Trading Partners

NEW YORK — Damco announced it has been named a 2012 Partner in Transformation for Sears Holdings Corp. in recognition of its innovative contributions to Sears. Damco is a leading third-party logistics provider specializing in customised freight forwarding and supply chain solutions.

Sears grants the Partners in Transformation award to a select group of supplier companies who have been helping support the transformation of the company through innovation around customers, core retail excellence and financial and operational discipline.

Deerfield, Ill. -- Walgreen Co. said that its same-store sales fell 7% in July as its split with Express Scripts continued to hurt its top line. (The two companies last month reached an agreement to resume doing business, but that doesn't start until Sept. 15.)

The company's pharmacy same-store sales were down 9.7%, while front end sales fell 2.4%. The performance missed analyst expectations.
 

Deerfield, Ill. -- Walgreens and Alliance Boots on Thursday announced the completion of Walgreens initial investment in the strategic partnership following receipt of all required regulatory approvals.

The Walgreens investment consists of approximately $4 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.

Walmart and mom-and-pop retailers are usually at odds with one another, but the issue of credit card swipe fees has Walmart sharing common ground with independent pharmacists.

The National Community Pharmacists Association (NCPA), an organization representing 23,000 independent pharmacies, announced this week that it was rejecting a proposed settlement in the antitrust lawsuit involving Visa, MasterCard and several big name banks.

MINNEAPOLIS — General Mills has expanded its portfolio in Brazil with the acquisition of Yoki Alimentos.

“Today marks a new beginning for General Mills in Brazil,” said Sean Walker, General Mills SVPand president of its Latin America region. “Yoki has fantastic brands that have nourished Brazilian families for decades. We are honored that the family owners of Yoki are entrusting us with this fabulous business and its 5,300 people. We are poised to accelerate our growth in Brazil.”

Lowe’s made an offer, but Rona refused.

The two North American home improvement giants will continue to operate as competitors in Canada, where Lowe’s has been growing organically for the past several years amid rumors that just such an acquisition play was in the cards.

Bentonville, Ark. -- Wal-Mart Stores announced on Monday that the retired chairman of accounting and consulting firm KPMG International has joined its board of directors, effective immediately.

Timothy Flynn, 55, will serve as a member of the retailer's audit committee and becomes the 17th member of Wal-Mart's board.

ATLANTA — Coca-Cola has streamlined its operating structure and the senior leaders for those businesses, the company said.