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Finance & Capital Management

  • Office Depot gets contracts valued at $400M

    Office Depot has been awarded two contracts valued in excess of $400 million.

    The retailer will be partnering with Region 4 Education Service Center and TCPN, which offers cooperative contract solutions to K-12 schools, local governments, colleges and universities. The new agreements with Office Depot include office and school supplies, furniture, technology products and copy and print services provided at significant discounts and savings to eligible public agency customers.

  • Walgreens to exit NYSE for Nasdaq

    Deerfield, Ill. - Walgreen Co. intends to apply to list the shares of Walgreens Boots Alliance Inc. common stock on The Nasdaq Stock Market under the ticker symbol “WBA” following the closing of its merger with UK-based pharmacy retailer Alliance Boots. The company will voluntarily withdraw its common stock from listing on both the New York Stock Exchange (NYSE) and the Chicago Stock Exchange (CHX).  

  • Pier 1 reports Q3 profit plunge

    Despite reporting a 33% year-over-year decline in profits during the third quarter, Pier 1 Imports CEO Alex Smith said he is confident in the chain’s value proposition going forward in 2015.

  • Judge clears way for Tuesday vote by Family Dollar shareholders

    New York - A Delaware judge has denied a request  to block Tuesday's vote by Family Dollar Stores on a  $8.5 billion take-over bid by Dollar Tree,  saying dissident shareholders "failed to demonstrate a reasonable probability of success on any of their claims."   A shareholder lawsuit had requested a preliminary injunction against the vote until Family Dollar “properly engaged” in talks  with rival Dollar General to “achieve a value-maximizing transaction.”  

  • American Apparel restructures board

    Embattled retailer American Apparel Inc. is restructuring its board amid rumors that the company is evaluating an offer to sell itself at a hefty premium.

    The company, which recently ousted its chief executive and founder Dov Charney, announced that Allan Mayer and David Danziger have stepped down as co-chairmen of the board and will be replaced by board member Colleen B. Brown as chairperson. Mayer and Danziger will continue to serve as members of the board and will retain their positions as chairs of the compensation and audit committees, respectively.

  • Albertson’s and Safeway to sell 146 stores to Haggen

    Boise, Idaho – As part of divestures to receive FTC clearance of their proposed January 2015 merger, AB Acquisitions Inc. (Albertsons) and Safeway Inc. will sell 146 stores to Pacific Northwest grocery chain Haggen. With this acquisition, which remains subject to FTC approval, Haggen will expand from 18 stores with 16 pharmacies to 164 stores with 106 pharmacies.

  • U.K. retailer Poundworld launching IT overhaul with PCMS

    Normanton, U.K. – U.K.-based discount retailer Poundworld is embarking on an IT overhaul with global retail IT services provider PCMS to support its long-term growth plans. The 10-month project will see Poundworld implement a range of new IT systems to improve customer experience, efficiency and store management.   

  • 239 Greenwich Avenue becomes home to Betteridge’s Jeweler

    Greenwich, Connecticut - Family-owned and operated jeweler Betteridge’s is relocating to a new flagship position at 239 Greenwich Avenue -- a corner location that is now at the hub of activity and is considered one the crown jewels of Greenwich, Connecticut’s shopping destination.  
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