Gordon Brothers names new CEO
Boston –Gordon Brothers Group announced that Gary M. Talarico joined the firm as president and CEO reporting to the Board of Directors. Michael Frieze will assume the role of chairman, board of directors.
Prior to joining Gordon Brothers Group, Talarico he was managing partner of Cora Street Partners, an advisory boutique. From 2004 to 2009, he was a managing director of Sun Capital Partners.
"We look forward to having Gary join our leadership team. His invaluable experience as an investment banker coupled with his international expertise and overall business acumen will enable him to take over the daily management, growth and integration of our various divisions and affiliates,” stated Michael Frieze. “In particular, Gary has an impressive record of successfully building businesses, including the recruitment and retention of top talent, which will help us strengthen our current business portfolio and expand into new areas that complement our businesses and provide additional services to our clients and transaction partners.”
Walmart to build new supercenter in Maryland
Denton, Md. –Walmart will break ground on a new supercenter in Denton, Maryland, the week of September 19. The 152,888-sq.-ft. store will also feature a Subway.
Walmart currently operates 35 stores and 12 Sam’s Clubs in the state of Maryland.
Naartjie Kids expands into Middle East
Saudi Arabia — Children’s retailer Naartjie Kids said Thursday it opened its first Saudi Arabia flagship store on July 9 in the Riyadh Gallery Mall. The company said six additional Saudi Arabia stores are slated to open this month.
It is the retailer’s first foray into franchising, and will expand its global retail presence beyond the U.S. and South Africa into the Middle East and North Africa. The initial opening of seven Saudi Arabia stores is part of an exclusive multiyear licensing agreement with Fawaz Alhokair & Co. based in Riyadh, Saudi Arabia. The Alhokair partnership includes the opening of an additional 50 plus retail stores by 2015 in the greater Middle East and North Africa regions.
Naartjie Kids will operate 52 wholly owned retail stores in the USA by year end 2011 with an additional 25 stores in South Africa.