Strategy

Irvine, Calif. -- Passco Cos. LLC announced that Brad McCord has been hired as regional marketing representative for the company.

McCord will act as an internal licensed wholesaler and work closely with the sales teams and their marketing efforts.

In the Jan. 27 edition of SiteTalk, we asked our readers to comment on the recent announcement that Cordish Cos. would build an upscale outlet center and entertainment district near Omaha, Neb., and if that development signaled the beginning of more ground-up projects. This is what one reader had to say:

Columbus, Ohio -- DSW said Tuesday that it will acquire its largest shareholder Retail Ventures and turn it into a wholly owned subsidiary, helping to simplify its relationship.

According to the shoe retailer, the two companies signed a merger agreement, under which DSW will give stockholders 0.435 of a DSW share for each share they hold of Retail Ventures.

Retail Venture holds a 62% stake in DSW.

The companies are slated to hold a conference on Wednesday to discuss the deal with investors.

San Francisco -- Gap said Wednesday that it has expanded its Gap and Banana Republic online presence to eight additional European countries through its dedicated European e-commerce sites.

Gap debuted the dedicated sites in the United Kingdom in August 2010 and then expanded to include nine additional European countries in October 2010. The newest announcement brings the total reach of it European e-commerce business to 18 countries.

New York City -- The Jones Group reported Wednesday that revenues for the fourth quarter rose 12.5% to $874 million, from $777 million in the year-ago period.

The company attributed the fourth quarter performance to the June 2010 acquisition of the Stuart Weitzman business, as well as increases in various business segments.

Jones Group closed 44 retail locations in the fourth quarter to end the year with 803 locations (which includes acquired Stuart Weitzman locations). The company closed 194 locations in 2010.

WASHINGTON -- The American Beverage Association announced that consumers across the United States will soon find new calorie labels on the front of their favorite beverages as part of an effort by America's leading non-alcoholic beverage companies bring the Clear on Calories initiative to stores. The beverage industry's voluntary commitment to make calories more visible and useful to consumers supports First Lady Michelle Obama's efforts to help families make informed choices as part of an active, healthy lifestyle, the association reported.

ROCKVILLE, Md. -- The Walmart Foundation and Goodwill have teamed up to provide single mothers with all the tools they need to find employment, succeed in the workplace and permanently support their families. The Walmart Foundation's grant of $2.5 million will support the program, known as Beyond Jobs, at Goodwill agencies in the five key markets of Atlanta, Boston, Los Angeles County, Detroit, and New York City, through 2012.

Indianapolis -- Appliance and electronics retailer Hhgregg reported Tuesday that net income for the quarter ended Dec. 31 rose 18.4% to $26.9 million, compared with $22.7 million in the year-ago period.

Net sales increased 30.6% to $653.7 million. Same-stores dropped 6.2%.

MINNEAPOLIS — In the wake of Walgreens' Big Flats 1901 entry, Supervalu recently introduced its “high quality, low-price” private-label American lager Buck Range Light.

Buck Range Light, which retails for about $5.99 for a 12-pack, will roll out in Supervalu banners nationwide, including Albertsons, Jewel-Osco, Cub Foods and more.

Jakarta/Singapore -- Wal-Mart Stores is in talks to become a partner of Indonesian retailer PT Matahari Putra Prima to develop its hypermarts, according to Reuters.

South Korea's Lotte Shopping Co. has withdrawn from talks for a deal with Matahari, the report said. Matahari last month said it will seek a “global partner” to develop its hypermart business.