Marketing

Toronto -- Canada’s Hudson's Bay Co. said Monday that it has completed its $2.4 billion acquisition of Saks Inc. Saks shareholders overwhelmingly approved the sale of the New York company during a special meeting on Wednesday. The combined company will operate a total of 320 stores, including 179 full-line specialty department stores, 72 outlet stores and 69 home stores in prime locations throughout the U.S., and Canada, along with three e-commerce sites.

Fremont, Calif. -- Men’s Wearhouse again rejected a $2.3 billion takeover bid by Jos. A. Bank, refusing to allow it confidential access to its books. Last week, Jos. A. Bank sent a letter to Men’s Wearhouse, hinting that it might raise its proposed takeover offer above $48 a share if it was allowed to conduct due diligence.

In a statement on Monday, Men’s Wearhouse once again reiterated its belief that its own turnaround plan would be better for shareholders.

A desire to improve operational efficiency and capitalize on scale were cited as reasons for several senior level executive moves at Dollar General.

The retailer recently surpassed 11,000 units and chairman and CEO Rick Dreiling said the enhanced management structure involving Todd Vasos and David D’Arezzo would align the company for continued future growth.

By Joseph Bona, [email protected]

In media interviews of late, Beth Newlands Campbell, the new CEO of Food Lion, has been offering reporters a frank assessment of the supermarket chain’s ho-hum, middle-of-the-road situation: “Staying the same,” she explains, “is not an option.”

Tractor Supply Company has elected Cynthia T. Jamison to its board of directors. Jamison will succeed James F. Wright as chairman of the board upon the conclusion of Wright's term at the end of the year.

Wright will resign his position as a board member effective December 31, 2013, consistent with his plan to serve as executive chairman of the board with a term of one year, as previously announced in September 2012.

Green Bay, Wis. -- Shopko continues on its growth path with the opening of five new Shopko Hometown stores in November. The new stores are located in: Afton, Wyo.; Ellsworth, Wis.; St. Peter, Minn.; Tomahawk, Wis., and Winneconne, Wis.

Von Maur has opened its first location in Alabama, just outside of Birmingham, at Riverchase Galleria in Hoover. The 185,000-sq.-ft. store is one of the largest locations in the country.

Having laid a foundation of access, transparency and trust since arriving at Walmart U.S. four years ago, chief merchandising and marketing officer Duncan Mac Naughton’s top priority these days is leveraging joint business planning processes with up to 300 key suppliers to tap new growth opportunities.