Consumer Affairs & Relations

New York City -- A report released Monday by Bloomberg said that J. Crew Group’s $10 million settlement of an investor lawsuit over the proposed takeover by private-equity firms TPG Capital and Leonard Green & Partners LP has fallen apart.

Citing a lawyer for the shareholders, the report said that J. Crew officials undermined a deal in which the clothier agreed to extend the period to solicit competing offers to the $3 billion buyout bid. The accord also included a $10 million payment to plaintiffs.

Washington — U.S. consumer spending rose more than expected in December as Americans spent at the fastest pace in three years. The Commerce Department reported that spending rose 0.7% in December, the sixth straight monthly increase.

For all of 2010, consumers boosted spending 3.5%, the best performance since pre-recession 2007, when spending rose 5.2%. The government reported that consumer spending rose at a 4.4% rate in the final three months of 2010.

MINNEAPOLIS – Target announced that on Feb. 2 it will celebrate the opening of the newly renovated library at the George Peabody Elementary School. The renovation was made possible with the help of The Heart of America Foundation and the NFL Players Association.

Target took the 21st spot out of a list of 46 retailers ranked for their customer service. Zappos.com took the top spot followed by Amazon.com and LL Bean. Walmart was ranked 27.

Other retailers in the top ten include Overstock.com (4), JCPenney (6) and Kohl's (7).

New York City -- The Home Depot  has closed its last store in Beijing, highlighting the difficulties that some western companies face when trying to transplant foreign business models into China.

Home Depot, which has closed five stores on the mainland in the past two years, is struggling to find the right business format for one of the world’s most difficult home-improvement markets, local analysts said.

ITASCA, Ill. -- Jewel-Osco, a Supervalu-owned company, announced that Keith Nielsen, Jewel-Osco president, has informed the company of his retirement effective at the end of the fiscal year (Feb. 28).

Nielsen’s successor will be Brian Huff, SVP specialty retail for Supervalu. Huff will transition into the position beginning Feb. 7. All operations and business strategies will continue as normal.

Canton, Mass. -- Dunkin' Donuts has signed agreements with four franchisees to develop 16 restaurants in Tampa, Orlando and Tallahassee over the next several years.

Dunkin' Donuts development throughout Florida is part of a steady and strategic growth strategy, which includes expanding in existing markets while entering new cities across the country.

Seattle -- Starbucks Corp. reported that its first quarter net income rose nearly 44%, beating expectations, to $346.6 million in the period ended Jan. 2. That's up from $241.5 million a year earlier. Although the company expects its base of customers to keep growing, it offered a tepid full-year forecast, saying higher commodity costs could eat into its profit.

Revenue rose nearly 8% to $3 billion. Same store sales rose 7%, driven by a 5% boost in traffic and 2% higher average transaction. The figure rose 8% in the United States and 5% abroad.