Trading Partners

Toronto - Hudson’s Bay Company has appointed John Caplice to the position of senior VP treasury and investor relations, effective Sept. 2. He most recently served as senior VP treasurer & investor relations at Shoppers Drug Mart Corp. from 2000-2014.

While at Shoppers Drug Mart, Caplice was responsible for treasury and compliance activities, as well as developing and implementing communication strategies.

Caplice will be based in Toronto and will report to Paul Beesley, CFO, Hudson’s Bay Company.   

Miami -- Burger King Worldwide agreed to buy Canadian quick-serve chain Tim Hortons for approximately $11.4 billion, creating the world’s third largest quick-serve restaurant company. Under a tax inversion deal, the corporate headquarters of the new company will be in Canada, where the combined company’s biggest market will be.  

Sandy Kennedy, president of the Retail Industry Leaders Association (RILA), has offered her two cents on the standoff surrounding the union negotiations at the West Coast ports.

Kennedy addressed a letter to the heads of the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU), speaking on behalf of retailers who are experiencing uncertainty and instability over the ongoing conflict.

Arlington, Va. -- The president of the Retail Industry Leaders Association, Sandy Kennedy, has sent a letter to the heads of the Pacific Maritime Association (PMA) and the International Longshore and Warehouse Union (ILWU) urging them to remain focused on securing a new, long-term contract in the immediate future to ensure stability at the west coast ports. The letter reflects the growing angst among the retail community over the lack of a new agreement.

Washington, D.C. -- In a first, the International Code Council (ICC), ASHRAE, the American Institute of Architects (AIA), the Illuminating Engineering Society of North America (IES) and the U.S. Green Building Council (USGBC) have come together and signed an agreement to collaborate on the development of Standard 189.1, the International Green Construction Code (IgCC) and the LEED green building program.

New York -- Christopher Finazzo, former executive VP and chief merchandising officer for Aeropostale, has been sentenced to eight years in prison after being convicted of defrauding the company and taking more than $25 million in kickbacks from a key vendor.

Finazzo, who was found guilty in April 2013 of 14 counts of mail fraud, wire fraud and conspiracy, was also ordered to forfeit more than $25 million and pay the company $13.7 million in restitution.

New York -- Family Dollar said it favors a smaller deal with potential buyer Dollar Tree, and firmly rejected an offer for takeover by larger competitor Dollar General.

Following an $8.5 billion offer last week by Dollar Tree, Dollar General offered a $9 billion, all-cash deal.

San Antonio -- CST Brands announced the signing of a definitive agreement to acquire the convenience store assets, franchisor rights and associated trademarks of Nice N Easy Grocery Shoppes.

Nice N Easy operates 77 corporate and franchise stores in Central New York. The company operations include thirty-three company operated stores along with forty-four franchise locations.

Philadelphia — Pennsylvania Real Estate Investment Trust has entered into an agreement to sell an anchor pad underlying a Bon-Ton store in Bethlehem, Pennsylvania, contiguous to Westgate Mall.

The transaction is expected to close prior to the end of 2014.

Washington, D.C. -- The National Retail Federation on Monday told the U.S. Supreme Court that the debate over debit card swipe fees is “of staggering importance” and asked the justices to review a ruling that left the Federal Reserve’s cap on the billions of transactions conducted each year at 21 cents rather than reducing it to a lower level.