Strategy

Ocean Spray, the world's largest cranberry cooperative, has opened a new $26 million state-of-the-art cranberry receiving station facility in Richmond, British Columbia.

New York -- Starbucks Coffee Co. will open stores across the Scandinavian region in a partnership with Umoe Restaurant Group AS, a leading chain of service establishments in Scandinavia.

The first locations are expected to open in 2013 in Sweden and Norway.

Michelle Gass, president, Starbucks Europe, Middle East and Africa commented: “We are proud to increase our presence in Scandinavia as part of our growth strategy in Europe, Middle East and Africa, and further develop stores where our customers want and expect us to be

Lincoln, Neb. -- Nebraska Book Co. said Friday it has hired Bill Zeuch as senior VP merchandising and marketing for the 250-unit chain of college bookstores, effective Oct. 3.

Zeuch is the former senior VP merchandising, marketing and sales new channels at OfficeMax.

In his position with Nebraska Book Co., he will focus on merchandising, branding and selling initiatives to expand assortments and grow long-term market share.

DEERFIELD BEACH, Fla. — Walgreens’ fiscal fourth quarter net income fell 55% compared with a year ago when the drugstore operator recorded a big business sale gain. However, its adjusted earnings still beat analysts’ expectations.

Walgreen earned $353 million for the quarter ended Aug. 31, compared with $792 million a year ago. On an adjusted basis, Walgreen earned $553 million versus $599 million a year earlier. Adjusted earnings excluded acquisition-related costs and costs related to inventory.

Tractor Supply Company president and COO Greg Sandfort will succeed James Wright as CEO of the 1,135 store chain effective January 1.

Stockholm, Sweden -- Swedish fast-fashion retailer Hennes & Mauritz AB reported Thursday that net income for the quarter ended Aug. 31 edged up less than 1% to $550 million, missing analysts’ expectations of $618 million in profit. Sales rose 10% in local currency, but gross margins shrank and the retailer said it would delay the start of online operations in the U.S. until next summer to allow it more time to adapt to the market.

Farmington Hills, Mich. -- Agree Realty Corp. said it has executed two leases and completed a disposition of the company's remaining assets that were formerly leased to Borders.
 
The company has executed a lease with HomeGoods for the building formerly occupied by Borders in Monroeville, Pa. HomeGoods, a TJX Cos. banner, will occupy the space effective third quarter of 2013.

Oak Brook, Ill. -- Inland American Real Estate Trust has announced the appointment of Thomas P. McGuinness as president. McGuinness joined Inland in 1982 and has held several executive positions throughout the Inland organization.  

In his new role, he will oversee the management of the company’s day-to-day operations, including the strategic business plan, investment decisions, asset management and financing functions for the national portfolio of 48 million sq. ft.