Strategy

CARLISLE, Pa. — The Federal Trade Commission has approved Giant Food Stores' proposal to acquire 15 Genuardi's stores from Safeway.

The news follows Giant's Jan. 5 announcement that it would acquire the Genuardi's stores, all of which are located in the greater Philadelphia market. Giant also noted that under the terms of a consent order approved by the FTC, the Genuardi's located in Newtown, Pa., will be purchased by Newtown Market and will be operated as a McCaffrey's supermarket.

PHOENIX — PetSmart shareholders should be pretty pleased with their investment now that the company's board of directors has raised the quarterly dividend. The board has approved an 18% increase to PetSmart's quarterly dividend, from 14 cents to 16.5 cents per share beginning in the second quarter of fiscal 2012.

Minneapolis -- Target Corp. has launched four new corporate responsibility goals, including a commitment to making at least 50 owned-brand packaging designs more sustainable by the end of fiscal year 2016. Target’s new goals were announced in conjunction with the release of its 2011 Corporate Responsibility Report.

Greensboro, N.C. -- Tanger Factory Outlet Centers and Gordon Group Holdings have entered into an agreement to develop an upscale outlet center at Foxwoods Resort Casino in Mashantucket, Conn., on the Mashantucket Pequot Indian Reservation.

Foxwoods Resort Casino is the largest casino complex in the United States by gaming square footage. Foxwoods attracts approximately 16 million annual visitors, an average of more than 40,000 people per day. 

CARLSBAD, Calif. — Callaway Golf Company has named Harry Arnett as SVP marketing. In this role, Arnett assumes leadership of the company's global marketing, communications and go-to-market functions.  The announcement was made by Chip Brewer, president and CEO, Callaway Golf.

SUFFERN, N.Y. — Ascena Retail Group has completed its acquisition of Charming Shoppes. The company also plans to cease operating and close down Charming Shoppes’ Fashion Bug business by early 2013, and is exploring a potential sale of Charming Shoppes’ Figi’s business, which markets food and specialty gift products.

In 2011, Charming Shoppes closed 124 Fashion Bug stores. The chain had previously announced its intention to continue to close certain Fashion Bug stores.

Plano, Texas -- In an announcement that caught the retail industry by surprise, J.C. Penney Co. said that Michael Francis will be leaving the company, effective June 18. Chief executive Ron Johnson will assume direct responsibility and oversight of the company's marketing and merchandising functions.

New York -- Tesco PLC is leaving the Japanese retail market after nine years. The company will sell 50% of Tesco Japan to Aeon Co., Japan’s largest retail group.

Tesco said it will form a joint venture with Aeon and invest £40 million ($63 million), then sell the remaining 50% to Aeon at a later date.