Legislative, Regulatory & Legal

NEW YORK — TLB Merger Sun, an affiliate of Sycamore Partners, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock, and the associated stock purchase rights, of The Talbots Inc. for $2.75 per share, net to the seller in cash, without interest, and less any applicable withholding taxes, to 5 p.m., New York City time, on Friday, July 27, unless further extended.

New York -- Macy's on Friday won a preliminary injunction against Martha Stewart Living Omnimedia that would prevent it from selling some of its products at the chain.

Macy's Inc. sued Martha Stewart Living in January after J.C. Penney acquired a 16.6% stake in Martha Stewart Living and announced plans in December to open Martha Stewart mini-shops beginning next year. Macy’s said that it had exclusive rights to certain categories of the Martha Stewart brand until 2018.

DOWNERS GROVE, Ill. — A Grocery Manufacturers Association executive is taking on a new role at Hillshire Brands.

Dennis Belcastro has been named VP government and industry affairs for Hillshire Brands and will be responsible for developing and implementing the company's engagement strategy with federal, state and local elected officials, regulatory agencies and key policy-makers, in addition to managing strategic customer and industry events. Belcastro officially steps into his new role on July 30.

AMSTERDAM — A division of Ahold USA has completed its acquisition of stores in the greater Philadelphia area.

Giant-Carlisle officially closed its acquisition of 15 Genuardi's stores, a subsidiary of Safeway. The deal was previously announced in January and was approved by the Federal Trade Commission last month.

As previously reported, during the conversion process, five stores at a time will temporarily close for about a week. The three-phase staggered approach is expected to be completed on July 22.

Santa Ana, Calif. -- A report released Thursday by the New York Times said that three ex-managers of Wet Seal have filed a federal race discrimination lawsuit, claiming bias against African-American employees. The trio alleges the retailer has a high-level policy of firing and denying pay increases and promotions to blacks because they did not fit the retailer’s “brand image,” according to the Times report.

New York -- The Retail Industry Leaders Association (RILA) urged the International Longshoremen’s Association and the United States Maritime Alliance to reach a contract agreement well in advance of the Sept. 30 deadline in order to prevent a disruption to the flow of goods.

The ongoing labor negotiations affect 14 East and Gulf Coast ports, which together account for 95% of all containerized shipments to the Eastern seaboard.

Allegations of worker abuse prompted Walmart to suspend a small seafood supplier earlier this week pending the outcome of an investigation, according to a Reuters report.

New York -- Ikea has been rebuffed by India on a request to relax rules on buying goods locally, Reuters reported, citing a government source. The rebuff is likely to delay Ikea’s entry into the Indian retail market.

In June, Ikea said it would invest approximately $1.86 billion and open 25 stores in India. But the chain was seeking a 10-year window to comply with India’s rule that foreign retailers source 30% from local small and medium-sized firms. The requirement is seen by overseas companies as a hindrance to investment.