Strategy

Mattel has elevated company veteran Tim Kilpin to the role of EVP, international. Kilpin will be responsible for advancing the company’s international presence and leading its growth in emerging markets throughout Asia, Europe and Latin America.

New York -- Costco Wholesale Corp. has opened its first store in continental Europe, a 140,000-sq.-ft. location in Seville, Spain.

Costco will follow it up with a store in Madrid, according to media reports.

The Hillshire Brands Company has completed its acquisition of Van’s Natural Foods from Catterton Partners. Van’s is a leading better-for-you food brand with multiple product lines in frozen breakfast and snack foods.

Same store sales and operating profits declined at Sam’s Club during the first quarter prompting president and CEO Rosalind Brewer to call the reporting period, “one of our more difficult quarters.”

Orlando, Fla. -- Darden Restaurants on Friday said it has reached an agreement to sell its struggling Red Lobster chain to private equity firm Golden Gate Capital for $2.1 billion.

"Red Lobster is exactly the type of company in which we seek to invest given its great brand profile and strong management team,” said Josh Olshansky, managing director at Golden Gate Capital. “We see significant opportunities for future growth by partnering with Kim Lopdrup and the management team to support the long-term success of Red Lobster."

Minneapolis -- Best Buy has exceeded its goal of reducing energy consumption by 20% by 2020 as part of the Department of Energy’s Better Buildings Challenge issued by President Barack Obama in 2011.

More than 1,200 leaders from the toy and baby products industries gathered at the Marriott Marquis Hotel in New York to celebrate the 2014 Toys “R” Us Children’s Fund Gala.

Billund, Denmark – The Lego Group opens a new Legoland Discovery Center store at Assembly Row in Somerville, Massachusetts, on May 23. The 44.000-sq.-ft. store will include two Lego rides, a 4-D cinema, and a large soft play area.

It will feature 11 attractions in total and be the sixth Legoland Discovery Center in the U.S. and 10th worldwide. The store is aimed at children ages 3-10, but minors must be accompanied by an adult.