Supply Chain & Merchandising

New York -- Best Buy Co. is laying off about 650 employees from its Geek Squad division, according to a report by KARE 11.

The report said the company is eliminating positions that service appliances and televisions in customer's homes. Best Buy said it is not getting rid of home service, but is restructuring it and realigning its work force across all service channels.

If laid off workers are unable to find another position within Best Buy, their last day will be Aug. 1, the report said.

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.

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

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.

Greenwich, Conn. -- Private investment firm Starwood Capital Group announced that an affiliate of Starwood has completed its acquisition of a 90% majority interest in seven U.S. shopping centers from the Westfield Group.

Westfield retained a 10% minority interest in the portfolio.

Starwood also announced that it has formed a new subsidiary, Starwood Retail Partners, to be based in Chicago, to oversee the management of the newly acquired assets and has named Scott Wolstein, co-founder of DDR, as its CEO. 

HAMILTON, Bermuda — Bacardi Limited has named Gianpaolo Perego as regional president of Latin America with responsibility for leading all operations in the region for the internationally known portfolio of premium spirits. Perego will manage the execution of the overall strategy for the Latin American region, as well as the general management of a diverse business comprising 19 countries. In this role, he will also be a member of the Bacardi Leadership Team. The appointment takes effect July 9.

Greensboro, N.C. -- High-end grocer The Fresh Market is making a stand in California, as it prepares to open its first three stores in the state.

According to a Tuesday report by Investor’s Business Daily, Fresh Market has signed leases and begun construction on one store in Santa Barbara, one in Palo Alto and a third in Roseville. The grocer said it expects to open its first store in the state either late this year or early 2013.

FRAMINGHAM, Mass. and PLEASANTON, Calif. — Fashion discounters continue to thrive in this economy, with TJX and Ross Stores continuing to report impressive monthly sales results.

TJX reported June sales of $2.3 billion, an increase of 9% over the $2.1 billion achieved during the same period last year. Consolidated comparable-store sales for the five-week period increased 7% over last year.