FINANCE

Fossil CFO to retire next March

BY Staff Writer

Richardson, Texas — Fossil Inc. said Thursday that CFO Michael Kovar will retire effective March 2013 after 13 years with the company.

Fossil said it has launched a search for Kovar’s successor.

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FINANCE

Kroger increases dividend by 30%

BY Staff Writer

Cincinnati — The Kroger Co. said Thursday it will increase its quarterly dividend by 30% to 15 cents per share, payable Dec. 1.

The grocer said the move is prompted by a strong confidence in its business strategy.

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News

Nordstrom ventures into Canada

BY CSA STAFF

TORONTO — Nordstrom is partnering with Cadillac Fairview to open its first full-line stores in Canada beginning fall of 2014. The company will lease four stores at premier shopping centres located in Calgary, Ottawa, Toronto and Vancouver.

Nordstrom will be moving into space that will be vacated by Sears and then renovated at Pacific Centre in Vancouver, Calgary’s Chinook Centre, Rideau Centre in Ottawa, with a new-construction store opening in Toronto’s Sherway Gardens.

"It’s exciting to finally have this opportunity to better serve our Canadian customers closer to home and we can’t wait to open our doors," said Erik Nordstrom, president of stores for Nordstrom Inc. "Cadillac Fairview has been instrumental in helping us get started in Canada, and we’re thrilled to be part of these premier shopping destinations. While we’re fortunate to have many loyal Canadian customers who’ve shopped with us over the years, we recognize we’re new here and that we have to earn our customers’ business. We look forward to what we will learn and are grateful for the chance to better serve our Canadian customers."

Nordstrom also announced it will continue exploring opportunities to open additional full-line stores as well as Nordstrom Racks, its off-price retail division, as part of the company’s future expansion into Canada.

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