Strategy

Office Depot has joined Staples in the search for a new chief executive.   Office Depot announced Monday that Roland Smith plans to retire as CEO of the company.  In June, Staples CEO Ron Sargent stepped down and the chain is still looking for a successor. The resignations come several months after the merger between the two retailers was dropped over antitrust concerns.  

Alimentation Couche-Tard Inc. is expanding its U.S. portfolio yet again.   In its biggest acquisition to date, the Canadian convenience store retailer has agreed to buy CST Brands Inc. for $48.53 per share in cash, with the total deal valued at $4.4 billion, including debt.   Couche-Tard operates more than 12,000 locations globally under several brands, including Circle K. Last year, Couche-Tard acquired The Pantry for about $1.7 billion, including debt, adding more than 1,500 stores to its U.S. footprint.

Hillwood and The Howard Hughes Corporation have unveiled plans for a 130-acre, mixed-use development at Circle T Ranch, a master-planned community north of Dallas-Fort Worth. Circle T resides within AllianceTexas, an 18,000-acre tract that has brought 425 companies, 45,000 jobs, and the world’s first industrial airport to the town of Westlake.   

Fred’s on Friday announced that it had promoted its VP pharmacy services, Timothy Liebmann, to the newly created position of COO pharmacy, effective immediately. Liebmann will be succeeding the company’s retiring executive VP pharmacy operations, Rick Chambers.

Dollar General is moving into North Dakota, announcing that it has begun construction on five new stores in the state. This gives the discount retailer a footprint in 44 states after having established operations in Maine, Oregon, and Rhode Island in 2015.   The initial North Dakota locations will be in Ellendale, Gwinner, Hankinson, Hillsboro, and Oakes. They’re being built in the chain’s standard 9,100-sq.-ft. format.  

Marketing in the department store arena may be new for Rich Lennox, but he’s got plenty of retail marketing experience under his belt. The CMO for Toys “R” Us, who also served in the same capacity for Zales Corp., will take the marketing reins of Macy’s Inc., effective Sept. 15.   Lennox, 51, succeeds Martine Reardon, who left Macy’s in May. He will lead a branding and marketing strategy charge across all channels, reporting to president Jeff Gennette.  

Citing costs due to strategic rebuilding initiatives, Tuesday Morning Corp. reported a loss of $3.9 million in the fourth quarter ended June 30; however, revenue edged up to $222.8 million and same-store sales increased 6%.   According to CEO Steve Becker, pre-announced priorities – including real estate, merchandising, marketing, infrastructure and talent – continue to stay at the forefront of the chain’s activities and have positively impacted top-line performance.    

Fred’s on Friday announced that it had promoted its VP pharmacy services, Timothy Liebmann, to the newly created position of COO pharmacy, effective immediately. Liebmann will be succeeding the company’s retiring executive VP pharmacy operations, Rick Chambers.  

Customer data from payment cards used at Eddie Bauer stores from Jan. 2 to July 17 of this year may have been accessed by malware infecting point of sales systems, the company announced.    An investigation by a third-party digital forensics firm engaged by Eddie Bauer found that the breach was part of a concerted hack-attack targeting several restaurants, hotels, and retailers.  

Photo: Marko Kokic, Red Cross   As the national media continues to largely ignore Louisiana’s cries for help after 6.9 trillion gallons of rain pummeled the southern part of the state between Aug. 8 and Aug. 14, retailers such as Target Corp. have answered the call.