Cache Names CFO
New York City, Upscale women’s apparel retailer Cache Inc. has promoted Margaret Feeney to executive VP and CFO from her former post as VP, finance, effective immediately. Prior to joining Cache in 1992, Feeney held financial posts at Toys “R” Us and Brooks Fashion Stores, a junior specialty chain.
In earnings news, the retailer said its comp-store sales for the four weeks ended April 30 fell 3%. Total sales for April were $24 million, up 3.9% vs. the same period in 2004.
O’Reilly Auto Agrees to Purchase W.E. Lahr, Midwest Auto
San Francisco, After yesterday’s closing bell on Wall Street, O’Reilly Automotive said it has agreed to buy all of the outstanding stock of W.E. Lahr Co., its Midwest Auto Parts Distributors subsidiary and affiliates for $61 million in cash. The transaction is expected to close by the end of May.
Wal-Mart Honors Thousands of Top Teachers
Bentonville, Ark., Wal-Mart’s 10th annual Teacher of the Year program will recognize more than 3,800 teachers nationwide. As a result of their selection, the schools of the winning teachers will receive $1,000 each from Wal-Mart. In total, Wal-Mart will donate $4.2 million to schools nationwide.
The program is in conjunction with Phi Delta Kappa International, a national professional education association. The winning teachers will be notified this week as part of Teacher Appreciation Week, May 1-7, and in honor of National Teacher’s Day, which is today.