News

Toronto -- Canadian Tire Corp. plans to spin off most of its real estate assets into a C$3.5 billion (approximately U.S. $3.49 billion) real estate investment trust, with an initial public offering expected later this year. The proposed new REIT would acquire a majority of the company's owned real estate, including approximately 250 properties comprised largely of Canadian Tire Retail stores, Canadian Tire anchored retail developments and one distribution center.  

Chicago -- Dillard's has selected OpinionLab to extend its omnichannel “Voice of Customer” program including its digital, mobile and in-store experiences, with precise insight into what its customers want and need.

SALT LAKE CITY — Online discount retailer Overstock.com held its annual meeting and made changes to its board of directors.

Stockholders re-elected Joseph J. Tabacco and elected Jonathan E. Johnson III to the company's board for terms of three years each. The board also named Johnson as its new executive vice chairman.

Central Garden & Pet's CEO is not settling for the company's margins and bottom line results, despite reporting second-quarter net sales of $498.2 million, a 7% increase over the comparable fiscal 2012 period.

The company's net income for the second quarter ended March 30 was $22.2 million, compared with net income of $21.6 million in the second quarter of 2012. 

SALT LAKE CITY — As part of its philanthropic efforts, Walmart is holding a fundraiser between now and Friday, June 21 benefiting Children’s Miracle Network Hospitals.

Walmart is inviting customers and Sam’s Club members to make a $1 donation or more at the retailers’ more than 4,600 U.S. locations. Participants can add a “Miracle Balloon” donation during checkout, and 100% of all funds raised will go directly to the member hospital in the area. 

DALLAS — Kimberly-Clark has named Karen Leets as its new VP and treasurer, succeeding Nancy Loewe, who will continue to serve as the company's chief strategy officer. Leets will report to SVP and CFO Mark A. Buthman.

In her new role, Leets will be responsible for the entire treasury practice at Kimberly-Clark, including capital markets, cash planning, global cash and foreign exchange management, real estate and banking and rating agency relationship management.

New York -- Britain’s Marks & Spencer (M&S) has completed the roll out of contactless payment to 644 of its United Kingdom stores, including its railway and airport franchise locations. The roll-out, which followed a successful trial in 25 London stores last summer, cements M&S’ position as the U.K.’s leading contactless retailer, processing over 230,000 contactless transactions every week.

GRAND RAPIDS, Mich. — Meijer is marking a special milestone Thursday, May 16, when it opens its 200th store in Swartz Creek, Mich. The store opening will create more than 200 jobs for the community. 

To celebrate the event, the family-owned retailer will hold a ribbon-cutting ceremony at 10 a.m. at the store, located at 4141 Morrish Rd. Meijer officials will be on hand, and the retailer will make presentations to the Swartz Creek Food Bank and the Swartz Creek Civic Center enhancement project.