Finance & Capital Management

Carle Place, N.Y. -- 1-800-Flowers.com Inc. has entered into an agreement to acquire gourmet food and gift retailer Harry & David Holdings for $142.5 million in cash.  

The deal includes Harry & David’s brands and websites as well as its headquarters, manufacturing and distribution facilities and orchards in Medford, Oregon, a warehouse and distribution facility in Hebron, Ohio, and 47 Harry & David stores.

Goodlettsville, Tenn. -- The battle for Family Dollar moved into higher gear on Tuesday with Dollar General raising its bid for Family Dollar to $9.1 billion, or $80 per share, up from $78.50 per share in its previous offer. Dollar General also warned that it would attempt a hostile bid if Family Dollar refused to enter into talks regarding the new offer.

The Family Dollar board is under new pressure to walk away from a deal with Dollar Tree after Dollar General further increased an already more generous counter offer.

Early Monday Dollar General increased its all cash offer to $80 a share from $78.50 a share and increased the number of stores it said it would be willing to divest to 1,500 from 700. The company also said it would be willing to pay Family Dollar a $500 million reverse break-up if the deal failed to secure antitrust clearance.

Broad-line retailer Alco’s shareholders have replaced the company’s board of directors with seven new members, effective immediately. The elections were made at the company’s annual meeting of stockholders in Dallas late last week.

Improved sales in Pacific Sunwear’s men’s division helped bolster the company’s earnings for the second quarter ended Aug. 2.

The company reported earnings of $7.5 million for the quarter, compared to a net loss of $19.2 million in the year-ago period. Comparable store sales inched up 0.3%.

Revenue for the quarter was a better-than-expected $211.7 million, up from $210.1 million last year.

Fred’s second-quarter results reflected the company’s strategic decision to build its business model for the future as a convenience/pharmacy-centric store, driven by data-based inventory management, according to CEO Bruce Efird.

The company reported a net loss of $16.4 million for the quarter. Fred's total sales for the second quarter of fiscal 2014 increased 2% to $491.2 million. On a comparable-store basis, second-quarter sales decreased 0.1%.

The strategy at Conn’s to grow sales of its most profitable product lines have proved successful for the specialty retailer, which marked its 12th consecutive quarter of increasing same-store sales. But overall results were unsatisfactory, because provisions for credit losses were higher than expected, resulting in portfolio performance deterioration.

For the second consecutive quarter, Toys “R” Us has delivered positive comparable store net sales results in its U.S. and international segments.

After several years of market weakness, the company’s international business as whole has begun to rebound, driven primarily by net sales increases in Japan and the U.K. Business in China and Southeast Asia remains strong, as the company continues its expansion in that region.

Improved merchandising strategies and marketing execution at Big Lots has president and CEO David Campisi feeling good about prospects for a company that continues to distance itself from its closeout roots.

Online sales at regional department store operator Belk grew 43% during the second quarter, prompting the company to announce a major investment in its e-commerce and fulfillment capabilities.