Mergers & Acquisitions

Dallas - Between now and June 30, 7-Eleven Inc. will waive the franchise fee on a select number of its U.S. stores available for franchise, a savings of up to $80,000. The more than 200 available stores are located in cities across the country.

During the last four years 7-Eleven has grown its store base by more than 1,300 units. Now that a 7-Eleven customer base has been established at these locations, the company is looking to transition these stores to franchise operations.

Minneapolis – Although 550 Target Canada headquarters employees are being laid off as Target Corp. prepares to shut down its Canadian venture, the number one person will remain employed. According to the Minneapolis-St. Paul Business Journal, Target Canada president Mark Schindele will return to the company’s U.S. operation and assume a new position of senior VP of retail properties.

The president of Target Canada will return to the fold in the United States as the company shuts down its Canadian operations.

According to the Minneapolis-St. Paul Business Journal, Target Canada president Mark Schindele will return to the company’s U.S. operation and assume a new position of senior VP of retail properties.

The newspaper also reported that about 550 employees in Minnesota were laid off, the biggest reduction at its headquarters since 2009.

Despite reporting a boost in fourth-quarter profits, Groupon says the impact of foreign exchange rates will affect first-quarter performance.

The e-commerce company posted fourth-quarter profit of 6 cents per share, up from 4 cents a share a year earlier. Revenue increased 20 percent to $925 million from $768 million.

Dublin, Calif. - Ross Dress for Less will open two new stores in Louisiana on March 7. The stores are located in Juban Crossing in Denham Springs, and Magnolia Marketplace in central New Orleans.

With these new locations, Ross will operate 15 stores in Louisiana. Together, Ross Dress for Less and DD’s Discounts currently operate more than 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

New York -- Fast-growing VF Corp. continues its aggressive expansion. After opening 75 stores in the fourth quarter, the company plans to open a total of 150 stores this year.

VF, whose banners include Timberland, The North Face, Vans, Wrangler, Lee and Nautica, has long been known for selling products through other retailers. But in recent years it has stepped up its direct-to-consumer business via aggressive store expansion, and the channel is steadily accounting for a larger percentage of sales.

Brampton, Ontario — Shoppers Drug Mart, which was acquired by grocer Loblaw nearly a year ago, is testing the sale of fresh foods in select locations, according to published reports.

Tapping into Loblaw’s strengths and expertise, the Canadian pharmacy retailer is piloting the sale of fresh food in six locations, including fresh produce and meats.

Hudson, Ohio -- Jo-Ann Fabric and Craft Stores has named a 25-year retailing veteran, former Shopko exec Jill Soltau, as president, CEO and a member of the board, effective March 2. She succeeds Jim Kerr, who has served as interim CEO since August when Travis Smith stepped down. Kerr will continue as executive VP and CFO.