Marketing

Seattle -- Starbucks Coffee Co. is looking to expand its food business. The chain has entered into an agreement to acquire San Francisco-based Bay Bread and its La Boulange bakery brand, as well as to hire its well-known French baker, Pascal Rigo. The cash deal is valued at $100 million.

Englewood, Col. -- Sports Authority has announced the launch of its first-ever customer rewards program, The League, which offers members 5% back on their total point balances of 100 points or more earned quarterly.

The program offers one of the highest reward funding rates, as well as the lowest reward threshold amongst leaders in the full-line sporting goods retail industry, allowing members qualify for rewards sooner, the retailer said.
 

Mahwah, N.J. -- Furnitureland South, in Jamestown, N.C., has selected TD Retail Card Services to develop and administer its new private label credit card.
 

New York-- Retail executives have more cash, are adding employees and enjoying stronger revenue, but they remain quite guarded longer term, not seeing a complete economic recovery until 2014 or later, according to the 2012 Retail Outlook Survey by audit, tax, and advisory firm KPMG LLP.

In the recent survey, 77% of retail executives indicate that their companies have significant cash on the balance sheet – up from 72% in KPMG's 2011 survey – and 56% say their companies' cash positions have increased from last year. 

Bentonville, Ark. -- Wal-Mart Stores on Monday released the tally of its shareholder vote on Friday in which all directors of its board reelected. The voting showed some dissent against key executives and board members, including CEO Mike Duke, in the wake of allegations of bribery in Mexico.

According to the tally, CEO Mike Duke received 87% of votes in favor of his re-election. In other results, Chairman Robson Walton, son of Sam Walton received 87% in favor of re-election, and former CEO Lee Scott received 84%.

Beaumont, Texas -- Conn's Inc. said Monday its first-quarter net income more than doubled, and the retailer raised its outlook for the year.

The retailer earned $11.6 million for the three months ended April 30, compared with $4.4 million in the same period last year, which included some one-time costs for severance payments. Revenue increased 5% to $200.9 million from $192 million, as same-sales surged 17.8%.

PITTSBURGH — American Eagle Outfitters has named Mary Boland as EVP, chief financial and administrative officer, effective July 9. Boland’s responsibilities will include finance, investor relations, merchandise planning and allocation, strategy planning, and other administrative functions.

NEW YORK — JCPenney has asked a New York Federal court to dismiss a lawsuit filed by the visual merchandising firm Hudson + Broad over the Plexiglass LED square frame used in the chain’s new “Fair and Square” branding campaign, Women’s Wear Daily reported.

BENTONVILLE, Ark. — Walmart held its annual shareholders’ meeting Friday morning against the backdrop of the company’s 50th anniversary and allegations of corruption in Mexico.

The seemingly diametrically opposed situations presented senior executives with the opportunity to underscore how the company’s unique culture and such enduring values as integrity would power future growth.

New York -- Nike Inc. is trimming its portfolio. The company announced it will sell its Cole Haan and Umbro brands to cut costs and focus on its core namesake brand.

Nike acquired Cole Haan, which specializes in casual and dress shoes, handbags and accessories, in 1988 for $80 million, plus the assumption of $15 million in debt. Cole Haan operates more than 180 stores throughout the United States, Canada, the Middle East and Asia.

Nike bought the soccer gear and apparel company Umbro in 2008 for $565 million.