Finance & Capital Management

BJ's Charitable Foundation has donated 70 grants totaling $431,000 to several nonprofit organizations whose goals are to help improve the lives of local residents in the areas surrounding BJ's Wholesale Clubs.

The funds will go toward healthcare, education, hunger prevention and self-sufficiency.

Rite Aid has been awarded specialty pharmacy accreditation from URAC, a Washington, D.C.-based health care accreditation organization that establishes quality standards for the health care industry.

The Wet Seal board has decided to reduce the cash compensation for its directors by 20% for the remainder of fiscal 2014 and to reduce the number of director nominees to be elected at its upcoming annual meeting from nine to seven.

“By reducing director compensation and the number of directors nominated for election at our 2014 annual meeting, the board is doing its part to ensure it can respond quickly to issues as they arise and support the cost reduction efforts already taken by management,” said non-executive chairperson Lynda Davey.

New York -- Coldwater Creek Inc. is planning to liquidate its assets after a bankruptcy filing that is expected to come soon, Bloomberg News reported. The filing would come five months after the specialty women's apparel retailer, which is based in Sandpoint, Idaho, said it was exploring strategic alternatives, including a sale.

New York -- The Jones Group Inc. announced that its shareholders overwhelmingly voted to approve the company’s acquisition by Sycamore Partners.

Under the terms of the deal, Sycamore will acquire Jones for $15.00 per share in cash, or a total transaction value of approximately $2.2 billion.

Stamford, Conn. -- GE Capital Retail Bank announced a long-term extension of its agreement with American Eagle Outfitters to continue providing private-label credit card programs for online, mobile app, and store purchases made at any of the 856 American Eagle Outfitter and 115 Aerie locations across the U.S.

As part of the seven-year agreement, GE Capital’s Retail Finance business will continue to manage the American Eagle Outfitters credit card program, which began in 1996.

Foothill Ranch, Calif. -- The Wet Seal announced that Kathy Bronstein resigned from its board of directors, effective April 4.

Lynda Davey, The Wet Seal’s non-executive chairman, stated: “Kathy has been a valued member of the board of directors and we appreciate the contributions she made to the company, both as a board member and during her earlier tenure as CEO.”

One of the most fascinating developments over the last several years in our industry has been the explosion of new and different types of dining concepts. And it’s not only the restaurants chains evolving and emerging, but also about the way that dining preferences are changing.

Hoffman Estates, Ill. -- Sears Holdings Corporation completed its spin-off of Lands' End Inc. on April 4. The specialty apparel company has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol "LE" on April 7.

Mumbai, India – Leading Indian political party Bharatiya Janata Party (BJP) said in its official election manifesto that it will ban all foreign direct investment into the Indian supermarket sector if it wins a majority stake in the upcoming parliamentary election. BJP is widely expected to take majority control of parliament and the prime minister seat in India’s May 2014 elections.