Strategy

San Antonio, Texas -- Steak n Shake said Tuesday it has signed its first international development agreement, which will bring the concept to the Middle East.

Steak n Shake has signed an exclusive area development agreement with the Saleh Bin Lahej Group to open 40 restaurants throughout the United Arab Emirates. This agreement represents the initial expansion of the brand outside the continental United States.

Rockford, Mich. -- Wolverine Worldwide said Tuesday it will complete its previously announced acquisition of Collective Brands' Performance + Lifestyle Group, which consists of the Sperry Top-Sider, Saucony, Stride Rite and Keds brands, for $1.24 billion.

The banners will become Wolverine’s largest operating group, adding more than $1 billion in revenue to Wolverine’s existing stable of brands such as Merrell and Hush Puppies.

Atlanta -- The SpendTrend analysis for September, released Tuesday by First Data Corp., found that card spending in September was down from the month prior.

The report, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, showed that overall dollar volume growth was 5.8%, down from August’s 7.2% growth.

WILTON, Conn. — Beiersdorf, the U.S. subsidiary of Beiersdorf AG — a global skin care company based in Hamburg, Germany — has announced the appointment of Bill Graham as president and general manager of Beiersdorf North America.

Graham previously served as president and general manager of Beiersdorf. His new role includes leadership of both the United States and Canadian business units.
 
Graham was promoted to the position of general manager of Beiersdorf in August 2011, after joining the company as VP sales in 2007.

New York -- The Conference Board Employment Trends Index decreased again in September, following a downward revision in August. The index now stands at 107.86, down from the revised figure of 108.23 in August. The September figure is 5.4% higher than a year ago.

CINCINNATI — Speaking at Procter & Gamble's annual meeting, chairman, president and CEO, Bob McDonald ensured investors that the company is executing on its growth and productivity plan to enhance performance and drive shareholder value.

Washington, D.C. -- The Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates found that import cargo volume at the nation’s major retail container ports is expected to increase 9.9% in October as merchants wrap up the annual shipping cycle for holiday merchandise.

Commerce, Calif. -- Discounter 99 Cents Only said Tuesday it has launched an official search for a retail property on Rodeo Drive in Beverly Hills, Calif., to open its first store on the iconic street.

"We are confident a Rodeo Drive store will be successful because our stores do well in affluent areas,” said Eric Schiffer, CEO. “In fact, our highest sales volume store is located only a few blocks from Beverly Hills on Wilshire Boulevard.”

Of its 303 extreme-value stores in the U.S., 222 are in California.