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Finance & Capital Management

  • Fresh & Easy to close 55 stores as it transitions to new convenience model

    New York -- Fresh & Easy plans to close 55 stores, which would leave the chain with about 110 locations, the Orange Country Register reported. Fresh & Easy is owned by the Yucaipa Cos., which bought the supermarket chain out of bankruptcy in 2013 from U.K. retailer Tesco. It operates stores in Nevada, California and Arizona.

    The stores slated for closing do not meet Fresh & Easy’s new model of “modern convenience.”

  • Ebay names two directors as it readies for PayPal split

    San Jose, Calif. -- EBay Inc. on Monday announced it has appointed two independent directors to its board as it prepares for the spinoff of its payments division, PayPal, in the second half of this year.

    Ebay appointed Tony Bates, president of action camera maker GoPro, and Gail McGovern, president and CEO of the American Red Cross, to its board.

  • Lowe's board approves new $5 billion share buyback program

    The resurgence of the housing market has Lowe’s feeling optimistic, to the tune of $5 billion.

    The company’s board of directors announced that it has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of Jan. 30.

  • McAlister’s Deli sees rising Phoenix franchise opportunity

    Alpharetta, Ga. - McAlister's Deli is targeting Phoenix for franchise growth. The fast-casual dining chain is seeking experienced multi-unit restaurant operators to help expand McAlister's presence in the market through multi-unit development agreements in areas such as Mesa, Tempe, Chandler, Gilbert, Glendale and Goodyear.

  • Square extends e-checking to businesses

    San Francisco – Electronic payment provider Square Inc. is extending its Square Cash e-checking service to businesses. Square is launching Square Cash Pro for Business as an offshoot of its Square Cash personal e-checking service, introduced in 2013.

    Retailers using Cash Pro can accept payments from any Cash customer through the Cash app, via email, with $Cashtags, or online from Cash.me. $Cashtags allow businesses to accept electronic payments without revealing an email address or phone number.

  • Lowe’s approves $5 billion stock repurchase program

    New York -- A surging housing market is giving Lowe’s Cos. a feeling optimistic, to the tune of $5 billion.

    The company’s board of directors announced that it has authorized a new repurchase program of $5 billion of the company's common stock. This new repurchase program has no expiration date and adds to the previous program's balance, which was $2.4 billion as of Jan. 30.

  • REI's ascent continues, membership surges

    Outdoor retailer REI reached new heights in 2014 thanks to unprecedented membership growth which fueled a 4.2% same store sales increase and a record financial performance.

    The same store sales increased and addition of seven new stores helped the company increase total sales 9.9% to $2.2 billion. The company ended the year with 5.5 million active members, 945,000 of whom joined the retail cooperative in 2014.

  • Joe Fresh to open fashion innovation center

    Toronto - Joe Fresh and Ryerson University are launching a long-term partnership that will see the creation of Canada's first fashion innovation center. The Joe Fresh Centre for Fashion Innovation, made possible with a $1 million investment from Joe Fresh, will develop and fund Canada's emerging fashion-inspired businesses through Ryerson's Fashion Zone, an incubator that supports students and student entrepreneurship.

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