Mergers & Acquisitions

Cincinnati -- Macy’s will open a store in Sarasota, Fla., in fall 2014. The two-level, 160,000-sq.-ft. Macy’s will be an anchor of the new Mall at University Town Center, which is due to begin construction later this year.

Macy’s currently operates three stores in the Sarasota-Bradenton market – at Southgate Mall, Sarasota Square and DeSoto Square.
 

Houston -- Stage Stores announced the appointment of Steven Lawrence as chief merchandising officer, effective April 30, 2012. Lawrence will be responsible for all of the merchandising, planning and allocation functions of the company.

Prior to joining Stage Stores, Lawrence spent 11 years with J.C. Penney, where he was most recently co-chief merchant executive VP GMM men’s, kids & home.
 

New York -- Canada’s Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.

The Canadian retailing group said the $83.6 million sale, which amounts to a 23.9%% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.

New York -- Wal-Mart Stores confirmed that it is investigating its operations in Mexico for possible violations of the U.S. law that prohibits bribery overseas. The acknowledgement came in response to a lengthy article by The New York Times on Saturday that alleged the giant discounter first learned of allegations of "widespread bribery" by its workers in the country in 2005 and that top executives subsequently covered them up. 

Seattle -- Starbucks Coffee Co. has announced a partnership to open a store inside each of the six Disney properties in California and Florida.

The first will open this summer, at Disneyland California Adventure in Anaheim, Calif. Starbucks will be located in the Fiddler, Fifer and Practical Café on Buena Vista Street, which is designed to transport patrons to 1920s Los Angeles. The store’s location plays off the Spanish/Mexican architecture of the period, and Starbucks baristas will wear 1920s-inspired attire.

LONGUEUIL, Quebec — The Jean Coutu Group has sold 56 million of its approximately 234.4 million shares in Rite Aid, the company said Friday.

The Canadian retailing group said the $83.6 million, $1.51-per-share sale, which amounts to a nearly 24% reduction in the number of Rite Aid shares the company owns, would reduce its stake in Camp Hill, Pa.-based Rite Aid to 19.85%. The Jean Coutu group still owns about 178.4 million shares in the 4,667-store chain.

Canton, Mass. -- Dunkin' Donuts announced the signing of a multi-unit store development agreement with three franchise groups to develop 25 new restaurants in Texas over the next several years. The locations include 16 units in Houston and nine in San Antonio.

Dunkin' Donuts' development throughout Texas is part of the company's goal to double the number of Dunkin' restaurants in the United States over the next 20 years.

NEW YORK — Wal-Mart Stores confirmed that it is investigating its operations in Mexico for possible violations of the U.S. law that prohibits bribery overseas. The acknowledgement came in response to a lengthy article by The New York Times on Saturday that alleged the giant discounter first learned of allegations of "widespread bribery" by its workers in the country in 2005 and that top executives subsequently covered them up.