Former Ann Taylor President Brian Lynch has been hired as the new president and CEO of Columbus, Ohio-based tween retailer Justice. Lynch replaces veteran retailer Michael Rayden, who retired at the end of January. Lynch most recently served as president of Ann Taylor Brand and previously served in various executive positions with ANN Inc.; Gap Inc.; Learningsmith Inc.; and The Walt Disney Co.
For Columbus, Ohio-based fashion retailer Express, a continued expansion of outlet stores is a central part of its strategy, executives told analysts this week during a conference call on 2014 earnings. In the year just ended, Express had 600 stores, down from 632 stores from the year before. While about 19 of those stores closed, others were converted into outlet locations. Express has about 41 outlet locations now and ultimately plans to have as many as 150 of the lower-priced stores in the next few years.
Express Chief Executive Officer Michael Weiss, who has run the business since it was an eight-store experiment by Limited Brands in 1980, is passing the reins to President David Kornberg next year. Weiss will stay on as nonexecutive chairman after Kornberg takes the CEO job on Jan. 30, the Columbus, Ohio-based company said yesterday in a statement. Weiss, 73, had previously retired in 2004, though he returned in 2007 when the business was acquired by Golden Gate Capital Corp. The management change comes at the same time as a possible takeover fight.
Sycamore Partners, a private-equity firm that focuses on retail investments, said it's interested in acquiring the struggling clothing chain Express after amassing a 9.9 percent stake in the company. In a letter to Express’ board, Sycamore said it would like to perform due diligence to determine a price for the retailer. The investment firm said it would submit a bid within 30 days of getting access to Express’ books. Shares of the clothing chain, which had a $1.14 billion valuation at the close of trading today, surged as much as 33 percent after hours.
Jewelry retailer Ross-Simons has launched a new luxury brand called Sidney Thomas. The company enlisted Columbus, Ohio-based Chute...
Columbus, Ohio – DSW Inc. experienced a successful third quarter of fiscal 2013, with net income and total sales both rising from the same period in the previous year. Net income equaled $55 million,...