Strategy

PURCHASE, N.Y. — PepsiCo announced that its current president is resigning from his post.

New York -- Nordstrom will announce on Thursday that it will open its first four stores in Canada by 2015, according to the Globe and Mail. Executives of Nordstrom and Cadillac Fairview, the landlord of the four malls where the stores will be located, set to unveil the sites at a news conference in Toronto, the report said.

The stores will be located in Pacific Centre in Vancouver, Chinook Centre in Calgary, Ottawa’s Rideau Centre and Sherway Gardens in Toronto, according to previous reports.

New York -- Ritz Camera & Image LLC plans to go out of business after 94 years and close its remaining 137 stores after it failed in a bankruptcy auction to find a buyer to keep the camera chain afloat, the Chicago Tribune reported.

U.S. bankruptcy judge Kevin Gross in Wilmington, Del., approved a plan to turn over most of Ritz's assets to Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC.

New York -- The Jones Group Inc. said Wednesday it has appointed Kathy Nedorostek to the newly created position of group president, global footwear and accessories, effective mid-October.  

In her new position, Nedorostek will oversee footwear, handbags and jewelry for Jones Group.

Nedorostek arrives at Jones Group from Coach, where she was president of North America Wholesale and Global Licensing.

Boston-based City Sports names Edward Albertian as president and CEO

The 21 store chain said Albertian had joined the company after serving the prior seven years as president and CEO of Trans National Group.

New York -- Toys “R” Us’ holiday 2012 plans include a “hot toy” reservation program, free and expanded layaway services and offering more exclusive toys from branded manufacturers along with more proprietary products. The nation’s largest specialty toy retailer also will open 150 to 200 temporary locations for the holidays under the Toys “R” Us Express banner.

GRAND RAPIDS, Mich. — Meijer's "Simply Give Week" garnered more than $145,000 in donations from its customers. The effort, combined with the commitment from Meijer to double all donations made Sept. 2 to 8, brought the week's total donation to $437,400, Meijer co-chairman Hank Meijer said.

Meijer launched Simply Give Week to support Hunger Action Month in September and highlights its continuing commitment to hunger relief.

Philadelphia -- Tween discounter Five Below Inc. reported Tuesday a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others. That compares with a loss of $1.7 million in the year-ago period. However, adjusted profit of $1.2 million beat expectations and the company’s third-quarter and full-year estimates are in line with Wall Street’s forecast.