Finance & Capital Management

The majority owner of Ollie’s Bargain Outlet is looking to reduce its stake in the company following a holiday season sales performance CEO Mark Butler characterized as thrilling.

Bryn and Dane’s announced it will be expanding from three to six locations in Pennsylvania within the next year. The new stores will be located in the Philadelphia Metro Area:

• Bryn Mawr Village in Bryn Mawr, Pennsylvania; set to open summer 2016
• Atwater South in Malvern, Pennsylvania; set to open fall 2016
• The Franklin, 834 Chestnut Street, Philadelphia, Pennsylvania; set to open early 2017

DSW is expanding its e-commerce capabilities with a deal to acquire Ebuys Inc., an online off-price footwear retailer with a presence in North America, Europe, Australia and Asia.

DSW announced that the purchase price includes an upfront payment of $62.5 million as well as future payments contingent on the performance of Ebuys, Inc. The deal is expected to close within the next 30 days.

Jo-Ann Fabric and Craft Stores has added some human resources heft to its executive ranks.

Photo: (L-R) Eric Griffith, Michael Herman, Stephen Lebovitz, Rusty Carlton, Robert Snetman.

Chattanooga, Tenn. -- CBL announced the promotions of Rusty Carlton to VP of portfolio accounting; Eric Griffith to VP of mall leasing; Michael Herman to VP of legal services; and Robert Snetman to VP of asset management and third party services.

Regional grocery chain Weis Markets says its loyalty program and other promotions helped boost traffic in the third quarter as the company reported an increase in same-store sales.

For the period ended Sept. 26, sales increased 4.1% to $711.9 million while same-store sales increased 4%, compared to the third quarter in 2014. The company says it generated $12.8 million in net income, down 5.4%, compared to the same period in 2014. Third quarter earnings per share totaled 48 cents, compared to 50 cents in 2014.

Cincinnati -- Phillips Edison & Company it has appointed Theresa (“Terry”) Shea as VP, assistant general counsel. In her new role, Shea will work closely with the general counsel to provide legal advice to the Company concerning all aspects of its business.

Hhgregg CFO Robert Riesbeck is acting as interim CEO at the appliance, electronics and furniture retailer following the abrupt departure of longtime executive Dennis May.