FINANCE

Francesca’s taps Men’s Wearhouse CFO as new president

BY Katherine Boccaccio

Houston — Francesca’s Holdings Corp. announced Monday that it has appointed Men’s Wearhouse CFO Neill Davis to its newly created position of president. Both companies are based in Houston.

Davis, a 15-year executive of Men’s Wearhouse, has been a board member of the apparel and accessories chain for the past five years. He will officially become Francesca’s president on Aug. 6.

Men’s Wearhouse chief accounting officer and executive VP Diana Wilson will step in to the CFO role on an interim basis, said the company. VP finance and accounting Kelly Dilts will fill Wilson’s role of chief accounting officer.

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STORE SPACES

Conversion underway for Genuardi’s stores in Philadelphia area

BY Allison Cerra

Carlisle, Pa. — Ahold subsidiary Giant Food said it has commenced its conversion of 15 former Genuardi’s stores. The announcement follows FTC approval of Giant Food’s plan to acquire 15 Genuardi’s stores, located in the greater Philadelphia area, from Safeway.

During the conversion process, five stores at a time will temporarily close for about a week. The three-phase staggered approach is expected to be completed on July 22.

"During the three weeks of conversion, we will strive to minimize the amount of disruption to our customers," Giant Food Stores president Rick Herring said. "Giant is committed to this multi-million dollar investment to improve the overall shopping experience in these 15 stores to meet the quality, selection and savings that customers have come to expect from Giant."

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STORE SPACES

Johnny Rockets inks deal to open 30 restaurants in Brazil

BY Katherine Boccaccio

Aliso Viejo, Calif. — Johnny Rockets said Tuesday it has finalized a franchise agreement with restaurant entrepreneur Antonio Augusto Ribeiro de Souza to open 30 restaurants in Brazil.

This news follows recent announcements of the chain’s new franchise agreements in Peru and Ecuador, as well as the opening of its second restaurant in Chile and its first in the Dominican Republic.

Augusto is a former McDonalds franchisee, and currently operates Well’s restaurants in Sao Paulo. He said he plans to open his first Johnny Rockets restaurant in Sao Paulo in late 2012 or early 2013, with additional locations soon to follow.

"With more than 205 million residents – nearly 20 million in Sao Paulo alone – Brazil represents a tremendous audience for Johnny Rockets," said Steve Devine, president of Johnny Rockets international division. “The timing couldn’t be better for us to enter this growth market with our unique all-American dining experience."

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