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Mall Operator PREIT Exits Bankruptcy, Goes Private and Replaces CEO

Retail TouchPoints

PREIT Realty has emerged from bankruptcy in an expedited process, reducing its total debt by approximately $835 million , extending its maturity runway and receiving commitments of about $130 million in new debtor-in-possession financing and exit revolver financing from a diverse group of investors. portfolio of 150+ retail centers.

Finance 185
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Chico’s Appoints Company Veteran as New CFO

Retail TouchPoints

Chico’s FAS has appointed David Oliver, SVP – Finance, Controller and Chief Accounting Officer, to the role of EVP – CFO and Chief Accounting Officer, effective June 24, 2023. Oliver has been with Chico’s since 2012 and served in multiple roles, including VP – Finance and Controller and Interim CFO and SVP – Controller.

Finance 230
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Five Below Appoints New COO to Help it Pursue Triple Double Growth Plan

Retail TouchPoints

Bull has been with Five Below for 17 years and has held the CFO and Treasurer positions since 2012. Prior to joining Five Below, Bull served in senior finance roles at other retailers, including Urban Outfitters. “I He has helped develop a culture of discipline and overseen the transition into a publicly traded company.

Planning 261
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RFG settles unconscionable conduct case brought by ACCC

Inside Retail

RFG will compensate franchisees who paid levies into Michel’s marketing fund between 1 July 2012 and 30 June 2017. Payments to compensate franchisees will be based on the purchase price paid for their franchise, less any amounts of outstanding vendor finance loans. Waiving historical debts.

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RFG settles unconscionable conduct case brought by ACCC

Inside Retail

RFG will compensate franchisees who paid levies into Michel’s marketing fund between 1 July 2012 and 30 June 2017. Payments to compensate franchisees will be based on the purchase price paid for their franchise, less any amounts of outstanding vendor finance loans. Waiving historical debts.

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2 Top Target Chiefs Announce Retirement Plans

Retail TouchPoints

During his 27-year tenure with the company, he has held a variety of leadership positions in finance, digital and human resources, including acting as CFO from 2012 to 2015. Mulligan joined Target in 1996 as a financial analyst. Mulligan also served as interim President and CEO of Target in 2014, prior to Cornell’s appointment.

Planning 147
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Scarred by the 2008 Recession and COVID, 48% of Gen Z Frequently Shops at Discount Stores

Retail TouchPoints

As the oldest members of Gen Z move into their mid-20s and the youngest enter their teen years, personal finance concerns are high on their list of worries. That’s according to a recent study by the ICSC that surveyed Gen Z consumers, defined by the Pew Research Center as those born between 1997 and 2012.