Corporate Governance

PetSmart fetches buyer for $8.7 billion
After weeks of exploring “strategic alternatives,” PetSmart has agreed to be acquired for about $8.7 billion by a consortium led by London-based BC Partners.

"We are pleased to have reached this agreement with BC Partners, which maximizes value for all of our shareholders and best positions PetSmart to continue to meet the needs of pet parents," said Gregory Josefowicz, chairman of PetSmart. "This transaction represents the successful conclusion of our extensive review of strategic alternatives."
USA Today honors Porch.com CEO
Porch.com CEO Matt Ehrlichman has been named the USA Today Entrepreneur of the Year for 2014.

Key criteria of the award included exhibiting significant growth this year and solving a consumer problem.

Ehrlichman won the honor after a team of USA Today editors sorted through 10 finalists.

Heroes ring in the holidays at Mall of America

More than 3,200 military members, veterans and their families attended the Holiday for Heroes event at Mall of America.

The mall, working with Beyond the Yellow Ribbon, invited attendees to enjoy unlimited rides at Nickelodeon Universe, free breakfast at Hard Rock Cafe, a military resource fair, visits with Santa, an ugly sweater photo booth and prizes valued at more than $200.

This is the first year Mall of America has hosted Holiday for Heroes.
Sherwin-Williams paints store No. 4,000

After announcing new partnerships with HGTV and Lowe’s, as well as three consecutive quarters of record growth, Sherwin-Williams is celebrating another milestone.

The company announced it is opening its 4,000th store in Sewickley, Pa.
Insights: Why Retailers Should Act Now to Re-evaluate their Private Label Cards

By Hemal Nagarsheth and Ramesh Siromani Consumers view the “right” payment method, (accessing points, discounts, and special offers,) as a critical part of the purchase process – good news for branded private label cards which allow retailers to cultivate loyalty, improve operating results, and gain sustainable competitive advantage.
Insights: Supreme Court Win for Employers

By Patrick Bannon, Rebecca DeGroff, Noah Finkel, Richard Alfred (Seyfarth Shaw LLP) The Supreme Court has unanimously that the Fair Labor Standards Act does not require employers to pay employees for time spent passing through post-shift security screening.
Walmart, Kroger, and Target among chains working with University of Florida team to curtail shoplifting

GAINESVILLE, Fla - More than 40 major retail chains, including The Home Depot, Walmart, Kroger and Target, formed a specialized research council to facilitate the use of science to curtail theft and violence. As part of this effort, A specialized University of Florida research team has been formed to interviews offenders, analyzes large datasets, and conducts field experiments to adapt and devise new crime control methods and technologies.
Retailers upset with “harmful” NLRB ruling

Arlington, VA - Retailers on Friday criticized the National Labor Relations Board decision that gave the go-ahead to new laws to expedite the union election process. The amendments, to go into effect April 14, provide for electronic filing and transmission of election petitions and other documents; eliminates or reduces unnecessary litigation; and allows parties to consolidate election-related appeals to the board into a single appeals process, the NLRB said in a statement.
Toys ‘R Us shrinks Q3 net loss with lower taxes, interest

Wayne, N.J. – Toys ‘R Us Inc. shrunk its net loss to $213 million in the third quarter of fiscal 2014 from $605 million in the year ago, helped by expense controls and a less intense promotional enviroment. The retailer, however, did not provide an outlook for its holiday performance.
Fitch Ratings: RadioShack’s cost-cutting not likely to prevent debt restructruing

NEW YORK--(BUSINESS WIRE)--Fitch Ratings believes that the massive cost cutting plan outlined today by RadioShack is likely not sufficient to forestall a restructuring of the company's debt in the near term. Fitch currently rates RadioShack Corporation's (RadioShack) Long-term Issuer Default Rating (IDR) 'C'. A full list of ratings is shown below.
Simon to open Tampa Premium Outlets Oct. 2015

Indianapolis – Simon has broken ground on Tampa Premium Outlets in Wesley Chapel, Florida. Opening in October 2015, the multi-million dollar project will bring a diverse mix of more than 110 retailers with 441,000-sq.-ft. of leasable space. It will also include a a food pavilion with multiple dining options.
Cost Plus World obtains inventory visibility with GT Nexus

Oakland, Calif. - Cost Plus World Market has renewed its use of the GT Nexus platform, providing real-time visibility into global inventory movement and performance information. Finance, sourcing and logistics departments are networked over a single cloud platform, connecting more than 1,000 suppliers and logistics providers to collaborate on production and delivery of goods.