Trading Partners

Philadelphia -- Destination Maternity Corp. has stopped its pursuit of the United Kingdom’s Britain's Mothercare Plc chain after having two bid proposals rejected.

Framingham, Mass. – Staples Inc. is reportedly in negotiations with the state of New York to resolve a dispute about the terms of an agreement to sell numerous items to New York state agencies and qualifying non-profits for a penny each. According to the Wall Street Journal, Staples agreed to honor the one-cent prices on 219 items for three years in order to win a state office and school supplies contract.

After 40 years in the beer business, Molson Coors Brewing Company president and CEO Peter S. Swinburn is retiring from the company and its board of directors on December 31. The board has named Mark R. Hunter, currently CEO and president of Molson Coors Europe and a 25-year industry veteran, as his successor.

PepsiCo announced that James Schiro has resigned from the company's board of directors for health reasons, effective immediately.

Schiro is the former CEO of both Zurich Financial Services and PricewaterhouseCoopers. He was elected to PepsiCo's board of directors in 2003 and served as the company's presiding director from May 2010 to May 2013. Most recently, Schiro served on PepsiCo's nominating and corporate governance committee and its compensation committee.

New York -- American Apparel Inc. announced  four new directors to its board, including the company’s first-ever female board member, Colleen Brown, a former CEO of Fisher Communications, and former Walgreens executive Joseph Magnacca, who took the reins as CEO of RadioShack last year.  

The other new directors are  David Glazek, a partner with hedge fund Standard General, which holds a nearly 44% stake in American Apparel, and Thomas J. Sullivan, a director of Media General.

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San Jose, Calif. – EBay is offering $3.48 billion in debt bonds in a sale that will close July 28. EBay intends to use the net proceeds from the offering, for general corporate purposes including loan repayments.

$400 million of the debt will mature in 2017, with the rest coming due in stages through 2024.

San Jose, Calif. – EBay Inc. is still planning to expand its operations in Russia despite U.S. sanctions against the country’s government. In public comments made in Moscow, EBay VP Wendy Jones said Russia is EBay’s top priority for expansion of its EBay Marketplaces division, and that eBay Marketplaces should go live in Russia in September.

Jones also said EBay doubled its Russian buyer base in 2013 and sold $425 million worth of goods there in 2012. Currently, Russian consumers make 90,000 EBay transactions per day.

Tewksbury, Mass. – The saga over the dismissal of former Demoulas Super Markets Inc. CEO Arthur T. Demoulas continues, with Demoulas making public commentary for the first time.

Washington, D.C. -- The NRF says the members of the Alliance for Bangladesh Worker Safety have made tremendous progress in the past year, demonstrating their true commitment to safer working conditions in the Bangladesh ready-made garment industry. In an official statement, NRF president and CEO Matthew Shay said the group has made many achievements to improve the safety of Bangladeshi factory workers.