REAL ESTATE

Krispy Kreme plans Southern California expansion

BY Michael Fickes

Winston-Salem, N.C. – Krispy Kreme has signed a development agreement with existing franchisee Great Circle Family Foods, LLC, to develop 20 new doughnut shops in Southern California during the next seven years. A Krispy Kreme franchise partner since 1998, Great Circle Family Foods currently operates 11 Krispy Kreme shops in Southern California.

The planned shops are expected to feature Krispy Kreme’s new small factory design, including a drive-thru.

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FINANCE

Eminence Capital nominates two Jos. A. Bank board members

BY Dan Berthiaume

New York — Eminence Capital, which owns 4.9% of the common stock of Jos. A. Bank Clothiers and has been pushing for a deal between the retailer and rival Men’s Wearhouse, has nominated two industry veterans for election as directors to the board at Jos. A. Bank’s annual meeting. The nominees include: Bruce J. Klatsky, former chairman of Phillips-Van Heusen Corporation, a position he held from 1994 until June 2007, and Norman S. Matthews, former president of Federated Department Stores and active and former board member of other retail and consumer companies.

"We are very pleased that these two highly experienced retail executives have agreed to stand for election as independent directors at the 2014 meeting of Jos. A. Bank shareholders,” said Ricky C. Sandler, CEO of Eminence Capital. “Their knowledge and success in the retail industry as well as their commitment to maximizing shareholder value have been clearly evident throughout their long and distinguished careers.”

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REAL ESTATE

Sam’s Club opening two new stores on Jan. 23

BY Dan Berthiaume

Bentonville, Ark. – Sam’s Club plans to open new stores on Thursday, Jan. 23, with a location in Warwick, R.I., and one will open in Mooresville, N.C.

Both stores will measure approximately 136,000 sq. ft. and feature a fresh bakery, a tire and battery center, and a café. A pharmacy and a hearing aid center are open to both members and the general public. The Mooresville store also offers the Click N Pull personal shopping service, as well as a fuel station.

Sam’s Club has hired 140 new associates to staff the new Warwick store and 160 to staff the new Mooresville store.

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