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  • Limited Brands temporarily changes name to L Brands

    New York -- A Monday report by Reuters said that Limited Brands has temporarily changed its name to L Brands Inc. The report cited a Friday regulatory filing.

    The operator of Victoria's Secret and Henri Bendel is implementing a pre-planned transition process that was required after the 2010 sale of Limited Stores, LLC.

    The company is expected to announce a new permanent name in the coming months.

  • Barnes & Noble signs CEO to new employment pact

    New York -- Barnes & Noble Inc. signed an employment agreement with CEO William Lynch to remain in his post for another two years, according to a filing with the U.S. Securities and Exchange Commission.

    Lynch will receive the same compensation and benefits as before, but get an additional cash bonus of $1.8 million for his role in attracting investments from Microsoft Corp. and Pearson PLC in forming Nook Media LLC, according to a Reuters report.

  • Report: Publix not interested in acquiring Harris Teeter

    New York -- Despite rumors to the contrary, Publix is not interested in acquiring Harris Teeter, according to The Ledger.

    Publix is in the midst of its first expansion into North Carolina, with plans to open two stores in the Charlotte area in 2014.

    Officials with Harris Teeter recently confirmed that the 208-store chain will consider offers from potential buyers.

  • Reuters: Ron Johnson knew Martha Stewart deal was in conflict with Macy’s

    New York -- A Friday report by Reuters revealed that J.C. Penney CEO Ron Johnson was well aware that the retailer’s deal with Martha Stewart would step on Macy’s toes, but testified in court that the company decided to move forward anyway.

    Attorneys for Macy’s in New York state court on Friday presented Johnson with an email he sent to a Penney board member saying that Stewart would have to break her agreement with Macy’s if Johnson was going to “pull off” a deal with her.

  • Best Buy tops Street as Q4 loss narrows; buyout talks with founder Schulze end

    Minneapolis -- Best Buy Co. said that its loss narrowed in the fourth quarter, helped by improved U.S. sales. In a separate release, the company said that the deadline passed without it having received an acquisition offer from its co-founder, Richard Schulze, who had been considering making a bid for the chain.

    “The company received no such offer and will continue to focus on its transformation for the benefit of all of its stakeholders,” Best Buy said in a statement.

  • Kimco receives subpoena in Wal-Mart probe

    New York -- Shopping center operator Kimco Realty Corp. has received a subpoena in an investigation over possible violations of the Foreign Corrupt Practices Act (FCPA) by Wal-Mart Stores, Reuters reported.

    In a filing with the Securities and Exchange Commission (SEC), the Kimco said it had received the subpoena on Jan. 28 from the SEC’s Enforcement Division. Kimco said it would fully cooperate with the SEC, and that the Department of Justice was conducting a "parallel investigation" with the SEC, according to the report.

  • Wal-Mart’s U.S. chief administrative officer to step down

    New York -- Wal-Mart Stores on Thursday confirmed a report from the Wall Street Journal that its U.S. chief administrative officer, Tom Mars, will step down in March. The company did not give a reason for his departure.

  • Walmex capital spending up

    New York -- Wal-Mart de Mexico expects to spend up to $1.4 billion on investments in 2013. But the chain declined to discuss how many stores it will open.

    The chain did say that it expects to increase total store space by 8% to 9% in Mexico and 6% in Central America this year.

    "We think that the number of stores does not communicate much," said CEO Scot Rank in response to a question by an analyst, Reuters reported.

     

  • Grupo Gigante seeks to buy remaining stake of Office Depot’s Mexican unit

    New York -- Grupo Gigante wants buy the 50% stake in the Mexican unit of Office Depot that it does not already own.

    The Mexican retailer on Thursday said it has offered 8.78 billion pesos ($687.34 million) to buy the stake, Reuters reported.

    In March, Gigante entered into a joint venture with Petco Animal Supplies to open at least 50 stores in Mexico and other Latin American countries over seven years.

     

  • Coach CEO to step down in 2014; to be succeeded by head of international ops

    New York -- Coach Inc. said that its longtime CEO, Lew Frankfort, will step down in January 2014. He will be succeeded by Victor Luis, head of Coach’s international operations, at which point Frankfort will become executive chairman. Coach named Luis president and chief commercial officer in the interim and said he will also join the board.
     

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