Marketing

Oakville, Canada — The proposed merger between Tim Hortons Inc. and Burger King Worldwide Inc. has been approved by the Minister of Industry under the Investment Canada Act ("ICA"). The companies have set the deadline for registered shareholders of Tim Hortons or Burger King Worldwide to make an election by Dec. 9, with the assumption the proposed merger will occur Dec. 12.

Houston — In its surprise change of leadership, Francesca's Holdings Corp. named Michael W. Barnes as chairman, president and CEO, effective immediately. He joins Fancesca's after serving as CEO of Signet Jewelers since 2011, and leading the company’s $1.46 billion acquisition of Zale Corp. Barnes left the Ohio-based Signet in October, saying he wanted to be closer to his family in Dallas.  

Philadelphia — Specialty retailer Five Below named current COO and industry veteran Joel Anderson as president and CEO, effective Feb.1., 2015.  Anderson has also been elected a member of the company's board of directors.  Current CEO and co-founder, Tom Vellios, who will work with Anderson to ensure a smooth transition, will remain active in the company as executive chairman.   

Pittsburgh — American Eagle Outfitters’ profit fell 63% in the third quarter, to $9.03 million from $24.9 million in the year-ago period. The drop was partially driven by costs related to a restructuring program that includes closing underperforming stores and reducing headquarters headcount.  

New York — Swedish fashion giant H&M’s higher-end brand COS will make its New York debut on Friday, in the SoHo section of Manhattan. It’s the brand’s second U.S. store—the first, in Los Angles, opened in October. 
  COS,  known for its clean lines and minimalist look, targets a more sophisticated customer than the more value-priced H&M.  The SoHo store has a upmarket feel and gallery-like look, enhanced by the use of glass and white-washed wood.
 

Fresh & Easy, the former Tesco-owned grocery format, is testing a dramatically new look at seven-plus stores in the Las Vegas market.

The stores have been remodeled with a more modern feel and layout and a greater emphasis on ready meal solutions, with such features as a “Fresh to Go” hot food bar, a pizza oven, a coffee bar and made-to-order sandwiches. There's also a revamped product selection with lower fixtures and a more abundant selection of fresh food. 

Struggling retailer Francesca's has named specialty retailing veteran Michael W. Barnes as president and CEO.

Greg Brenneman, chairman of the board since 2010, was named lead director.

Barnes had been CEO at Signet since 2011 and led Signet’s $1.46 billion acquisition of Zale Corp. Before that, he spent more than 25 years at the fashion company Gossip Group Inc., becoming president and chief operating officer in 2007.

As the acquisition of Family Dollar moves closer to resolution, would-be acquirers Dollar Tree and Dollar General maintain widely differing views on the superiority of their respective offers and the opinion of federal regulators.

A cruise industry executive is the newest member of the board of directors for Sears Holdings Corp.

"I am very pleased to welcome Kunal S. Kamlani to our board," said Sears Holdings Chairman and CEO Edward S. Lampert. "His broad-based financial services expertise coupled with leading a company with a strong focus on its customers make him a great fit for our board as we continue our transformation to a member-centric company that leverages Shop Your Way and Integrated Retail."

A former Walmart and Sears financial executive and a former Federal Reserve bank executive are the newest members of the board at gift card and financial services provider Blackhawk Network Holdings.

Blackhawk announced on Dec. 5 that Jane J. Thompson and Richard H. Bard were elected to its board of directors effective Oct. 6.