Labor & Employment

AMSTERDAM — Former Ahold senior executive Albert Heijn, who helped lead the overhaul of the Dutch-based supermarket giant in the 1960s and 1970s, died peacefully last week at his home in the United Kingdom, the company announced. He was 83.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

Dow Jones this morning reported that South African retailer and Walmart takeover target Massmart Holdings has given assurances it will continue to honor all agreements with labor unions and local labor laws if the buyout goes through. That’s what Walmart and Massmart have been saying since the deal was announced last year but they have to keep saying it because union activists are everywhere in the world.

MONTVALE, N.J. - A&P announced that sales for the third quarter were $1.8 billion versus $2 billion in last fiscal year’s third quarter. Comparable-store sales decreased 4.9%. The company reported that loss from continuing operations was $181 million versus last year’s third quarter reported loss from continuing operations of $502 million.

MINNEAPOLIS  —Target announced that its chief marketing officer, Michael Francis, will serve as the executive committee sponsor of Target’s entrance into the Canadian market.  In this role, Francis will oversee the extension of Target’s brand as part of the corporation’s first-ever expansion of its stores beyond the United States, the company reported. 

New York City -- Chicago's City Council on Thursday approved a $1 million property tax break for Costco Wholesale Corp. to build its second store in the city, Chicago Business reported.

The tax break was introduced by Mayor Richard M. Daley at a December City Council meeting. He asked that the retailer receive a $1 million tax break over 12 years for a store to be built at 14th Street and Ashland Avenue.

Los Angeles -- BH Properties announced that Ronald J. Platisha has been promoted to the newly created position of COO.

Platisha will lead the organizational operations while building and maintaining relationships with financial institutions.

Platisha, a 30-year veteran in the commercial real estate industry, has served as CFO at BH Properties for the past four years.

San Jose, Calif. -- SRS Real Estate Partners said it has opened the doors on its newest office in San Jose, Calif. The office, which specializes in project leasing and investment sales, includes the addition of five new senior VP’s -- Randol Y. Mackley, Bruce H. Frazer, Bob Quigley, Mark Thomas and Stephen Gazzera -- along with a new associate Peggy Owen.

They will be joined by Sarah Edwards, a senior associate from the company’s San Francisco office.   

New York City -- Though Walmart's desire to enter New York City is nothing new, its latest push shows that attitudes toward the retailer opening stores in the Big Apple are changing -- in Walmart's favor.

The company recently launched WalmartNYC.com, a "community forum for customers, associates, stakeholders and public officials who want to learn more about Walmart as it continues to evaluate opportunities across the city," according to a company press release.