Trading Partners

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.

Bentonville, Ark. – Wal-Mart is considering entering the bidding for Hong Kong-based grocery chain ParknShop, Reuters reports. Wal-Mart is currently exploring options to enter the initial bidding process for ParknShop, which closes Aug. 16.

ParknShop is owned by Hutchison Whampoa Ltd., which in turn is owned by Li Ka-shing, reputedly the wealthiest man in Asia. The chain may be valued as high as $4 billion.

Wal-Mart, which has not commented publicly, said last year it would open 100 new stores in China by 2015.

By Adam Siegel, VP sustainability and retail operations, Retail Industry Leaders Association [email protected]

Menomonee Falls, Wis. – Law firm Levi & Korsinsky has commenced a class-action lawsuit against Kohl’s Corporation in the United States District Court for the Southern District of New York. The suit has been filed on behalf of investors who purchased Kohl's commons stock during the period between February 26, 2009 and September 13, 2011.

IRVING, Texas — The relationship between retailers and their suppliers are of paramount importance, and Michaels Stores marks that relationship every year at its annual partner conference, where the company recognizes its top partners at its Vendor and Supply Chain Partner of the Year Awards.

Michaels recognized the contributions of 12 vendor and supply chain partners to the retailer during the past year.

Boca Raton, Fla. – Office Depot sent its shareholders a letter this morning urging them to vote for its 10 nominees for the board of directors at its annual shareholders meeting on Aug. 21. The letter says that nominees from activist investor Starboard Value LP could disrupt progress and momentum in the ongoing OfficeMax merger and also prevent future synergies from the merger as well as make excessive cuts in critical business functions.

Officer Depot sent a similar letter to its shareholders on July 29.

Itasca, Ill. -- Jewel-Osco has appointed Scott Hays as VP operations for the Chicagoland supermarket chain.

Most recently a district manager with Albertsons LLC’s Southern division, Hays will lead the operations team to support Jewel-Osco’s marketing and merchandising initiatives, including the company’s upcoming remodels and opening their five newly acquired Dominick’s locations.

Boca Raton, Fla. – Office Depot has filed a presentation with the Securities and Exchange Commission (SEC), which the retailer says demonstrates the importance of shareholders electing its board’s nominees at the company’s annual meeting on Aug. 21.