The Pep Boys names CFO
Philadelphia — The Pep Boys has named David Stern as executive VP, CFO, effective Sept. 10. He will oversee the finance function, as well as technology and corporate development.
Stern most recently served as executive VP, chief administrative officer and CFO for A.C. Moore Arts and Crafts. Prior to that, he held roles at Coldwater Creek.
Report: Hudson’s Bay planning IPO
New York — Hudson’s Bay Co., owner of the Lord & Taylor and The Bay chains, plans to file for an initial public offering, according to The New York Times.
A listing, which is expected to be on the Toronto Stock Exchange, could come this fall, before the end of November, the report said, with as much as 20% of the company being sold to the public.
Retalix acquires Cornell Mayo Associates
Dallas — Retalix Ltd., a leading global provider of software and services for high-volume, high-complexity retailers, announced that it has acquired Cornell Mayo Associates, a leading provider of store systems serving top tier department stores and large specialty retailers.
Cornell Mayo, which is deployed in nearly 4,000 stores, primarily in North America, will become a Retalix business unit and Retalix’s center of excellence for the department store retail segment. Gene Cornell, its founder, will continue to lead the business, which will retain its name.
“This acquisition is yet another demonstration of Retalix’s strong focus on executing its strategy and is an additional milestone towards the realization of our long-term business goals,” says Shuky Sheffer, CEO of Retalix. “Retalix will benefit from Cornell Mayo’s deep domain expertise and long-standing relationships with top tier retailers, including such household names as Saks Fifth Avenue, Belk, Stage Stores and Barnes & Noble.”