Strategy

New York City -- Royal Ahold NV has agreed to acquire bol.com, the Netherlands’ largest online retailer, for about $470 million in cash.

Hoffman Estates, Ill. -- Two months after Sears Holdings Corp. received a $150 million Illinois tax credit for cementing its plans to keep its home base in the state, it announced Monday that it would close six stores in Illinois.

The retailer had already announced in December – two weeks after the tax credit – that it would close 100 to 120 stores, but no Illinois stores were on the initial list.

By Ken Burkeen, [email protected]

Dallas -- SRS Real Estate Partners announced two new hires in the South Florida office, as Dominic Delgado and Evan Richardson both joined the team as senior associates.

Delgado will focus on investment services, landlord representation, tenant representation and disposition services.  Prior to joining SRS, he worked in Miami as community association management coordinator for KW Property Management.

PLEASANTON, Calif. — After stepping into the role on an interim basis, Safeway has named Brian Baer president of its Dominick's Finer Foods banner.

Baer, who has served as acting president of Dominick's since July 2011 after the exit of Don Keprta, has been part of Dominick's parent Safeway since 2001. Prior to his role as president, Baer served as Dominick's CFO and VP finance.

Pleasanton, Calif. -- Safeway has named Brian Baer president of its Dominick’s Finer Foods division in the Chicago area.

Baer had been acting president of Dominick’s since last July when the previous president, Don Kperta, resigned.

Baer joined Safeway in 2001 as VP finance for the company’s Phoenix division. In 2008, he was appointed CFO at Dominick’s.

MOORESVILLE, N.C. — Lowe's rebranding efforts and focus on delivering a better customer experience seem to be paying off as the company ended the year with strong fourth-quarter sales and earnings.

The company reported net earnings of $322 million for the fourth quarter, a 13% increase over the same period a year ago. Diluted earnings per share increased 23.8% to 26 cents from 21 cents in the fourth quarter of 2010. 

Mooresville, N.C. -- Lowe’s Cos. reported Monday that profit for the quarter ended Feb. 3 rose 13% to $322 million, compared with $285 million a year earlier. Results topped Wall Street expectations and demonstrated an upward consumer swing in home-improvement projects.

Quarterly sales increased 11% to $11.6 billion from $10.5 billion, beating analysts’ expectations of $11.35 billion in revenue. Same-store sales rose 3.4%.