News

London -- Wm. Morrison Supermarkets PLC said Thursday that it has acquired a 10% stake in U.S. online grocer FreshDirect, based in New York City.

According to Morrison, the U.K. fourth-largest supermarket chain, the acquisition marks its debut in the online food market.

Morrison has also announced plans to test a c-store format and to expand its grocery store counts in order to increase its presence in the U.K grocery market.

PITTSBURGH – Shortly after reporting a 16% increase in continuing operations for its fourth quarter ended Jan. 29, American Eagle Outfitters, announced that its CEO, James O’Donnell, has informed the board of directors of his intention to retire, and the company has initiated a succession process to be jointly led by O’Donnell and the board. American Eagle said O’Donnell will continue with the company as CEO until a successor is named and through an orderly transition period.

MENOMONEE FALLS, Wis. -- Kohl’s Department Stores announced the grand opening of nine new stores across seven states, which the company said will create more than 1,200 jobs.

The new stores were opened Illinois, New York, South Dakota, Texas, Virginia, Washington and Wisconsin. In addition, Kohl's plans to open a total of approximately 40 new stores in 2011. The company said it also plans to remodel approximately 100 stores in 2011, an 18% increase from 2010.

PLEASANTON, Calif. — Safeway on Tuesday said that it expects to earn $1.60 to $1.80 per diluted share during the quarter, after the company's board approved a $1.1 billion dividend from Canada to the United States.

 The dividend, Safeway said during its 2011 investor conference, will be used to pay off $600 million of U.S. debt, and the company will use the remainder of the dividend for share repurchases.

EL SEGUNDO, Calif. -- Fresh & Easy Neighborhood Market has announced the availability of 27 new exclusive California wines. The new wines, which the company said are sourced from some of the finest vineyards in California's premium wine growing regions, are broken into seven new lines and retail from $3.99 to $19.99.

EL SEGUNDO, Calif. -- Robert Eckert, chairman and CEO of Mattel, will be presented the community leader award at the Exceptional Children’s Foundation's 65th Anniversary Gala. The recognition acknowledges Eckert’s leadership and ongoing commitment to shaping the development of generations of children, inspiring creativity and innovation and for demonstrating what's possible through a world of play, Mattel reported.

MINNEAPOLIS -- Target Clinic plans to open eight new locations in 2011. The in-store centers offer treatment for minor illnesses and injuries, skin treatments, vaccinations, tests and screenings, which are administered by health care professionals.

The new clinics will open in Target stores in the Twin Cities, Chicago and Ft. Lauderdale-Davie areas by the end of July.

AisleBuyer, the mobile self-checkout and commerce solutions provider, announced the hiring of three new VPs. Jeremy Laughlin is the name most likely familiar to those in the retail industry as he spent time with Best Buy and Staples and was most recently with NCR where he oversaw implementation of a $1.5 million pilot self checkout pilot program with a Fortune 100 retailer. 

WASHINGTON -- Gap Inc. announced that it has received the International Center for Research on Women (ICRW) Champions for Change Award for Innovation in recognition of the company’s P.A.C.E. (Personal Advancement and Career Enhancement) program.  This workplace program was developed by Gap Inc. in 2006 to provide life skills and enhanced technical skills education to female garment workers to help them advance in the work place and in their personal lives.

DEERFIELD, Ill. — Walgreens on Wednesday sold its pharmacy benefit management business, Walgreens Health Initiatives, to Catalyst Health Solutions in a cash transaction for $525 million, subject to certain adjustments. The transaction is structured as an acquisition of all of the capital stock of WHI.