Arden Group acquisition attracts possible lawsuits
Compton, Calif. – Numerous law firms have launched investigations into the board of directors of Arden Group, Inc. to determine possible breaches of fiduciary duty and other violations of state law in connection with the sale of the company to the investment firm TPG.
The investigations concern whether the Arden Group board of directors breached their fiduciary duties to stockholders by failing to adequately shop the company before agreeing to enter into this transaction, and whether TPG is underpaying for Arden Group shares. At least eight law firms have announced investigations into Arden Group, parent of the 17-unit Gelson’s grocery store chain.
HH Gregg searches for new CFO
Consumer electronics retailer HH Gregg is looking for a new chief financial officer after Jeremy Aguilar resigned from the company to accept a similar role elsewhere.
Aguilar spent eight years with the Indianapolis-based operator of 228 stores. His resignation is effective as of January 31 at which time SVP of finance Andrew Giesler will assume CFO responsibilities on an interim basis.
“I would like to thank Jeremy for his leadership and many contributions to HH Gregg over the past eight years,” said HH Gregg president and CEO Dannis May. “Jeremy has been an instrumental member of our leadership team and helped support the growth of the company’s store base as we work toward becoming a national retailer. We are fortunate to be making this transition with a deep and experienced finance team in place.”
Interim CFO Gieseler joined HH Gregg in 2007 and has held several finance roles at the company. In addition to his current position, Giseler served as vp of finance, controller and director of finance and investor relations.
According to May, “Andy Giesler is a talented and experienced finance executive and I am confident he will lead the transition effectively. The company continues to pursue its key business strategies and Andy has been and will continue to be an important part of my team.”
Weather Trends: January 2014
January 2014 is projected to be the coldest in three years for the U.S. as a whole. The storm track, which will favor the milder and wetter Pacific, will be driven inland across the West with storms moving into the Plains and then heading into the Great Lakes or re-developing off the New England coast. This pattern will produce colder trends across the East Coast, but there will be short warm-ups ahead of the storms that will help to keep average temperatures near normal. Snow and ice will be much more likely across the East, northern Plains and higher elevations of the West compared to last year. Cooler weather trends across much of the East will help to drive winter apparel and hard line categories up compared to last year. Snow categories will be stronger in all the typical markets, especially around Chicago. A stormier pattern will lead to reduced store traffic, but TV viewership and online sales will increase as consumers opt to stay indoors during inclement weather.
Weather Trends International offers year-ahead business weather forecasts and intelligence to hundreds of major retailers, suppliers, and we also support many commodity/energy traders. We offer an unparalleled competitive advantage by helping our clients proactively plan for the weather up to a year in advance. For more information on what we can do for you, please contact Jack Grum [email protected] or call 610-807-0118.