Red Mango to develop stores in Central America
Dallas — Red Mango said Wednesday it has secured an area development agreement to expand the yogurt chain to Central America.
El Salvador-based Nutrisal will open its first store in San Salvador next month at Plaza Santa Elena. Total unit development plans were not announced.
Former Wal-Mart chief named to CarCharging board
Miami Beach, Fla. — Electric vehicle charging company Car Charging Group said Wednesday that former Wal-Mart Stores president and CEO Bill Fields has been appointed to its board of directors.
Retail veteran Fields has also led Blockbuster Entertainment Group as its chairman and CEO and also served in the same capacity at Hudson’s Bay Co.
Michael Kors to sell 3 million shares
New York — As shares of his company reached an all-time high, fashion designer and retailer Michael Kors will sell 3 million of his shares as part of a secondary offering of 25 million shares, according to a Tuesday regulatory filing.
Kors’ ownership in Michael Kors Holdings Inc. will fall to about 4.8 million shares, or 2.4%, down from 3.9% after the sale.
Michael Kors last week raised its full-year sales and profit forecast after reporting large sales increases over the holiday period, including a 41% rise in same-store sales in North America last quarter.