NO SPIEGEL STOCK: The bankrupt Spiegel Group said Monday it entered into an order pursuant to an “offer of settlement” with the Securities and Exchange Commission, an offer that came about because of a pending investigation by the SEC. Under the terms of the order entered on Friday, the registration of shares of the company’s “Class A” common shares were immediately revoked. As a result, no national securities exchange member or dealer can buy or sell shares of Spiegel. With the revocation of the shares, Spiegel will no longer be required to file annual or quarterly financial statements.
NEW AT NORTH FACE: VF Corp. has promoted two executives at its The North Face division. Steve Rendle, 44, has been named president of the brand for the Americas. He had served as vice president of sales. Todd Spaletto, 32, has filled his old post. Formerly, he had been national sales director for the brand. Rendle reports to Mike Egeck, president of VF’s Outdoor business for the Americas. Spaletto reports to Rendle. Egeck had held the post of president of the North Face brand prior to being promoted to his current role in May.
SURF’S UP: Quiksilver Inc., the California-based surfwear company, has acquired the Paris outdoor specialty chain Andaska. The retailer, which has three stores in the French capital, had filed for bankruptcy protection in a French court. A spokeswoman for Quiksilver said the acquisition will enable the brand to bolster its profile in Paris, where it already operates five stores. Terms of the deal were not disclosed. Quiksilver also operates the Roxy label and bought DC Shoes in March.
ON BOARD: Robert Fisch, president and chief executive officer of Rue 21, the 185-unit specialty chain, has been elected to the board of The Children’s Place and appointed to the audit committee. Before Rue 21, Fisch was president of Casual Corner Group Inc., president and ceo of T.H. Mandy and a senior vice president at Jordan Marsh. Fisch replaces David Oddi, who did not stand for re-election to The Children’s Place board due to time constraints. The Children’s Place operates 711 stores.
This story first appeared in the July 27, 2004 issue of WWD. Subscribe Today.
OP MOVES: Ocean Pacific Apparel Corp. and its master apparel licensee, Ray’s Apparel, have announced a trio of executive hires. Irvine, Calif.-based Op named Todd Juneau to be marketing director, replacing Will Irons, who left the company for family reasons. Juneau oversees overall marketing and advertising functions and reports to Michael Marckx, vice president of marketing and advertising. Ray’s, also based in Irvine, appointed Vyto Palionis to the new position of president of Op’s young men’s and junior division, overseeing product development, domestic sales and distribution. He reports to Ray’s president, Jim Stark. Ray’s also named Michele Carver to the new position of vice president of sales for Op’s junior and girls’ apparel division, overseeing product design, merchandising and sales.