Trading Partners

SALT LAKE CITY — O.co, formerly Overstock.com, announced that its CEO, Dr. Patrick Byrne, was named executive of the year at the 2011 American Business Awards. O.co was also named best overall company (up to 2,500 employees).

"This is a great achievement for O.co," Byrne said. "I thank and applaud all my colleagues on this great achievement."

Toano, Va. -- Hardwood flooring retailer Lumber Liquidators said Wednesday that Richard D. Tadler will be stepping down from the board of directors, effective June 30.

Tadler joined the board in 2004 when TA Associates, the private equity firm of which he is a managing director, originally invested in the company.

TA Associates divested its interest in Lumber Liquidators in 2009, leading to Tadler’s decision to step down.

Deerfield, Ill. -- Walgreen Co. said Tuesday it will terminate a $5.3 billion-per-year relationship with Express Scripts.

Walgreen reported that contract negotiations with Express Scripts have failed, and it will stop participating in the St. Louis company's prescription plans starting Jan. 1. Express Scripts processes about 90 million prescriptions that will be filled at Walgreen stores in fiscal 2011, which will bring Walgreen about $5.3 billion in revenue.

Pittsburgh -- GNC Holdings announced Monday that its president and chief merchandising and marketing officer Beth Kaplan has resigned the company.

After three-and-a-half years in the position, Kaplan cited a desire to pursue personal interests as reason for the departure. She will also resign as a director of the company.

Joe Fortunato, CEO, will reassume the title of president of GNC.

In related news, Amy B. Lane has joined GNC Holdings’ board of directors, replacing Kaplan.

Cincinnati -- Macy’s has entered into a $1.5 billion bank credit agreement that will mature on June 20, 2015. It replaces a previous $2 billion facility, which was set to mature on August 30, 2012. Joint lead arrangers for the new agreement are J. P. Morgan, Bank of America Merrill Lynch, Credit Suisse, U.S. Bank and Wells Fargo.

NEW YORK— Winn-Dixie Stores has filed suit against Dolgencorp, the parent company of Dollar General. The grocer confirmed that the suit was filed because Dolgencorp “knowingly violates legal, noncompete provisions of Winn-Dixie leases in shopping centers in which both businesses operate,” Winn-Dixie told the Jacksonville Business Journal in an email.

BENTONVILLE, Ark. — Wal-Mart Stores announced that it has completed its investment for a 51% stake in South African-based Massmart Holdings Limited for ZAR148 per Massmart ordinary share.

Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity.  

Newport Beach, Calif. -- CB Richard Ellis announced Monday that Scott Riddles has joined the company’s Western Division Retail team as a senior VP. Riddles will be joined by his current team – Derek Fitch, Rob Crumly and Ryan Riddles – and all will be based in the firm’s Newport Beach office.

Riddles comes to CBRE from SRS Real Estate Partners, formerly Staubach Retail, where he was a founding partner.