Trading Partners

Ann Arbor, Mich. -- Borders Group Inc. said Sunday that payment of some bills due at the end of January is being delayed to help the book seller "maintain liquidity" while trying to complete a restructuring of its debt.

Last week, the company received a commitment for $550 million in financing from General Electric Capital, subject to conditions that include securing $175 million from other lenders and continuing to close stores.

ITASCA, Ill. -- Jewel-Osco, a Supervalu-owned company, announced that Keith Nielsen, Jewel-Osco president, has informed the company of his retirement effective at the end of the fiscal year (Feb. 28).

Nielsen’s successor will be Brian Huff, SVP specialty retail for Supervalu. Huff will transition into the position beginning Feb. 7. All operations and business strategies will continue as normal.

Philadelphia -- Destination Maternity, free of the restructuring charges that put a dent into profits last year, said its first-quarter net income more than quadrupled, easily topping Wall Street expectations. The chain reported earnings of $5.2 million from October to December, compared with $1.3 million for the same period in the prior year.

Revenue increased 1.2% to $135.4 million.

HOFFMAN ESTATES, Ill. -- Kmart, LF USA and Latin World Entertainment Licensing announced the launch of a new lifestyle collection by renowned actress Sofia Vergara. Sold exclusively through Kmart, the collection will embody the "Modern Family" star's signature style of glamour and sexiness with an air of approachability, according to a press release.

The collection, which will include sportswear, dresses, handbags, jewelry, and footwear will be available at over 800 Kmart stores nationwide and Kmart.com beginning this fall.

Washington, D.C. -- The National Retail Federation welcomed President Obama’s recognition of the importance of the retail industry to job creation in Tuesday night’s State of the Union address, and pledged to work with the White House on initiatives to promote continuation of the nation’s economic recovery.

By Lara Greden, [email protected]

If you think of Ricky Martin as a one-hit wonder (who doesn’t remember “Livin’ la Vida Loca?”) guess again. Since that catchy pop tune was released more than 10 years ago, Martin became a bonafide superstar selling 65 million records worldwide. Now he has a memoir title Me on the New York Times Bestseller list and an exclusive agreement with Target to serve as a distribution partner for his 12th album, Musica + Alma + Sexo.

ATLANTA -- First Data Corp. announced that it has entered into an agreement with Kohl’s Department Stores to provide payment processing services for the company’s private brand credit card accounts.

Atlanta -- First Data Corp. said Thursday that it has entered into an agreement with Kohl’s Department Stores to provide payment processing services for the company’s private brand credit-card accounts.

The multi-year agreement calls for First Data to provide Kohl’s with credit-card processing, customer analytics, risk-management services and automated customer service workflow tools.

Financial terms of the agreement were not disclosed.

SARASOTA, Fla. -- The Retail Industry Leaders Association (RILA) announced that Bill Simon, president and CEO of Walmart stores, and Steven Preston, president and CEO of OakLeaf Waste Management were named to the RILA board of directors, following the board’s semi-annual board of directors meeting held Sunday in Sarasota, Fla.

Simon replaces Walmart vice chairman and president and CEO of global e-commerce and global sourcing Eduardo Castro-Wright.