Cal Turner Steps Down From Advisory Role
Nashville, Tenn., Cal Turner Jr. is retiring as advisor as to Dollar General’s board of directors at the end of October. Turner is the former CEO and chairman of the company. He stepped down as CEO in November 2002 and as chairman in June 2003. He has been an advisor to the board since then.
Hilfiger Plans New Chain
New York City, Tommy Hilfiger Corp. is reinventing its H Hilfiger label as a high-end lifestyle brand with the goal of becoming a 200-store chain, according to a report in Women’s Wear Daily. The first repositioned H Hilfiger store will open in Tysons Corner, Vienna, Va., in February 2006, followed by units in Dallas and Chicago. The stores will carry both women’s and men’s apparel and accessories.
Wal-Mart Establishes Minority-Business Equity Fund
Bentonville, Ark., Wal-Mart Stores Inc. announced it would invest $25 million to establish a private-equity fund to invest in businesses controlled by women and minorities.
The co-investment management fund will have an allocation life of five years. It will be managed by Dallas-based Aldus Equity.