Strategy

Dhaka, Bangladesh – Police in Bangladesh have reportedly filed charges against the owners of a garment factory that was the site of a fatal fire in November 2012 that killed more than 100 workers. Bloomberg reports that Delwar Hossain and his unidentified wife, owners of Tazreen Fashion Ltd, were among 13 people charged with murder and other offenses in connection with the deadly blaze that resulted in 124 deaths.

Hampstead, Md. – The board of directors of Jos. A. Bank Clothiers, Inc. has unanimously rejected a non-binding acquisition proposal it received on Nov. 26, 2013, from The Men's Wearhouse, Inc. Assisted by outside financial advisors, the board determined the price of roughly $1.54 billion significantly undervalued the company and its near and long-term potential and was not in the best interest of the company's shareholders.

Site search specialist SLI Systems has elected New Zealand marketer and social media executive Andy Lark as a non-executive independent director.

"We are very pleased to add Andy's wealth of global brand, e-commerce and marketing experience to the SLI Board," said SLI Systems Chairman Greg Cross. "With his direct experience of building and funding businesses, he is conversant with the challenges unique to a fast-growing technology company like SLI Systems."

Southern Wine & Spirits has enhanced its forecasting and replenishment capabilities with the appointment of Mel Velez as VP of demand planning and logistics.

The company said the addition of Velez to an already industry leading supply chain management team will further enhance its ability to deliver excellence in service to divisional and retail customers, as well as to continue to enhance and expand partnerships with suppliers across the Southern enterprise. He will report to Phil Morsing, VP of supply chain operations.

Only two-thirds of Americans are all or almost finished with their holiday shopping as of Dec. 23. Of the 24 retailers surveyed by America’s Research Group and Inmar, only three retained 70% or more of their customer base, with Walmart topping the list at 88.1%, followed closely by Dollar Tree at 80.4%, and Target at 72.1%.

Columbia, S.C. — Edens Investment Trust has closed a $1.47 billion equity transaction composed of the $718 million sale of a 29% equity stake in the company and a $750 million equity commitment from the company’s institutional investors.

In the sales transaction, a Blackstone-sponsored real estate investment vehicle acquired a $718 million stake in Edens from the State of Michigan Retirement System.

New York – Factors including the permanency of the 2013 payroll tax increase, uneven job creation and uncertainty caused by the autumn partial government shutdown are expected to continue constraining consumer spending in 2014. According to a new economic insight report from Sterne Agee, lower gas prices, a lingering wealth effect from home price appreciation and record highs in equities helped boost holiday spending, but will not be enough to counteract a trend toward weak consumption that has been in place since the beginning of this year.

Discount grocer Aldi is launching a five-year strategic plan to open 650 new stores across the United States. The chain launched its expansion efforts with the decision to build its regional headquarters and distribution center in Moreno Valley, Calif.