Mergers & Acquisitions

Deerfield Park, Ill. – Walgreens is shaking up its Daily Living organization by shuffling the roster of key marketing and merchandising executives. These promotions and appointments, effective Oct. 1, accompany the appointment of Alex Gourlay, chief executive of Alliance Boots Health and Beauty Division, as Walgreens executive VP, president of customer experience and daily living.

New York -- Canadian home-improvement retailer Rona reported a loss of $136.5 million for the second quarter, compared with a profit of $36.9 million a year earlier, hurt by restructuring costs and tightened market conditions.

According to a report by Reuters, Rona revenue fell 4.6% to $1.21 billion, and same-store sales dipped 1%. Analysts expected revenue of $1.35 billion.

WAYNE, N.J. — Toys “R” Us plans to open more than 100 stores, including new locations, the relocation and conversion of 14 stores to its side-by-side format and 22 new licensed stores. The openings represent the net addition of more than 900,000 sq. ft. of retail space to the company’s store portfolio.

Target stores in the French-speaking Canadian province of Quebec will feature pharmacies under the Brunet banner based on an agreement reached with the McMahon Distributeur pharmaceutique division of Canadian food and drug retailer Metro, Inc.

The agreement comes as Target is preparing to open the first of 25 stores this fall in Quebec. Target entered Canada earlier this year and plans to open a total of 124 stores in its first year of operation.

Albany, N.Y. -- Veteran retail executive Martin Hanaka has been appointed to the board of directors of Trans World Entertainment. Hanaka recently was the interim CEO of Guitar Center, Inc. from January 2013 to April 2013.

Wayne, N.J. – Toys “R” Us on Wednesday unveiled its global growth for 2013, with the planned opening of more than 100 stores, including new locations, the relocation and conversion of 14 stores to its side-by-side format, and 22 new licensed stores. The openings represent the net addition of over 900,000 sq. ft. of retail space to the company’s store portfolio.

Virginia Beach, Va. — Two Firehouse Subs shops opened Monday, an 1,800-sq.-ft. location in Virginia Beach’s Strawbridge area and a 2,400-sq.-ft. location in Hampton’s Coliseum Central.

Divaris Real Estate represented the sub shop in negotiations for each location.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.