Finance & Capital Management

New York -- Loblaw Cos. Ltd.’s acquisition of Shoppers Drug Mart Corp. has been approved by Canada’s Competition Bureau. The $12.4 billion (US$11 billion) deal is expected to close on March 28.

To win approval from the Competition Bureau, Loblaw agreed to sell 18 stores and nine in-store pharmacies.

Family Dollar has named Brian D. Hancock as SVP of supply chain, reporting to chairman and CEO Howard R. Levine.

Matthews, N.C. - Family Dollar Stores Inc. has named Brian D. Hancock to the position of senior VP supply chain. Hancock will report to Howard R. Levine, chairman and CEO.

Monterrey, Mexico -- Tiendas Soriana S.A. de C.V., Mexico’s second largest retail company, and Hanwha Q CELLS, a leading full-service solar power companies, announced a 20-year power purchase agreement for 31 megawatts (MW) of photovoltaic (PV) solar power at 120 retail locations across Mexico that will create significant long-term energy savings for Soriana. Soriana operates more than 640 grocery and department stores.

San Francisco – Private equity firm Golden Gate Capital Corp. disclosed in a regulatory filing that it has purchased a 9.5% ownership stake in Ann Inc., parent of Ann Taylor.  

In a letter to the Ann Inc. board of directors, Golden Gate said it looks forward to working collaboratively with Ann Inc. The company said that it did not plan to seek changes to the retailer’s board or executive team, or to push for a sale

Borderfree is a digital company focused on helping retailers sell to anyone anywhere and last Friday the company sold itself to investor’s by completing an initial public stock offering.

The company priced its offering of five million shares at $16 and enjoyed a 32% pop at the open when shares began trading at $21. The upward momentum proved to be unsustainable and by the close shares had receded to $20, registering a still respectable first day gain of 25%.

New York -- Nordstrom Inc. is delaying the opening of its Nordstrom Rack chain in Canada until 2017, in order to focus its attention on the launch of its full-line department stores there, The Globe and Mail reported.

Nordstrom had initially planned to start opening Rack stores in Canada next year. But the company has decided to focus on  the openings of its six Canadian department stores (the first, in Calgary, is due to open this fall).

Outdoor retailer Cabela’s is bringing its smaller format, next-generation concept to the Indianapolis suburb of Noblesville.

The store isn’t due to open until the fall of 2015 but Cabela’s tends to pre-announce store expansion plans well in advance of actual opening dates as its stores tend to be big news events in the communities where they are located.
Construction is expected to begin later this at Interstate 69 and Campus Parkway in the new Saxony Campus development adjacent to Hamilton Town Center.