Mergers & Acquisitions

New York City -- Barneys New York is in discussions with its lenders about restructuring, Crain’s New York reported. Barneys, which operates nine namesake stores and 17 Co-op locations, is owned by Istithmar World, the investment arm of government owned Dubai World.

“Barneys New York is actively engaged in discussions with the company's small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success,” said a Barneys spokeswoman in a statement.

Woonsocket, R.I. -- CVS Caremark Corp.'s fourth-quarter earnings rose nearly 4% to $1.06 billion, amid increased pharmacy services revenue because of a long-term contract and new business. The company raised its 2012 earnings forecast by 3 cents per share to account for gains it expects because of a contract dispute between Walgreens and Express Scripts Inc.

Net revenues for the quarter increased 15.2% to a record $28.3 billion. Drugstore revenue increased 4%. Same-store sales were up 2.5%.

Mississauga, Ontario -- Wal-Mart Stores isn’t about to let the grass grow under its feet in Canada. The discounter plans to spend about $753 million this fiscal year to expand its store presence in Canada, before rival Target Corp. begins its push in the country.

There has been a lot of chatter in our industry circles — really, everywhere — about the recent big announcement from J.C. Penney CEO Ron Johnson regarding the iconic brand’s plans for the future. Anyone who’s visited a J.C. Penney lately — present company included — can see the brand needs to make some changes. They’ve been losing traction to competitors like Target and Kohl’s in recent years, and, in my opinion, have had some trouble defining themselves in a fairly crowded and competitive segment. Similar to the issues facing Sears, J.C.

Minneapolis -- Supervalu said Tuesday that will reduce its national work force by approximately 800 positions as part of its long-term turn-around strategy and ongoing efforts to reduce costs. The reductions include both current positions and open jobs that will not be filled.

Dallas -- 7-Eleven said Tuesday it has completed its acquisition of 55 Sam’s Mart stores in the greater Charlotte, N.C., area, part of the c-store operator’s plan to accelerate its growth in the region.

Terms of the deal have not been disclosed.

New York City -- Aeropostale said Friday it has appointed seven-year board member Karin Hirtler-Garvey as chairman of the board, replacing Julian R. Geiger who has stepped down as chairman and resigned from the board.

In November, Gieger left his chairman/CEO post with Aeropostale to join Crumbs Bake Shop as president and CEO.

Hirtler-Garvey is a CPA, and most recently was the chief risk executive for Ally Financial Inc.  Prior to that, she held various senior level management positions at Bank of America.

Philadelphia -- Urban Outfitters Inc. has appointed a former executive as CEO of its namesake brand. The company named Tedford Marlow as head of the Urban Outfitters Group, effective Feb. 6. Marlow he retired from the chain in 2010, after spending nine years as president of the Urban Outfitters brand.

The announcement came almost a month after Richard Hayne, the company's chairman and president, succeeded CEO Glen Senk, who resigned. Hayne co-founded the company in 1970.