SHUTTERING IN FRANCE: French department store chain Galeries Lafayette has announced plans to close five of its smaller Nouvelles Galeries stores outside of Paris. Some 250 people are expected to lose their jobs. Galeries Lafayette said the stores have been losing money for years and that the smaller French cities have proved unfavorable to the department store concept. The firm operates about 100 stores in France.
UP THE LADDER: Promoting several members of its executive committee, Bloomingdale’s named Bruce Berman executive vice president for finance and operations and chief financial officer, and Frank Doroff senior executive vice president and general merchandise manager for ready-to-wear and the fashion office. Berman was senior vice president and Doroff was executive vice president. Also, Julie Greiner was named senior executive vice president for stores, from being executive vice president; Francine Klein is executive vice president and general merchandise manager for fashion accessories, intimate apparel and cosmetics, and was senior vice president; Tony Spring is senior executive vice president of marketing, restaurants and Bloomingdale’s Direct, from being executive vice president, and David Fisher has been appointed executive vice president and gmm for men’s and Young World, from being senior vice president.
NEW AT CREW: J. Crew Group Inc. named Holly Cohen vice president of real estate, planning and construction, effective May 24. She will report to Amanda Bokman, chief financial officer. Cohen was senior director, real estate, for Gap Inc. She began her career in the apparel industry in 1984 at Accessories Club, a division of Omega Fashion Ltd. In 1989, she became a district manager for the Gap division and in 1994 specialized in real estate for Gap Inc. J. Crew operates 155 retail stores, a catalogue business, jcrew.com and 42 outlet stores.
REVLON’S REFINANCING: As part of its comprehensive debt refinancing, Revlon said Wednesday it intends to sell about $400 million of senior unsecured notes due in 2011 to private institutional investors. Additionally, Revlon said it expects to execute an amended and restated credit facility, which should provide a credit line of approximately $680 million, replacing its extant credit facility.