OPERATIONS

Wolverine Worldwide appoints Toys ‘R’ Us exec as president of Stride Rite

BY Marianne Wilson

Rockford, Mich. — Wolverine Worldwide announced the appointment of Ira P. Hernowitz as president of the Stride Rite Children’s Group. He most recently served as executive VP of "R" Us Brands for Toys R Us, Inc.

Hernowitz has served in a variety of leadership roles during his career, and his strong background in children’s products, coupled with his retail expertise.

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FINANCE

Men’s Wearhouse rejects Jos. A. Bank take-over proposal — again

BY Marianne Wilson

Fremont, Calif. — Men’s Wearhouse again rejected a $2.3 billion takeover bid by Jos. A. Bank, refusing to allow it confidential access to its books. Last week, Jos. A. Bank sent a letter to Men’s Wearhouse, hinting that it might raise its proposed takeover offer above $48 a share if it was allowed to conduct due diligence.

In a statement on Monday, Men’s Wearhouse once again reiterated its belief that its own turnaround plan would be better for shareholders.

In a statement, Men’s Wearhouse CEO Douglas S. Ewert said: "Our board and management team are committed to creating value for our shareholders. We are enthusiastic about Men’s Wearhouse’s prospects and are confident that our strategic plan will deliver more value to our shareholders than Jos. A. Bank’s inadequate, highly conditional proposal. We thank our shareholders for the support we have received.

Jos. A. Bank wasted no time in responding to Men’s Wearhouse latest rejection.

"We are disappointed that the board of Men’s Wearhouse has rejected our request for information and thereby chosen not to explore the potential of Jos. A. Bank’s proposal for the benefit of their shareholders," said Robert N. Wildrick, chairman of the board of Jos. A. Bank. "Their board’s position is a matter for consideration by the shareholders of Men’s Wearhouse. For our part, we stand by our previous statement and will keep our proposal open until November 14, 2013."

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News

Von Maur heads to sweet home Alabama

BY CSA STAFF

Von Maur has opened its first location in Alabama, just outside of Birmingham, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is one of the largest locations in the country.

"After opening our first Southeastern location two years ago, we couldn’t be more excited to continue building on our success in the region with the addition of our first Alabama location at Riverchase Galleria," said Jim von Maur, president of Von Maur. "Our combination of beautiful merchandise, customer service and attention to the overall shopping experience will be an excellent addition to the mall. We look forward to becoming one of the go-to shopping destinations for area residents and Birmingham visitors."

Located at the mall’s former Macy’s location, the store underwent a full reconstruction and now features Von Maur’s signature exterior brick façade with arching entryways. The store has an open expansive floor plan. An interactive, life-size tree in children’s is designed to entertain Von Maur’s youngest shoppers, while an antique pub display piece, motorcycle and multiple televisions offer enjoyment in the men’s areas.

"I guarantee the people of metro Birmingham will become avid and loyal shoppers of Von Maur," said Christopher White, marketing manager of Riverchase Galleria. "Not only does the Company offer an exceptional selection of luxury brands, but its attention to customer service and detail will certainly leave shoppers equally impressed. To have such a high caliber department store is without question a great achievement for the mall."

Von Maur was founded more than 140 years ago in downtown Davenport, Iowa. The company currently operates 29 stores in 13 states, along with a 120,000-sq.-ft. e-commerce facility that drives its online business at vonmaur.com.

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