Corporate Governance

Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.

Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.  

Amsterdam, Netherlands – Dutch specialty fashion retailer Mexx, which operates 800 stores across 55 countries, has retained Gordon Brothers Group and Hilco Merchant Resources to begin going-out-of-business sales at all Mexx retail locations throughout Canada. Mexx currently operates 95 retail locations across Canada.    

Los Angeles – Change is occurring at American Apparel Inc., and it may be coming from external as well as internal sources. The board of directors of American Apparel has confirmed that it has received an indication of interest to acquire the struggling company for $1.30 to $1.40 per share.    The identity of the potential buyer has not been disclosed, but in a press release American Apparel said it “takes these matters seriously, and will evaluate this proposal in the ordinary course of business. 

Framingham, Mass. – About 1.16 million customer payment cards may have been exposed in a security breach at Staples Inc. earlier this year. In an update on the breach situation, Staples said that criminals deployed malware to some POS systems at 115 of its more than 1,400 U.S. retail stores, providing access to data from purchases made from July 20 through Sept. 16, 2014. 

Gap has appointed a new CEO. Art Peck, currently president of the company’s growth, innovation and digital division, will succeed Glenn Murphy as the company’s next executive chief, effective Feb. 1, 2015.

The company said that after seven years in his role, Murphy made the personal decision to leave the company at the end of the fiscal year. Under Murphy’s stewardship, the company acquired new brands and globalized its business by expanding store locations from 10 to 50 countries, including China.

CVS has developed an omnichannel strategy for this holiday season that focuses on targeting customers online, on mobile and in stores.

Consumers can follow @CVS_Extra on Twitter to learn about upcoming promotions and ways to win a variety of gift items through special contests. Additional holiday savings and tips can be found on the CVS Facebook page.

A federal judge has ruled that customers suing Target for last year’s data breach may move forward with their claims.

U.S. District Judge Paul Magnuson in St. Paul, Minn., dismissed claims by plaintiffs in certain states but largely denied Target's request to toss out the proposed class action lawsuit.

Magnuson rejected Target's argument that the consumers lacked standing to sue because they could not establish any injury.

Despite reporting a 33% year-over-year decline in profits during the third quarter, Pier 1 Imports CEO Alex Smith said he is confident in the chain’s value proposition going forward in 2015.

Calvin Klein is aggressively expanding its e-commerce capabilities in an effort to directly sell the brand in more than 20 countries by the end of 2016, the company announced.