Mergers & Acquisitions

Australian specialty tea retailer T2 has made its U.S. debut, opening a store in the heart of Manhattan's Soho neighborhood. The shop stocks over 200 teas from around the globe along with an extensive assortment of teapots, cups, sifters and other related items.

Putting aside all the challenges at Staples – weak demand, activist investor pressure to change its board and an uphill battle to acquire its largest competitor – one aspect of the company’s business is encouraging.

Although the company’s results for the fourth quarter were not good on either an as reported or adjusted basis, the commercial division achieve respectable sales growth and in the fourth quarter was the most profitable of Staples three business segments.

Kroger CEO Rodney McMullen declared 2014 an outstanding year and it is easy to see why after the nation’s leading supermarket operator again surpassed performance expectations.

Mahwah, N.J. - Ascena Retail Group Inc. has named board member Randy L. Pearce to the newly created role of lead independent director. As lead independent director, Pearce will preside at executive sessions of the independent directors, will serve as liaison between the independent directors and the chairman of the board and between the independent directors and senior management, and will call meetings of the independent directors.

Meriden, Conn. -- Vestis Retail Group, which operates Bob’s Stores, Eastern Mountain Sports and Sport Chalet, has Susan J. “Sue” Riley to CFO.

Riley brings 30 years of financial management to her new role at Vestis, where she worked on a consulting basis as interim CFO in recent months.

Vestis Retail Group, which operates Bob’s Stores, Eastern Mountain Sports and Sport Chalet, has named a Children's Place veteran as its next CFO.

Petland has hired a former Walmart executive as vice president of corporate stores as the pet supply retailer looks to expand its national footprint. 

Although Tony Samples last worked at Walmart in 2006, Petland touted his Walmart experience in a news release. "Tony brings extensive retail experience to Petland at a time when Petland is expanding its retail footprint," said Petland President and CEO Joe Watson. Samples will lead Petland's retail store division and oversee the company's merchandising and marketing efforts.

Cincinnati – Benefits from its acquisition of the Harris-Teeter grocery chain, which The Kroger Co. acquired in January 2014, helped boost results at Kroger during fourth quarter 2014. It was the supermarket giant’s 45th consecutive quarter of same-store sales growth.

Kroger’s net income rose 23% to $518 million, beating Wall Street expectations with a 22% increase from $422 million last year.