Strategy

Portland, Ore. -- The city council of Portland, Ore., voted to expand the city's one-year old plastic bag ban, voting 5-0 to phase out plastic checkout bags at an estimated 5,000 restaurants and retailers.

The ban will impact retailers larger than 10,000 -sq.-ft. on March 1, 2013, and the remaining retailers on October 1, 2013. Portland's 2011 rule affected fewer than 200 businesses.

Retailers will still be able to provide plastic bags for bulk items, produce, meats, dry cleaning and prescription drugs.

Minneapolis -- Supervalu on Friday said it would implement a pay freeze for all employees at its corporate headquarters and said it would also reduce or suspend matching contributions to workers’ 401(k) plans, effective next year.

Bentonville, Ark. -- Wal-Mart Stores Inc. on Thursday filed an unfair labor practice charge against the United Food and Commercial Workers International Union, requesting that the National Labor Relations Board halt alleged unlawful attempts to disrupt Wal-Mart’s business.

Wal-Mart spokesman David Tovar told Reuters that the retailer cannot allow the UFCW to “continue to intentionally seek to create an environment that could directly and adversely impact our customers and associates. If they do, they will be held accountable,” he said.

Birmingham, Ala. -- Hibbett Sports reported Friday that net income for the quarter ended Oct. 27 climbed 18.8% to $19 million, compared with $16 million in the year-ago period.

Sales rose 9.6% to $202.9 million, and same-store sales increased 6.4%.

The sporting goods retailer said it is on track to open 57 to 60 new stores in fiscal 2013, expand approximately 17 high-performing stores, and close up to 18 stores.

New York -- Private equity firm Apax Partners said Friday that it will acquire Cole Haan from Nike for $570 million in cash.  

Cole Haan sells through 108 domestic stores, 68 international stores, online and through department stores. It has been a part of Nike since 1988.

To effect the acquisition, Apax is partnering with Jack Boys, who led the revitalization of Converse.

The transaction is expected to close in early 2013.

Canton, Mass. -- Casual Male Retail Group reported Friday a loss of $1.6 million in the third quarter, flat with the prior year’s third quarter.

Sales dipped slightly to $88.7 million from $89 million, and same-store sales inched up 1.5%. However, same-store sales for Destination XL rose 13.8% in the quarter.
    

Toronto -- Sears Canada Inc. announced Friday that Douglas C. Campbell has been promoted to executive VP and COO, effective immediately.

Campbell will oversee retail operations, logistics, replenishment, information technology and international sourcing, and lead the company's undertaking to improve efficiency across the enterprise.

Campbell was most recently executive VP, home and hardlines, for the chain.

New York -- Deloitte reported Friday that its Consumer Spending Index rose sharply in October, primarily due to the significant increase in new home prices.

The Index tracks consumer cash flow as an indicator of future consumer spending.

New York -- Foot Locker Inc. reported Friday that net income for the quarter ended Oct. 27 surged 61% to $106 million, compared with $66 million in the year-ago period. The recent quarter's results, which surpassed Wall Street expectations, included a $9 million tax benefit stemming from the settlement of a foreign tax audit.
 
Revenue rose 9.3% to $1.52 billion from $1.39 billion, beating analysts’ expected $1.47 billion in revenue. Same-store sales climbed 10.2%.

Boca Raton, Fla. -- In a letter to Office Depot Inc., activist investor Starboard Value asked the office supply retailer to immediately revoke its poison pill provision on the grounds that it would limit the influence of shareholders.

Starboard, Office Depot’s largest shareholder with a 14.8% stake, wrote that it believes “the implementation of the poison pill, with a threshold just above our current ownership, is designed specifically to entrench the current board.”