Finance & Capital Management

Boca Raton, Fla. -- Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.

Terms were not disclosed.

Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB.

"We've been successful in this market and see continued growth and high potential in the region," said Charlie Brown, president of Office Depot's international division, said in a statement on Tuesday.

Pasadena, Calif. -- Disney Store will open more than 25 new and remodeled locations around the globe in 2011. The stores will feature the company’s updated store design, which features an array of interactive and immersive experiences. The company ultimately plans to transform all its 350+ locations to the new concept.

“Guests told us that we brought the magic back to Disney Store with the launch of our new design, and they responded by staying in the stores longer and purchasing more,” said Jim Fielding, president, Disney Stores Worldwide.

NEW YORK -Tiffany & Co. announced that James Quinn will retire in early 2012. Quinn joined Tiffany in 1986 and has served as president since 2003, responsible for the company’s sales outside the Americas.

Foothill Ranch, Calif. -- Specialty apparel retailer Wet Seal announced that it has entered into an employment contract with Susan McGalla to serve as its new CEO through Aug. 8, 2014. McGalla will assume her position as CEO on Jan. 18. Ed Thomas will remain as interim CEO until Jan. 18, and thereafter will remain employed by the company until Feb. 8, to assist with transition.

Dallas -- Zale Corp.’s same-store sales rose 8.5% during the November-December selling period. This figure is a key indicator of a retailer's health because it gauges results at existing stores instead of newly opened ones.

Zale is refocusing its merchandise on diamonds and stepping up training of its workers, said CEO Theo Killion in a Bloomberg report. The company increased the number of salespeople certified by the Diamond Council of America to 2,000, from 800 last year, and plans to add more, he said.

El Segundo, Calif. -- Fresh & Easy Neighborhood Market on Wednesday said it will open its first stores in Northern California in March and April, with the first two scheduled to open March 2 in San Jose and Danville. Nine additional locations are scheduled to open in the area within the two-month time frame.

Fresh & Easy also said it also plans to open two stores in San Francisco early this year.

ATLANTA - The Home Depot announced that Aaron Carmack has been promoted to president, The Home Depot Canada, effective Jan. 31.  Carmack, the current regional VP of the Pac North region in the U.S., is replacing Annette Verschuren, who is leaving the company after nearly 15 years of service.

New York City -- Twenty-three Kmart stores in Illinois and three other markets are testing financial centers where shoppers can cash checks, pay bills, place money orders and transfer money, according to Chicago Breaking Business.

A Kmart spokeperson declined to comment on whether a bigger roll out is planned, or what the retailer has learned so far from its test, the report said.

Seven of the Kmart stores are in Illinois, 10 are in Los Angeles, five are in Puerto Rico and one is in Wisconsin.