Stage Stores names president, COO of South Hill division
Houston — Stage Stores announced that Mike Searles has joined the company as president and COO of its South Hill Division, which is headquartered in South Hill, Va.
Searles will be responsible for all operations of the South Hill Division, including merchandising, planning and allocation, and store operations. He has served as chairman and CEO of Wilsons Leather Stores, and Factory 2-U Stores, in addition to holding senior executive level positions at several other national retail chains.
BJ’s shareholders OK acquisition
Westborough, Mass. — BJ’s Wholesale Club said Friday that its shareholders have OK’d the acquisition bid that will take the company private.
Private equity firms Leonard Green & Partners and CVC Capital Partners agreed to acquire the warehouse club operator in a deal valued at $2.8 billion.
According to BJ’s, 72% of its shareholders approved the bid. The deal is slated to close on or about Sept. 30.
Sears appoints supply chain head
Hoffman Estates, Ill. — Sears Holdings announced that Raj Penkar will be joining Sears Holdings on Sept. 15 as senior VP and president, supply chain. He will be accountable for all aspects of the company’s supply chain, including logistics, warehousing, inventory management and distribution.
Penkar joins Sears Holdings following a successful 24-year career at UPS, where he most recently served as president of UPS’ customer solutions division.