Ralph Lauren CFO resigns
New York — Ralph Lauren Corp. said CFO Tracey Travis has resigned to pursue other interests.
Robert Madore, senior VP finance, will assume the role on an interim basis, effective July 30, the company said in a regulatory filing.
Books-A-Million announces withdrawal of acquisition proposal
Birmingham, Ala. — Books-A-Million said its largest shareholder group, the Anderson family, has withdrawn its non-binding offer to take the company private.
The Anderson family, which owns a 53% stake in the chain, had offered $3.05 per share in cash to take the company private in April.
“After discussing the proposal with the special committee of the company’s board of directors and its advisers, the Anderson family has decided not to pursue the proposed acquisition at this time,” the company said in a statement.
Food Lion expands brand strategy
Salisbury, N.C. — Food Lion on Wednesday expanded its new brand strategy to 269 stores in North Carolina and South Carolina. With the expansion, Food Lion has more than 700 locations operating under rebranding, representing more than 60% of its store base.
The new strategy offers customers lower prices on 6,000 items, a greater emphasis on private brands, enhanced produce and an easy and convenient shopping experience, such as faster checkout. To support its new strategy, the company created approximately 800 new jobs.
“We are very pleased with the reaction from our customers since we introduced our new brand strategy,” Cathy Green Burns, president of Food Lion, said in a statement. “During the past year, we have continued to refine the strategy based on additional customer feedback and have made new enhancements for our customers. We look forward to winning new customers and continuing to serve our existing customers with enhanced Food Lion stores in our home markets.”