Finance & Capital Management

Carlisle, Pa. -- Giant Food Stores and Martin’s Food Markets said they will begin paying all non-union workers a minimum of $9 a hour beginning in June.

The operator of 200 stores in Pennsylvania, Maryland, Virginia and West Virginia said the move was part of the company’s commitment to provide competitive wages.

"Our associates are the foundation of our success, and we have always believed in paying competitive wages to attract the best talent," said Tom Lenkevich, Giant/Martin’s president.

Minneapolis – Target Corp. is reportedly nearing a $20 million settlement with MasterCard to cover costs related to the retailer’s 2013 data breach. According to the Wall Street Journal, the settlement would pay for the cost of reissuing payment cards and some fraud that resulted from improper use of consumer data.

Sources indicate Target and MasterCard have been negotiating for months. TJX paid a similar sum to MasterCard to settle costs from a 2008 data breach.
 

Commerce, Calif. - Smart & Final Stores Inc. is pricing an underwritten public offering of 10 million shares of its common stock at $18.50 per share. The shares are owned by certain stockholders of the company, including affiliates of Ares Management L.P.

Walmart’s share price will be under pressure in the coming years as a holding company created decades ago by the Walton family to control their ownership of the company prepares to unload as much as 6% of Walmart’s outstanding shares.

Kmart is taking its long-running affiliation with March of Dimes to a new level this year with the help of America’s fiercest fitness expert.

Seattle -- Nordstrom announced it is donating one percent of every gift card sale to local nonprofits in the U.S., Puerto Rico and Canada.

"When a customer buys a gift card this Mother's Day and beyond, we hope they'll feel good knowing that the gift they're giving is a part of Nordstrom helping some great non-profit organizations do amazing things for their communities,” said Jamie Nordstrom, president of stores for Nordstrom.

Livonia, Mich. -- Pet Supplies Plus, the nation’s largest pet retail franchise with more than 300 locations in 25 states, announced it has signed six new franchise agreements to bring its neighborhood pet store concept to Boca Raton, Florida; Tampa, Florida; Stephenville, Texas; Elizabethtown, Kentucky; Hartland, Michigan and Greenville, South Carolina.
 

Plano, Texas – A senior executive at The J.C. Penney Co. Inc. has accidentally disclosed same-store sales growth to date in the first quarter of fiscal 2015. In a filing with the Securities and Exchange Commission, Penney said the executive sent an email to an analyst including the information that same-store sales have increased 6% so far in the quarter, ending in May 2015, with the retailer expecting growth to total 3.5%-4.5% for the full quarter.

New York -- Lower gas prices and an increase in the average age of U.S. cars on the road didn’t help Pep Boys’ performance in the fourth quarter, posted a wider loss in the fourth quarter. The auto parts chain had a loss of $26.7 million, compared to a loss of $3.33 million a year earlier. The latest results included a net charge of $12.4 million for write-downs and severance expenses.

Oslo, Norway - Scandinavian multinational supermarket chain Rema 1000 will be leveraging Revionics lifecycle pricing solutions in all product categories across all of its retail stores. Utilizing advanced science and predictive analytics, Rema 1000 will be able to strategically manage pricing and consistently align it with brand image, offer promotions that are compelling and profitable and more accurately forecast and measure key financial metrics.