in response to the COVID-19 pandemic, according to The …
St. Louis — Construction is complete on two new $1.2 million Jiffy Lube centers in Sycamore and Springfield, Ill. Knoebel Construction served as the general contractor for the 3,500-square-foot automotive service centers and completed all of the pre-construction site work. Knoebel has been selected to build six additional Jiffy Lube locations in four Midwestern states for Stonebriar Auto Services, a Jiffy Lube franchisee. Those locations in Cape Girardeau, Mo.; Nixa, Mo.; Lake Hallie, Wis.; Manitowoc, Wis.; Jeffersonville, Ind.; and Machesney, Ill., and will complete in early 2021. Each location features …
Vancouver, B.C. — Foot Locker has opened its first Canadian community power store in Vancouver, British Columbia. A second community-based power store will open in Toronto, Ontario, in early December. The Vancouver and Toronto locations follow successful openings of power stores in Detroit, Philadelphia, New York, London, Compton, Calif., Liverpool and Hong Kong. “We are so excited to bring our power store model to Canada over the next two months,” says Richard McLeod, vice president of marketing for Foot Locker, North America. “Although the shopping experience is different with current guidelines, …
Houston — Francesca’s Holdings Corp. will close 140 stores throughout the country by Jan. 30, 2021, the Houston-based women’s apparel and accessories retailer announced on Nov. 16. According to The Wall Street Journal, the 140 shuttered stores represent about 20% of the company’s total store count. Francesca’s also said that if the company is unable to raise sufficient capital to continue funding operations and paying obligations, it will likely seek to restructure its debt load by filing for Chapter 11 bankruptcy. Francesca’s stock price opened at $3.53 per share on …