Trading Partners

Dallas -- Zale Corp. on Thursday restated its support for Signet Jewelers Ltd.'s $1 billion acquisition offer, urging shareholders to support the deal despite opposition from a large investor. The deal, under which Zale stockholders would receive $21.00 per share in cash, has been unanimously approved by the Zale board of directors.

Zale’s investor TIG Advisors LLC has called the deal "grossly unfair," saying the jewelry retailers should be able to get $28.60 a share in cash and stock.  

Seattle -- Starbucks Coffee Company is expanding its presence in Latin America, with plans to open locations in Colombia, Bolivia and Panama.

Starbucks said it is on track to open its first store in Colombia, in the city of Bogota, in mid-summer 2014 through a joint venture between two of its longest-term business partners in the Latin America region – Alsea and Grupo Nutresa. During the next five years, the joint venture plans to expand aggressively in Bogota and to other major cities in Colombia.

New Albany, Ohio -- Abercrombie & Fitch Co. CEO Michael Jeffries saw his pay shrink 72% in 2013, according to a filing by the company on Tuesday.

The teen retailer has recorded declining sales and profits, and Jeffries has come under fire. His total compensation last year was $2.24 million, down from $8.16 million in the previous year and $48.1 million in Abercrombie’s fiscal 2011. He was paid more than $20 million a year in the three years before that, according to the report.  

JDA Software Group, a leading global supply chain planning and execution solutions provider, has appointed Baljit (Bal) Dail, a technology executive who has served as JDA’s chairman since May 2013, as interim CEO, effective immediately, replacing Hamish Brewer, who is leaving the company.

Dail will lead the search for a permanent successor to lead the company in the next phase of its strategic growth plan.

The Hillshire Brands Company is about to expand its already robust portfolio of brands — which includes Jimmy Dean, Hillshire Farm, Birds Eye, Ball Park, Duncan Hines, Vlasic, Wish-Bone, State Fair, Sara Lee frozen bakery, Mrs. Butterworth's and Log Cabin — with the acquisition of Pinnacle Foods in a cash and stock transaction for approximately $6.6 billion.

DSW has closed on its acquisition of Town Shoes Limited, the largest footwear and accessories retailer in Canada, for $68.7 million (USD) in cash. DSW acquired a 49.2% interest in Town Shoes from certain clients of Alberta Investment Management Corporation (AIMCo) and other minority shareholders.

DSW's initial stake provides 50% voting control and board representation equal to the primary remaining shareholder, Callisto Capital. Peter J. Solomon Company served as financial advisor to DSW Inc.

Bentonville, Ark. – U.S. Magistrate Judge Erin Setser has recommended that Wal-Mart Stores Inc. and former Wal-Mart CEO Mike Duke face a shareholder lawsuit alleging they concealed corrupt activities at Wal-Mart’s Mexican operation.

The suit, filed by a Michigan pension fund, claims Wal-Mart knew of bribery allegations involving its Wal-Mart de Mexico business in 2005 and conducted an internal investigation in 2005 and 2006, but never notified shareholders.

Coca-Cola Bottling Co., the nation’s largest independent Coca-Cola bottler, has signed a definitive agreement with The Coca-Cola Company to expand the bottler’s franchise territory to include the Morristown and Johnson City, Tenn., territories currently served by Coca-Cola Refreshments USA, Inc. (CCR), a wholly owned subsidiary of The Coca-Cola Company.

Fremont, Calif. - In accordance with the terms of its merger agreement with Jos. A. Bank Clothiers Inc., The Men’s Wearhouse has extended its all-cash tender offer for $65 per share for all of the currently outstanding shares of common stock to May 21, 2014, unless further extended. The tender offer was previously set to expire on May 7.

Amsterdam, Netherlands - Thomas Nowak, senior VP merchandising for European e-commerce site Bol.com, will join the Staples team as senior VP of merchandising, Staples Europe, effective Aug. 1. Nowak will report to president of Staples Europe John Wilson, and will be a member of the European leadership team.