FINANCE

Law firms investigate Jones Group purchase

BY Dan Berthiaume

New York – At least four law firms are investigating the pending purchase of The Jones Group. The law office of Brodsky & Smith, LLC, Vincent Wong, Farugi and Farugi, LLP and Robbins Arroyo LLP are investigating potential claims against the board of directors of The Jones Group, Inc. relating to the proposed acquisition by Sycamore Partners.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the board of directors of The Jones Group for not acting in the company’s shareholders’ best interests in connection with the sale process. The investigation seeks to determine if The Jones Group board of directors failed to conduct an adequate auction process and whether Sycamore Partners is underpaying for The Jones Group shares.

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FINANCE

Hhgregg CFO resigns, interim named

BY Dan Berthiaume

Indianapolis – Jeremy J. Aguilar has resigned as CFO and secretary of Hhgregg, effective Jan. 31. Andrew S. Giesler, senior VP finance, has been appointed to serve as interim CFO and secretary from Jan. 31 until a full-time replacement is named.

Giesler, 36, has served the company in several roles since joining in May 2007, including senior VP finance; VP finance; VP controller and director of finance and investor relations. Aguilar is leaving to take a similar role at another company.

“I would like to thank Jeremy for his leadership and many contributions to Hhgregg during the past eight years,” said Dennis May, president and CEO of Hhgregg. “Jeremy has been an instrumental member of our leadership team and helped support the growth of the company’s store base as we work toward becoming a national retailer. We are fortunate to be making this transition with a deep and experienced finance team in place.”

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DealYard makes e-commerce site more customer-friendly

BY Dan Berthiaume

Westbury, N.Y. – Online discount retailer DealYard has optimized its site in a customer-friendly way, using personalized recommendations that are provided by CRM vendor 4-tell. In addition, users will receive ideas on what to add next, a feature provided by VeInteractive.

Some of the new technologies that the DealYard team has integrated into a user’s shopping experience include solutions that deliver personalized recommendations via online and email, as well as promotional offers during checkout. DealYard is also now working with other online retailers, such as eBay and Amazon, to continue expanding its offering globally. DealYard is also expanding to an international customer base that extends to countries including Canada, Germany, and New Zealand.

"I’ve long held that DealYard is the sum of its parts,” said Rob Heller, CEO of DealYard. “We’re all working together every day to make it even better. And part of acknowledging the spirit of teamwork is collaborating with smart new technologies and incorporating them into our own website."

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