Mergers & Acquisitions

Austin, Texas — Golfsmith International has named Sue E. Gove president and CEO.

Gove, formerly president and COO of the combined Golfsmith and Golf Town business, has also served as the chief integration officer leading the successful Golfsmith-Golf Town combination, which was finalized this past July. Marty Hanaka, the previous CEO, will serve in an advisory role through the end of this year.

New York -- Supervalu Inc. is cutting 700 positions at its Shaw’s and Star Market divisions in New England.

The company said Friday that the job cuts will take place in 169 Shaw's and Star Market stores.

Hoffman Estates, Ill. -- Sears Holdings Corp. said Friday it has named Ryan Vero senior VP and president, Grocery, Drug and Pharmacy.

Vero most recently served as the executive VP and chief merchandising/marketing officer for OfficeMax. He spend 17 years with the office supply retailer and was most recently responsible for merchandising, marketing, new channels, and e-commerce business, in addition to global sourcing, private brands, product development and pricing.
 

Seattle -- Starbucks Coffee Co. reported a higher-than expected net income of $359 million for its fourth quarter, compared with $358.5 million in the year-ago period. The company also raised its earnings estimate for the next fiscal year.

Revenue rose 11% in the fourth quarter, to $3.36 billion. Same-store sales rose 6%, fueled by higher customer traffic.

Former OfficeMax executive Ryan Vero has been named SVP and president of grocery, drug and pharmacy at Sears Holdings.

Vero spent 17 years with OfficeMax and last served as the company’s EVP and chief merchandising and marketing officer. In his new role with Sears Holdings, Vero will be responsible for the oversight, leadership and growth, both in-store and online, for the company’s grocery, drug and pharmacy businesses.

Columbus, Ohio -- DSW Inc. announced Thursday the acquisition of 810 AC LLC, which owns the corporate headquarters of DSW, as well as its 700,000-sq.-ft. distribution center and trailer lot on its home office campus in Columbus, Ohio.

Purchase price was $72 million.

The company recently completed the $15 million installation of an automatic sortation facility in the distribution center to support its size replenishment program.

Dallas -- 7-Eleven announced that it has acquired the retail and wholesale dealer assets of San Antonio-based Tetco, closing a deal that was announced Aug. 14.

The assets include 163 company-operated convenience stores in Utah and the Dallas-Fort Worth, Austin and San Antonio areas of Texas.

Terms of the deal were not disclosed.

The acquisition signals a return to San Antonio for 7-Eleven, where the company had operated stores until 1989.

Indianapolis -- Lids Sports Group announced Wednesday that its retail division will purchase 12 stores from Fanatics Inc., comprised of nine FansEdge locations in the Greater Chicago area as well as one in Oklahoma and two Football Fanatics in Jacksonville, Fla.



The locations will be rebranded under the Locker Room by LIDS retail banner, to include region-specific storefronts such as Chicago Locker Room and Oklahoma Locker Room.