Trading Partners

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."

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.

Plano, Texas – J.C. Penney will no longer be included on the Standard & Poor’s 500 Index.  

Dow Jones Indices, which manages the S&P 500 as well as many other financial indices, said on Nov. 22 that Allegion, an Ireland-based provider of mechanical and electronic security products, will replace Penney on the S&P 500. Penney will join the S&P MidCap 400. The change will become effective after the stock market closes on Nov. 29.

Walmart International president and CEO Doug McMillon was given the nod over Walmart U.S. president and CEO Bill Simon to succeed Mike Duke as president of Wal-Mart Stores, Inc., the company announced Monday morning.

McMillon, 47, will join the board effective immediately, and succeed Duke, 63, on February 1, when Walmart’s new fiscal year begins. McMillon’s successor will be named before the end of the fiscal year, according to the company.

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.

Former Accenture CFO Pamela Craig has joined the Walmart board and will serve on the retailer’s audit committee involved in a two year old investigation related to the Foreign Corrupt Practices Act.

Lowe's Canada has restructured its senior leadership team ahead of plans to continue growing its footprint in Canada.

Green Bay, Wis. -- H.J. Martin and Son helped J.C. Penney add two new in-store shops: Disney and GiggleBaby.

Fifty crews of two people – 100 total – from H.J. Martin were dedicated to the project, which spanned two-and-a-half weeks from mid-September until early October. In all, H.J. Martin performed the work in 218 Penney stores across the United States, with the exception of the south and southeast.