– DILLARD’S REEVALUATES: Dillard’s Inc. hired investment banking firm Stephens Inc. to help it assess options for its 50 percent stake in CDI Contractors LLC., a construction firm. “Because this process will touch on all scenarios and a transaction may not even result, the company does not plan to issue additional public statements,” said a spokeswoman. Dillard’s restated earnings last month after it discovered accounting problems at CDI. In January, CDI’s chief financial officer, John Glasgow, disappeared. Last month, activist shareholders Barington Capital Group LP and Clinton Group Inc. demanded, among other things, additional information on the contractor. However, the investors withdrew the demand after Dillard’s agreed to elect some new directors and review its businesses practices.
This story first appeared in the April 21, 2008 issue of WWD. Subscribe Today.
– SEVEN SETS SHOPS: Premium denim label Seven For All Mankind has settled on locations for its next six stores, and has brought on a new hire to ensure all its units maintain a consistent look and feel. Seven, owned by VF Corp., has secured two spaces in New York, in addition to locations in Honolulu, Miami, San Francisco and Malibu, Calif. The label’s first two stores opened in Los Angeles and Dallas in 2007. Dave Corbin has been hired as director of store design and visual merchandising, and will report to Aaron Battista, vice president of retail.