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Mac Naughton to headline another investor conference
For the third time in the past five months, Walmart chief merchandising and marketing officer Duncan Mac Naughton is representing Walmart at a major investor conference. Smart move considering expectations of further U.S. same-store sales acceleration has served as a catalyst for Walmart shares, which are trading near a 52-week high.
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Sears Canada finalizes three-store sell-back to landlord
Toronto -- Sears Canada, Inc., an arm of Sears Holdings Corp., said Friday it has completed the transaction with landlord The Cadillac Fairview Corp. to return three stores for $170 million.
The stores – located in Vancouver, Calgary and Ottawa – are slated to be exited by Sears as of Oct 31, 2012. The agreement between Sears and the landlord was first announced in March.