Office Depot buying Svanstroms Gruppen
Boca Raton, Fla. — Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.
Terms were not disclosed.
Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB.
"We’ve been successful in this market and see continued growth and high potential in the region," said Charlie Brown, president of Office Depot’s international division, said in a statement on Tuesday.
Svanstroms Gruppen, owned by Mellby Gaard Industri AB, has expanded through some sector buyouts, including Wettergrens and Killbergs.
The acquisition must receive clearance from the Swedish antitrust authority.
Zale’s holiday same-store sales up 8.5%
Dallas — Zale Corp.’s same-store sales rose 8.5% during the November-December selling period. This figure is a key indicator of a retailer’s health because it gauges results at existing stores instead of newly opened ones.
Zale is refocusing its merchandise on diamonds and stepping up training of its workers, said CEO Theo Killion in a Bloomberg report. The company increased the number of salespeople certified by the Diamond Council of America to 2,000, from 800 last year, and plans to add more, he said.
Killion was appointed CEO in September after serving on an interim basis since January 2010.
Report: Kmart testing financial centers
New York City — Twenty-three Kmart stores in Illinois and three other markets are testing financial centers where shoppers can cash checks, pay bills, place money orders and transfer money, according to Chicago Breaking Business.
A Kmart spokeperson declined to comment on whether a bigger roll out is planned, or what the retailer has learned so far from its test, the report said.
Seven of the Kmart stores are in Illinois, 10 are in Los Angeles, five are in Puerto Rico and one is in Wisconsin.