International Business

Chicago -- Commercial real estate services firm DTZ announced that Cassidy Turley and DTZ are now operating as a single global firm following the completion of the acquisition of Cassidy Turley by the private equity investment consortium backed by TPG Capital, PAG Asia Capital and Ontario Teachers’ Pension Plan.

New York -- Brazilian athletic wear retailer Track & Field has opened its second U.S. store, in Brentwood, California. The retailer operates 122 stores in Brazil and opened its first U.S. store, in New York, approximately four years ago. It plans to open about 10 new stores in the United States in 2015 as part of its next phase of growth, according to Women’s Wear Daily.

Just six months after being named chairman and CEO of Target, Brian Cornell is pulling the plug on the retailer’s 133 unit Canadian operation and will incur a $5.4 billion pre-tax loss in the fourth quarter to do so.

Target said it plans to discontinue operating stores in Canada through its indirect wholly-owned subsidiary, Target Canada Co. and that it had filed an application for protection under the Companies’ Creditors Arrangement Act (the “CCAA”) with the Ontario Superior Court of Justice in Toronto.

Grand Rapids, Mich. - Craft Retail Group, part of the U.K.-based Ideal Shopping Direct multichannel retail shopping group, is launching the U.S. broadcast of its Create and Craft shopping network. The network, in partnership with Jo-Ann Fabric and Craft Stores, offers products and brands across craft, sewing, quilting, knitting, and niche creative arts.  

  Dallas - Corner Bakery Cafe has signed a five-restaurant deal in Virginia with franchise partner Shahid Ali and operating partner Ibo Pinar. The stores will open throughout Richmond and Fredericksburg.   Corner Bakery Cafe plans on doubling its national footprint of more than 180 stores in the next two years. To accomplish this goal, the retailer is adding new multi-unit franchise partners and currently has franchise agreements representing commitments for an additional 340 units.

Deerfield, Ill. - At a special meeting of shareholders held Monday, Walgreens shareholders voted to approve all proposals related to the company’s acquisition of the remaining 55% of Alliance Boots GmbH that it does not currently own and the reorganization of the company into a holding company structure.  

Walgreens is poised to start 2015 off with a bang, as the company has nearly finalized its mega-deal with Alliance Boots.

Walgreens shareholders voted to approve all proposals related to the company’s acquisition of the remaining 55% of Alliance Boots that it does not currently own and the reorganization of the company into a holding company structure.

Washington, D.C. – More than 160 national, state and local trade associations and organizations, representing the interests of the global supply chain and local communities, wrote to President Barack Obama Dec. 23 to urge the administration’s immediate involvement in the ongoing contract negotiations between the International Longshore and Warehouse Union and Pacific Maritime Association. The ILWU and PMA have been negotiating a new labor contract, which covers dockworkers at the 29 West Coast U.S. ports.  

Deerfield, Ill. – Cost synergies from its ongoing merger with U.K. drugstore chain Alliance Boots GmBH helped boost net earnings at Walgreen Co. 16% to $809 million in the first quarter of fiscal 2015 from $695 million the same quarter a year earlier. The combined synergies for Walgreens and Alliance Boots in the first quarter were approximately $140 million and remain on track to reach at least $650 million in fiscal 2015.

Sales rose 7% to $19.6 billion from $18.33 billion. Same-store sales increased 5.7%.

Redwood Shores, Calif. - Jill Puleri will join Oracle Corp. as senior VP and general manager, Oracle Retail. Having held various leadership positions in sales, marketing and consulting, Puleri brings more than 20 years of experience in the retail industry, most recently serving as the worldwide retail industry leader for IBM Global Business Services.   Puleri will be responsible for leading the Oracle Retail Global Business Unit and report to Mike Webster, Oracle's senior VP and general manager, retail and hospitality.