Strategy

ALDI is accelerating its growth and dramatically increasing its presence in the Northeast with the acquisition of 66 Bottom Dollar Food stores from Delhaize Group.

Delhaize said it reached an agreement to sell its 66 Bottom Dollar stores in the greater Philadelphia and Pittsburgh markets for $15 million and associated lease liabilities. Delhaize said it would take an asset impairment charge of $180 million in conjunction with the sale.

New York –- Walgreens has reportedly filed for an eight-part benchmark bond offering to help finance its planned $5.3 billion purchase of U.K. drugstore retailer Alliance Boots GmBH. According to Bloomberg, Walgreens has filed with the SEC for three-, five-, seven-, 10-, 20- and 30-year fixed-rate bonds, as well as 18-month and three-year floating-rate notes.  

New York -- British fast-fashion retailer Topshop, a unit of Arcadia Group, opened a flagship on Manhattan’s Fifth Avenue, close to Rockefeller Center.  

Redmond, Wash. -- Guitar Center and four additional new retailers and restaurants are slated to open at Redmond Town Center, in Redmond, Wash., later this year and into next spring.  

Jacqueline Hourigan Rice will join Target Dec. 1 as the retailer’s SVP of risk and compliance after holding a similar role at General Motors.

In her new role Rice will assume some responsibilities previously held by Ann Scovil who retired in March as vp of assurance, risk and compliance. Rice will also have responsibility for corporate security and Target’s suppliers. She will report directly to Target CEO Brian Cornell who joined the company in August.

Marana, Ariz. -- Simon broke ground Thursday on Tucson Premium Outlets in Marana, Arizona. The multi-million dollar project will feature more than 90 retailers, and is slated to open fall 2015.  

Robert Bacchi, Choice Logistics’ SVP of information systems has been named the company’s EVP and chief information officer. Bacchi will continue to report to Michael Katz, CEO of Choice.

Alpharetta, Ga. -- Columbia Sportswear Company opened its first-ever store dedicated to its performance fishing gear (PFG) at the Avalon Mall in Alpharetta, Ga. Columbia’s PFG collection is inspired by the performance, style and comfort needs of professional and recreational anglers of all ages.   The 3,176-sq.-ft. store has a clean design, boutique feel and digital integration that includes an interactive knot-tying station.