Trading Partners

Oak Brook, Ill. – Retail Properties of America Inc. (RPAI) has named Heath R. Fear as its new CFO and treasurer, effective Aug. 17. Fear will play a key role in the continued execution of the company’s portfolio and balance sheet strategy, in addition to oversight of all of financial activities, including capital markets, accounting, investor relations, internal audit, internal reporting and treasury.

Seattle - Starbucks Corp. is looking to increase its corporate ownership stake. The retailer has authorized the repurchase of an additional 50 million shares of the company's common stock under its ongoing share repurchase program.

This authorization has no expiration date and is in addition to the 11 million shares that remained available for repurchase as of June 28, 2015 under an existing authorization.

Toronto - Hudson’s Bay Company (HBC) is capitalizing on 42 real estate assets. The retailer has closed a joint venture with Simon Property Group focused on credit tenant, net-leased and multi-tenanted retail buildings in the U.S. and internationally.   

Seattle – Starbucks Corp. is snubbing Uber in new extension of its loyalty program. Starbucks is partnering with rival online transportation service Lyft to offer Lyft drivers and passengers the chance to earn points in its loyalty program.  

Cincinnati - The Kroger Co. is extending a partnership that provides a number of financial services to shoppers at its stores. By continuing a 30-plus-year agreement with global payment services provider Western Union, Kroger gives customers the ability to send and receive Western Union money transfer transactions, purchase money orders and pay their bills at more than 2,300 Kroger store locations.

The quest for innovation in the retail industry often requires unconventional partnerships, as Williams Sonoma has proven with its new Harvard smoker.

The retailer tasked one of Harvard University's engineering classes to come up with a better way to barbecue and smoke meats. In the end, a team of students invented a smoker that can eliminate hot spots and keep a constant and precise low temperature both in the smoker and the meat itself. The retailer is now is in the process of developing and producing the unit, which could retail for under $1,000. 

Atlanta - The Home Depot Inc. is spending about $1.6 billion in an acquisition squarely aimed at better meeting the needs of its professional customers.

The retailer is purchasing Jacksonville, Florida-based Interline Brands Inc., a national distributor and direct marketer of broad-line maintenance, repair and operations (MRO) products.

Hangzhou, China - Alibaba.com is moving to put concerns about the reliability of its suppliers to rest. The global e-commerce platform is upgrading its trade assurance program to give small-to-mid-sized businesses peace of mind when buying from overseas suppliers.