Finance & Capital Management

After weeks of exploring “strategic alternatives,” PetSmart has agreed to be acquired for about $8.7 billion by a consortium led by London-based BC Partners.

"We are pleased to have reached this agreement with BC Partners, which maximizes value for all of our shareholders and best positions PetSmart to continue to meet the needs of pet parents," said Gregory Josefowicz, chairman of PetSmart. "This transaction represents the successful conclusion of our extensive review of strategic alternatives." 

Phoenix – PetSmart Inc. has agreed to be purchased for about $8.7 billion by a consortium of buyers led by private equity firm B.C. Partners and also including pension fund manager La Caisse de dépôt et placement du Québec and private equity firm StepStone. The total figure represents an acquisition price of $83 per share, a 39% premium over PetSmart’s closing price on July 2, 2014.  

San Leandro, Calif. - The U.S. retail sector will add nearly 30,000 jobs through the end of December as the country heads into a strong holiday shopping season. According to a study from HR services provider TriNet, recent job growth in the U.S. retail sector is built on positive consumer confidence, increasing retail spending, and positive job market outlook.   

After announcing new partnerships with HGTV and Lowe’s, as well as three consecutive quarters of record growth, Sherwin-Williams is celebrating another milestone.

The company announced it is opening its 4,000th store in Sewickley, Pa.

Chief Information Security Officers (CISO) have become more common on companies’ senior leadership teams. They might be in even higher demand after the highly publicized data breaches at Target, Home Depot, Neiman Marcus and other companies in the past couple of years (see a timeline of data breaches in the past decade here). In fact, Neiman Marcus just hired its first CISO, Sarah Hendrickson.

NEW YORK--(BUSINESS WIRE)--Fitch Ratings believes that the massive cost cutting plan outlined today by RadioShack is likely not sufficient to forestall a restructuring of the company's debt in the near term. Fitch currently rates RadioShack Corporation's (RadioShack) Long-term Issuer Default Rating (IDR) 'C'. A full list of ratings is shown below.  

A $43.5 million fine has been levied against 10 Wall Street firms for doing what they were asked by Toys “R” Us as the retailer prepared an ill-fated public stock offering in 2010.

The Financial Industry Regulatory Authority (FINRA) levied the $43.5 million fine against the 10 investment banks – but not Toys “R” Us – for allowing their equity research analysts to solicit investment banking business and offer favorable research coverage in connection with the retailer’s planned IPO in 2010.

By Hemal Nagarsheth and Ramesh Siromani     Consumers view the “right” payment method, (accessing points, discounts, and special offers,) as a critical part of the purchase process – good news for branded private label cards which allow retailers to cultivate loyalty, improve operating results, and gain sustainable competitive advantage.