News

SMS Assist has appointed Michael L. McMath as VP of client services for the Chicago-based technology-driven facilities maintenance and management company.

McMath previously held senior positions at Walmart, global aluminum producer Alcoa and multinational food and support services company Compass Group.

Green Mountain Coffee Roasters plans to open its first Keurig Store this November in the Burlington Mall in Burlington, Mass.

Keurig Store shoppers will be able to test Keurig brewers and beverages from Keurig K-Cup, Keurig Vue and Keurig Rivo systems. In addition to providing the full line of Keurig brewers, the Keurig Store will offer on-site demonstrations, special promotions, new product offerings and unique Keurig accessories.

BJ's Wholesale Club has selected the elementary schools that are to benefit from the company's 2013-14 Adopt-a-School Program.

In its eighteenth year, the program has served more than 2,575 elementary schools across the company's 15-state footprint. Each school chosen this year will receive a $500 check to use for field trips, special events, new equipment or curriculum enhancements, as well as a one-year membership to the wholesale club.

Toys”R”Us reported financial results for the second quarter ended Aug. 3 on the heels of a special event the retailer held at its flagship location in the heart of New York City's Time Square and which detailed its initiatives as it prepares to tackle the holiday shopping season.

Starbucks has promoted CFO and chief administrative officer Troy Alstead to CFO and group president of the company's global business services. 

Alstead’s promotion is a result of his increasing responsibilities as well as an acknowledgment of the complexity of his role overseeing Starbucks global financial, technology and supply chain operations and ensuring that the company’s overall business infrastructure is optimized to support the company’s global growth.

Hoffman Estates, Ill. -- Sears Holdings Corp. on Monday said it plans to obtain a senior secured term loan facility of up to $1 billion to help lower borrowings under its revolving credit facility.

The company said that the term loan would be issued under its existing credit agreement, which provides for a $3.28 billion revolving credit facility.

The term loan is expected to mature in June 2018.

New York -- The Ontario Superior Court of Justice has approved Loblaw Cos.’ acquisition of Shoppers Drug Mart.

Completion of the arrangement remains conditional on compliance with the Competition Act and certain other closing conditions customary in transactions of this nature. The transaction is expected to be completed before the end of first quarter 2014.

Have you heard of Silicon Beach? No, it isn’t an offshoot of Silicon Valley. It is a phenomenon emerging in West Los Angeles, home of The Promenade at Howard Hughes Center, a mixed-use development with office, residential, hotel, retail, restaurant and entertainment offerings.

Silicon Beach has taken its name from Silicon Valley — both are notable for the number of creative business start-ups.

New York – The Deloitte Consumer Spending Index, which tracks consumer cash flow as an indicator of future consumer spending, slightly dipped in August.

New York – Gap Inc. is launching a fall global marketing campaign called “Back to Blue” that features two videos with musicians Dhani Harrison and Alexa Ray Joel, which consumers can watch on TV, desktops and smartphones/tablets.