Retail Briefs
By Staff -- Home Textiles Today, 3/27/2006
Sears Recruits Home Exec St. Aubin
Home furnishings retailing veteran executive Bob St. Aubin has joined Sears as vp in the home fashions division.
Most recently senior vp at May Department Stores in the home proprietary brands division, he earlier was with Liberty House, now part of Macy's, and the former Pacific Linens. Sears officials declined to specify St. Aubin's duties.
Sears Buys Bigger Sears Canada Share
Sears Holdings' wholly owned subsidiary SHLD Acquisition Corp. has acquired about 10% of Sears Canada, bringing the total Sears Holdings share to about 63% overall.
The expiration date of the main Sears Canada takeover offer was extended to 8 p.m. on March 31. The price for that tender remains at C$16.86.
Danish Investor Buys Pier 1 UK/Ireland
Pier 1 Imports has sold its United Kingdom and Ireland operating division to Dutch retail investor Jakup a Dul Jacobsen for approximately $15 million, Pier 1 said. Two months ago, Jacobsen purchased 9.9% of Pier 1. Through his Iceland-based Lagerinn, Jacobsen acquired The Pier Retail Group, which operates more than 40 Pier 1 stores and concessions in the United Kingdom and Ireland.
