Trading Partners

WAYNE, N.J. – Toys“R”Us announced that it has named the former head of one of the world's largest toy companies to serve as president of its U.S. business. Neil Friedman, who most recently served as president Mattel Brands, will now oversee all merchandising, marketing, store operations, merchandise presentation, global sourcing and product development, as well as merchandise planning and allocation for Toys"R"Us' 866 stores and online business in the United States.

Boca Raton, Fla. -- Office Depot said it will restate its finances for the second and third quarters of fiscal 2010 as well as for the full fiscal year. The company said the U.S. Internal Revenue Service denied its claim for an $80 million benefit related to taxes.

The removal of the benefit, which had already been recorded in financial statements, will result in a loss for 2010 of $46 million. Previously the company said it earned $33 million.

New York City -- Urban Outfitters has been sued by a shareholder who alleges company officials misled investors before the stock declined, Bloomberg reported.

The retailer wrongly led shareholders to believe business was going well until March 7, when it reported earnings of 13% less than analysts had suggested, Edward Koller III claims in a lawsuit filed yesterday in federal court in Philadelphia, the report said. Shares fell 17% the next day, Koller said.

The PFresh initiative at Target, which results in the addition of fresh food and an expanded offering of consumables, arrived in more Target discount stores last month, further elevating the competitiveness with Walmart supercenters.

FRAMINGHAM, Mass. -- Staples announced that it has formed a new strategic alliance with one of the leading Swiss office products companies, Büro Schoch Direct AG. Within Switzerland, Staples and Büro Schoch Direct will work together exclusively on international accounts and collaborate to exchange best practices, the company reported.

Washington, D.C. -- Combined Properties announced that Jessica Berets has joined the company as Assistant General Counsel. 

Berets will be responsible for drafting, negotiating and consummating a variety of legal documents, including lease agreements with tenants in the commercial retail real estate portfolio managed by Combined Properties, and providing advice and counsel to the company's leasing, construction and property management departments.
 

The Global Food Safety Initiative (GFSI), managed by The Consumer Goods Forum, announced that Yves Rey, corporate quality general manager Danone, has been appointed chairman elect to replace current chairman, Jürgen Matern, Metro AG, once he completes his mandate in February 2012. Yves Rey will become the sixth chairman of the Global Food Safety Initiative. 

WASHINGTON --  The National Retail Federation has a new ally in its fight for swipe-fee reform. The group announced that Americans for Financial Reform, a coalition focused on financial services industry reform that includes the Consumer Federation of America, the U.S. Public Interest Research Group and a number of other consumer organizations among its 250 national, state and local members, asked Congress Wednesday to reject proposals to delay swipe-fee reform.