REAL ESTATE

Marshalls to debut in Canada

BY CSA STAFF

Toronto — A report Thursday by the Toronto Star said that Marshalls will open its first Canadian stores in 2011. Four new stores are currently slated to open next year, according to RioCan Real Estate Investment Trust, which is handling the market entry for Marshalls.

The first three Marshalls are set to open next spring, according to RioCan president and CEO Ed Sonshine. A fourth store, to be housed in a 50,000-sq.-ft. former nightclub, will not open until later in 2011.

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FINANCE

Office Depot sells Japan business

BY CSA STAFF

Boca Raton, Fla. — Office Depot said Thursday it will sell its Japan business to Japanese distribution company Kakuyasu.

The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multichannel businesses in Japan with fiscal-year 2009 sales of $775 million.

Financial terms of the transaction were not disclosed. Office Depot established operations in Japan in 1996 but has not had any stores in the country since selling them off in 2009.

“We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market,” said Charlie Brown, president of the International Division of Office Depot.

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REAL ESTATE

REI to open in Dublin, Calif.

BY CSA STAFF

Seattle — REI on Thursday announced plans to open a new store in Dublin, Calif., at Amador Plaza in the fall of 2011.

The one-story, nearly 24,000-sq.-ft. store will feature a bike shop and a seasonal gear rental department for customers to test out new outdoor activities.

“The Dublin store will provide us the opportunity to bring our friendly expertise and quality outdoor products closer [than the current Berkley store] to the more than 42,500 active REI members that live within 15 miles of the new location,” said Tim Spangler, REI’s VP retail.

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