Corporate Governance

Kroger is expanding its presence in one of the nation’s most competitive retail markets.

The grocery retailer plans to open five new Marketplace stores and expand the size of three existing locations in North Texas in the next two years — a capital investment of $150 million. The company also plans to open multiple fuel centers and remodel existing properties. The growth initiative will create more than 1,700 full- and part-time career opportunities that offer competitive pay, healthcare plans, retirement options, product discounts and other incentives.

Leading Internet grocer Peapod and supermarket chain Giant Food Stores have opened a new fulfillment center in Coopersburg, Pa.

"Peapod by Giant has seen exciting growth in the Philadelphia area and we are delighted to partner with our sister grocer, Peapod, to expand service to additional zip codes in the Giant trade area," said Rick Herring, president. "As always, we will strive to provide a wide selection of well-priced, top quality, fresh products with the ease of online shopping and home delivery."

Aaron's has promoted VP of finance Steven A. Michaels to VP of strategic planning and business development. Additionally, Robert W. Kamerschen, SVP and general counsel, will add corporate secretary to his responsibilities, and Kimberly R. Rivera is joining the company as VP of learning and development.

"This is an exciting time for all members of Aaron's as we continue to strengthen our management team and build a platform for sustainable growth," said Ronald W. Allen, Aaron's chairman, president and CEO.

Looking to tap into the loyalty of NASCAR fans, Sherwin-Williams has deepened an existing relationship with the racing organization to become the official automotive paint of NASCAR.

Sherwin-Williams is already the official paint of NASCAR and the automotive designation takes effect January 1.

Toronto – Canadian Tire reported strong financial results for the third quarter of fiscal 2013. These include an 11% increase in net income, to $139 million from about $128 million.

In addition, revenue grew to $2.83 billion from $2.7 billion. Consolidated same-store sales grew 3.1% across the Canadian Tire, FGL Sports, and Mark’s banners.

Houston – The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse. According to the New York Times, Eminence Capital wants Men’s Wearhouse to reconsider the $2.3 billion buyout offer it recently rejected from Jos. A. Bank.

Eminence reportedly believes Jos. A. Bank is willing to make a higher bid if Men’s Wearhouse will consider it. The fund manages about $4.5 billion. Neither Eminence nor Men’s Wearhouse has commented publicly on the purchase.

New York – Retailers across a variety of verticals reported improved same-store sales during October 2013, compared to the same month in the previous year. Even embattled department store retailer J.C. Penney saw its same-store sales grow for the first time since December 2011, and specialty and apparel retail conglomerate L Brands and discount club retailer PriceSmart reported particularly impressive same-store sales results.

Austin, Texas - Multichannel selling is a reality for a majority of small-to-medium sized retailers, but payment processing capabilities lag far behind. According to a new research study commissioned by SecureNet Payment Systems and conducted in partnership with First Annapolis Consulting, more than 60% of retailers surveyed already accept payments in more than one channel, but are not well served by the payments industry today.

Columbus, Ohio – Lane Bryant is opening four stores at different shopping centers on Nov. 8. These locations include a refreshed store at Eastwood Towne Center and a new store at The Marketplace at Delta Township in Lansing, Mich., as well as new stores at the Clackamas Promenade in Clackamas, Ore., and the Epps Bridge Center in Athens, Ga.

Lane Bryant operates more than 800 full-line and outlet stores in 48 states nationwide.

Washington, D.C. -- Retailers, advertisers and marketers called on Congress today to involve the Federal Trade Commission in efforts to eliminate frivolous patent lawsuits, saying vague letters sent out by “patent trolls” demanding licensing fees amount to unfair and deceptive practices. Patent trolls are companies formed to develop potential patent-infringement lawsuits without manufacturing their own products.