Personnel Updates
• BMC Stock Holdings Inc (50) announced that Michael Neese will join BMC as Senior VP of Investor Relations.
• David’s Bridal (66) has appointed Kelly Cook as Chief Marketing Officer.
• Gap Inc. (202) announced that Art Peck, president and CEO, will step down. Robert J. Fisher, the company’s current non-executive chairman, will also serve as Interim President and CEO while Gap searches for a permanent successor.
• The Six Flags Entertainment Corp. (35) announced that it has appointed Mike Spanos as President and Chief Executive Officer effective November 18, 2019, and as a member of the Board of Directors effective immediately. Jim Reid-Anderson, Chairman, President and CEO, will resign as a director and an officer of the company effective November 18, 2019.
• True Religion Apparel Inc. (42) has appointed Michael Buckley as its new CEO.
Mergers and Acquisitions
• Bristol Luxury Group LLC announced that it acquired Sugarfina, LLC. It will be closing six of its locations.
• Higginbotham Bros. & Co. LLC announced that it has entered into a definitive agreement to acquire White’s Ace Building Center with locations in Shawnee and Seminole, Ok. They will now operate hardware stores, lumberyards, and building centers in Texas and Oklahoma.
• Tech Data Corporation announced it has entered into a definitive agreement to be acquired by Apollo Global Management, Inc. The transaction is expected to close in the first half of calendar year 2020. Rich Hume will continue to lead Tech Data as Chief Executive Officer, and the company will continue to be headquartered in Clearwater, Florida.
Industry Insight
• The Bartell Drug Company announced that it has launched grocery delivery via Instacart.
• James Avery Craftsman Inc. has announced the launch of its first wholesale partnership with Army & Air Force Exchange Service. The retailer opened James Avery kiosks in Fort Hood, TX, and Fort Belvoir, VA.
Real Estate
• Adore Me, Inc. has opened its sixth store at Hamilton Place Mall in Chattanooga, TN. The 7,000 sq. ft. store is the company’s largest location to date.
• Benjamin Moore & Co. opened a new 238,000 square foot distribution center in Lewisville, TX.
• Transformco will close another 96 Sears and Kmart stores, leaving the chain with a total of 182 locations. Store-closing sales will start in December, with the locations expected to close by February.
• Williams-Sonoma, Inc. opened a new West Elm store at the Rookwood Commons lifestyle center in Cincinnati. The 11,900 sq. ft. store is the company’s first in Cincinnati and its 10th in Ohio.
Technology News
• Meijer Inc. is pioneering a new strategy to move soon-to-expire products off shelves. Meijer is testing the Flashfood app at a handful of its metro Detroit supercenters that allows customers to purchase food nearing its best-buy date at a reduced price.
• Microsoft Corporation and Salesforce have expanded their strategic partnership. Salesforce named Microsoft Azure as its public cloud provider for Salesforce Marketing Cloud to help customers scale and grow. Microsoft has also launched a strategic partnership with Allianz SE. The goal of the partnership is to streamline and digitally transform the insurance industry. Through the strategic partnership, Allianz will move core pieces of its global insurance platform, Allianz Business System, to Microsoft’s Azure cloud.
• Sally Beauty Holdings, Inc. has introduced ColorView artificial intelligence technology in its smartphone app and at 500 Sally Beauty locations in the United States. The new technology allows customers to virtually try on a variety of hair colors or makeup before making a purchase.
• Walmart Stores Inc. is partnering with Apple to make its voice order grocery shopping service available on Siri. The service works on iPhone, iPad, Apple Watch, Mac, HomePod, and CarPlay devices.
