Jewelry Chain to Change Name
Portland, Ore. Littman Jewelers stores throughout Tennessee will change their name to Fred Meyer Jewelers, effective Wednesday, Feb. 11.
The name change will coincide with the grand opening of two new Fred Meyer Jewelers in Tennessee during the coming months.
Fred Meyer Jewelers also announced plans to open 15 stores nationwide during 2009.
Littman Jewelers and Fred Meyer Jewelers have been sister companies for the past 10 years since Littman Jewelers was acquired by Fred Meyer Jewelers in 1998.
Murray resigns from Cabela’s board
SIDNEY, Neb. Cabela’s announced that Stephen Murray resigned from the board of directors effective Jan. 20.
Murray joined the board of directors in December 2005. During his tenure, Murray served as a member of the compensation committee and the nominating and corporate governance committee.
Wal-Mart to own majority stake in largest Chilean food retailer
BENTONVILLE, Ark. and SANTIAGO, Chile Wal-Mart Stores announced that it has successfully completed its tender offer to acquire Distribucion y Servicio D&S S.A., Chile’s largest food retailer.
As a result of the transaction, Wal-Mart will own approximately 58.2 % of the issued and outstanding shares of D&S, including shares represented as American Depository Shares in the United States. Felipe Ibanez Scott and Nicolas Ibanez Scott will collectively retain approximately 40.1% of the shares of D&S, leaving approximately 1.7% held by the public. The tender offer period commenced Dec. 24 and closed at midnight Jan. 22 local Santiago time.
According to Craig Herkert, Wal-Mart EVP and CEO of the Americas, “Partnering with D&S, with its strong brands and its position as Chile’s largest food retailer, is an important step in implementing Wal-Mart’s international strategy. We continue to focus on portfolio optimization, global leverage and winning in every market.”