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Former Steinhoff leader found dead after massive fine levied

Inside Retail

Jooste, aged 63, was charged for making false and misleading Steinhoff’s financial statements between 2014 and 2017, according to the Australian Financial Review (AFR). Steinhoff revealed holes in its accounts in December 2017, the first sign of an accounting fraud that led to the near-collapse of the retailer, Reuters reported.

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Nordstrom Names Ex-Target and Walmart CFO to Top Financial Post

Retail TouchPoints

Smith brings extensive experience in retail finance posts, including serving as CFO at Walmart from 2010 to 2014 and at Target from 2015 to 2020. At Nordstrom, Smith will be responsible for financial planning and analysis, accounting, tax, internal audit, treasury, investor relations and strategy sourcing.

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Private equity stalks Boost, Betty’s Burgers parent

Inside Retail

Bain invested $185 million to take a controlling interest from founder Janine Ellis in 2014. The Betty’s Burgers part of the business now accounts for 56 per cent of the parent company’s sales, overtaking the original core earner Boost, which accounts for 35 per cent, according to data sourced by The Australian.

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Bain Capital sells Boost Juice, Betty’s Burgers parent

Inside Retail

Its burger chain business Betty’s, which accounts for 56 per cent of the company sales, has grown from eight stores to 54 over the past five years. Bain Captial bought a major stake in Retail Zoo in 2014 for about $185 million from The Riverside Company.

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Dollar General Promotes New President and CFO Following Strong Quarter

Retail TouchPoints

He will add responsibilities for the company’s strategic healthcare initiatives and its international expansion to Mexico to his existing finance, accounting, strategy and procurement functions. Garratt joined Dollar General in 2014 as SVP of Finance and Strategy and has served as EVP and CFO since December 2015.

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Canadian plant-based restaurant chain Copper Branch heads Down Under

Inside Retail

“Not only are we confident that guests will enjoy an exciting new plant-based experience, but we have carefully tweaked the menu to ensure we account for the local tastes of the Australian and New Zealand markets,” he said.

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Lego Plans $1.4 Billion Sustainability Investment Over Next 3 Years

Retail TouchPoints

They are holding us to account, and we must set ambitious goals and take meaningful and lasting actions to protect their futures.” Lego plans to continue working with suppliers via its Engage-to-Reduce program, established in 2014, to cut emissions.

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