Trading Partners

Wayne, N.J. – Toys “R” Us opened its first stores in Beijing last weekend, marking its continued expansion across China.

PLEASANTON, Calif. — A new era is beginning at Ross Stores, as the company set out plans to elect a new CEO in 2014. At the same time, the company continues to put its trust behind vice chairman and CEO Michael Balmuth, agreeing to extend Balmuth's employment agreement through May 2016.

Minneapolis -- Best Buy Co. co-founder Richard Schulze said Thursday that he is staying the course on his plan to acquire the company and take it private, adding that he has heard from a lineup of private equity firms prepared to make "significant commitments."

In a letter to the Best Buy board, Schulze indicated that he'd like to create a group and put forth a fully financed plan.

Last June, two organizations — Retail Industry Leaders Association and International Council of Shopping Centers — co-sponsored a sustainability initiative that ultimately would set the bar for landlord/tenant partnerships.

The last 14 months haven’t been without bumps. Forging positive, mutually beneficial programs that involve cooperation from shopping center owners and their retail tenants has long been one of this industry’s greatest — and most frustrating — challenges.

IRVING, Texas — Michaels Stores has recognized 12 vendor partners for their contributions to Michaels' success over the past year.

Dubai, India -- A Monday report by Reuters said that French retailer Auchan has entered into a franchise agreement with Max Hypermarket, India.

Max operates 13 hypermarkets in India, which will be rebranded as Auchan stores in early 2013.

The pair said they plan to open 12-15 new stores annually across India. Because Max Hypermarket India Ltd is controlled by retail and hospitality company Landmark Group, which operates hypermarkets under the Max brand only in India and therefore is not restricted under foreign ownership regulations.

Sharon, Pa. -- Casual-dining chain Quaker Steak & Lube said Monday it has opened its 50th restaurant in Lakewood, Ohio, and is on track to open 10 additional restaurants this year. The brand also will be expanding to six new markets with five franchise groups over the next several years.

"Over the past six months, we signed agreements to develop 11 new restaurants around the country, including three corporate locations in Texas," said John Longstreet, president and CEO.

New York -- Martha Stewart Living Omnimedia Inc. filed a notice of appeal in a lawsuit by Macy's Inc. in New York State Supreme Court in Manhattan, Bloomberg reported.

Macy’s sued Martha Stewart Living in January to stop the company from executing a sales agreement that it announced in December with J.C. Penney Company.  Macy’s said it had the exclusive right to sell Martha Stewart-branded products in certain categories.