REAL ESTATE

Report: Amazon opens pop-up in San Francisco

BY Staff Writer

New York — Online giant Amazon has opened a pop-up store in Westfield San Francisco Centre, San Francisco. The pop-up sells Kindle tablets and e-readers, as well as branded covers and power adapters from vending machines, according to The Wall Street Journal. It is one of a handful of pop-ups the company has opened in malls.

Citing one of the employees at the location, WSJ reported that the pop-up store would close after two weeks.

An Amazon spokeswoman told WSJ that the temporary stores were in a handful of malls as part of a marketing campaign.

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FINANCE

Safeway sells 11 Dominick’s stores to Roundy’s

BY Staff Writer

Pleasanton, Calif. — Safeway Inc. announced it has reached a definitive agreement to sell 11 of its Dominick’s stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy’s, Inc. Roundy’s will take possession of the stores during a transition period that will take place over the next two months.

Earlier this year, Safeway announced its decision to exit the Chicago market and focus its efforts in other operating areas where its business is stronger. The company continues to be actively engaged in a process to identify purchasers for its remaining stores in the Chicago market, and make announcements as and when pending deals are finalized.

Safeway previously announced the sale of four stores in the greater Chicago area to New Albertsons, Inc., which operates Jewel-Osco grocery stores.

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FINANCE

Office Depot names Wendy’s exec as CFO

BY Marianne Wilson

Boca Raton, Fla. — Office Depot, formed by the merger of Office Depot and OfficeMax, announced the appointment of Stephen Hare as executive VP and CFO, effective immediately. Hare replaces co-CFO Mike Newman, who has retired from the company, and interim Co-CFO Deb O’Connor, who has returned to her position as senior VP, finance and co-chief accounting officer.

Hare comes to Office Depot from The Wendy’s Company where he served as senior VP and CFO from 2011 until September 2013. Prior to that, he was senior VP and CFO of Wendy’s/Arby’s Group, from 2008 through 2011. Previously, he served as CFO of Arby’s Restaurant Group.

Hare will report to Office Depot’s new chairman and CEO Roland Smith. Prior to joining the newly combined company, Smith was CEO of Delhaize America. And before that, he was CEO of Wendy’s and the Wendy’s/Arby’s Group.

"Having worked closely with Steve on transforming businesses in the past, I know he brings to Office Depot, Inc. the knowledge and discipline needed to realize the synergies inherent in the merger of Office Depot and OfficeMax," Smith said. "I am confident that Steve’s financial skills and wealth of operations and management experience will enable us to be a more competitive and efficient provider of office products and services, and set us on a path for sustainable growth.

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