Mergers & Acquisitions

TORONTO - Sears Canada announced that it has appointed Sharon Driscoll as SVP and CFO. Driscoll has held her current position with the company as SVP finance, since November of 2008.

Prior to joining Sears in 2008, Driscoll was employed with Loblaw Companies Limited, holding the position of SVP corporate development, and before that SVP finance national merchandising and SVP finance retail Ontario region. 

PITTSBURGH - American Eagle Outfitters announced its plans for American Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo’s Harajuku shopping district in the first half of 2012.

AEO said it has signed an exclusive franchise agreement with Sumikin, a leading marketer, importer and exporter with extensive experience in the fashion industry, among other lines of business. 

Pittsburgh - American Eagle Outfitters on Tuesday detailed its plans to open Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo’s legendary Harajuku shopping district in the first half of 2012.

AEO has signed an exclusive franchise agreement with Sumikin, a leading marketer, importer and exporter with extensive experience in the fashion industry.

MINNEAPOLIS — Supervalu is having difficulty divesting its New-England based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.

New York - Supervalu is having difficulty divesting its New-England-based Shaw’s chain for more than $1 billion, the Wall Street Journal reported Tuesday, and the Minnesota grocery conglomerate may be ready to take down its "for-sale" sign.

According to the report, Shaw’s has been on the block for several months with no takers. Many bids from private-equity firms actually came in below the asking price.

NEW YORK - OgilvyAction, the activation arm of Ogilvy & Mather, and Malone Advertising, the retail marketing unit of JWT, both part of WPP Group,have announced a joint venture in North America to form the first fully integrated, end-to-end shopper marketing and experiential marketing agency.

Of all the competitive threats facing Walmart, none looms larger in the minds of the retailer’s suppliers than the ongoing expansion and financial success of leading operators in the dollar store segment. That’s according to Walmart suppliers who participated in a survey conducted by Connecting Northwest Arkansas and identified such chains as Dollar General and Family Dollar as the greatest competitive threat to Walmart during the next five years.

Walmart removed all doubt about how it intends to enter Russia this week when it announced the closure of its office in Moscow. The office was opened two years ago to investigate opportunities in the country, but international division president and CEO Doug McMillon said it no longer made business sense to maintain the facility.