Trading Partners

Pleasanton, Calif. -- Safeway Inc. announced it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's, Inc. Roundy's will take possession of the stores during a transition period that will take place over the next two months.

Williamsville, N.Y. -- Tops Friendly Markets, a leading full-service grocery retailer in upstate New York, Northern Pennsylvania, and Western Vermont, announced that the previously announced acquisition of Tops Holding II by a group of senior managers of the company led by Tops president and CEO, Frank Curci, closed on Dec. 1.

While owners and developers are redeveloping, expanding and beginning to plan new developments across the Northeast, property surpluses created by the recession remain. Where are these surpluses? How will they be disposed of? Chain Store Age asked Andy Graiser, co-president of A&G Realty Partners, to talk about disposition today in the Northeast. Graiser is a property disposition expert with more than 25 years of experience with retail real estate.

Characterize surplus retail real estate in the Northeast.

Kimberly-Clark Professional has named Tim Feeheley as VP of Kimberly-Clark Professional North America. Feeheley succeeds Richard Thorne, who recently was chosen to lead Kimberly-Clark Professional's Asia-Pacific Region.

New York – The Jones Group has reportedly set Dec. 1 as a final deadline for a buyout bid from Sycamore Partners. According to Women’s Wear Daily, with the assistance of Citi Jones Group has gone through an extensive auction process which at times included KKR & Co. and G-III Apparel Group Ltd.

Pittsburgh – The board of directors of GNC Holdings has authorized a multi-year program to repurchase up to an aggregate $500 million of the company's Class A common stock. The authorization is effective immediately.  The GNC may finance any repurchases with cash, potential financing transactions, or a combination of the foregoing.  

New York – Aeropostale Inc. has adopted a poison pill that would be set into motion if a stockholder buys 10% of the company.  

The struggling retailer said it was not adopting the plan, effective November 26, 2013, in response to any takeover proposal. Rather, the plan aims to provide stockholders with adequate time to fully assess a takeover bid, and, if appropriate, allow the board time to explore alternatives to maximize stockholder value, the company said.

Fremont, Calif. -- Men's Wearhouse has turned the tables on Jos. A. Bank Clothiers, with a proposal to acquire its one-time suitor for approximately $1.54 billion. Men's Wearhouse is offering $55 per share for Jos. A. Bank, which represents nearly a 9% premium to the company's $50.32 Monday closing price.

Jos. A. Bank made an unsolicited $2.3 billion bid in early October for Men’s Wearhouse, which rejected the offer, calling "opportunistic" and "inadequate."

Suffern, N.Y. -- David Jaffe, president and CEO of Ascena Retail Group, has been named the National EY (Ernst & Young) Entrepreneur of the Year Family Business Award of Excellence winner, recognized for building a company with multiple retail brands.

San Bernardino, Calif. -- Stater Bros. Markets has announced the promotion of David Harris to the position of executive VP finance, CFO and principal accounting officer of Stater Bros. Markets, effective Nov. 25.
 
Harris joined Stater Bros. in 2009 as VP finance. In June 2011 he was promoted to senior VP finance, and in 2012 he was promoted to senior VP finance, CFO and principal accounting officer.

Harris reports to Jack H. Brown, chairman of the board and CEO.