Finance & Capital Management

Plug and Play, a business accelerator that specializes in tech startups, is holding its quarterly pitch competition event on its campus in Sunnyvale, California, on Thursday, September 18, from 9:30 a.m. to 7 p.m. PDT. The Plug and Play Fall Expo 2014 will feature 40-plus startup pitches, panel discussions and corporate networking. Chain Store Age will be in attendance — watch for a recap in the next edition of Customer Disruption!

Fort Worth, Texas -- Pier I on Wednesday reported income and sales that missed Wall Street forecasts. The retailer also detailed its online growth and omnichannel investments.
 
Pier I posted net income of $9.2 million for the second quarter ended August 30, 2014, down $17.8 million from the year ago period, amid continued investments in omnichannel growth and increased fulfillment costs.

Matthews, N.C. -- The heated battle for Family Dollar Stores rages on, with Family Dollar on Wednesday rejecting a $9.1 billion takeover bid from rival Dollar General and reaffirming its support of its deal with Dollar Tree. Family Dollar also urged shareholders not to tender their shares to the competing chain.

Chicago -- GE Capital, Commercial Distribution Finance (CDF) announced it has significantly expanded its inventory financing program with MarineMax, and extended its duration through 2017.

The $235 million facility will allow the company to expand its stocking plans from leading manufacturers in the industry.

Washington, D.C. -- Site and market challenges, underwriting challenges, and operational challenges are the key factors that hamper retail development in some lower-income communities, according to a report from the Urban Land Institute.

The report, Retail in Underserved Communities, defines underserved communities as those that fall into one or more of four categories: urban locations lacking businesses, underserviced markets, locations without cultural offerings, and isolated rural or small towns.

Norwalk, Conn. -- LogicSource, a leading sourcing and procurement services firm, announced a multi-year partnership with Pep Boys. LogicSource will provide on-site resources and access to shared service subject matter experts, optimizing Pep Boys’ strategic sourcing and procurement processes and reducing Pep Boys’ costs and time to market.

The process improvements and costs savings will support Pep Boys’ “Road Ahead” expansion strategy.

Regional food retailer Grocery Outlet has swapped one private equity owner for another as it looks to drive growth beyond its existing 210 store footprint in six Western states.

The company, which bills itself as an “extreme value” grocer, said it entered into a definitive agreement to be acquired by affiliates of Hellman & Friedman LLC along with Grocery Outlet’s senior management team from its principal owner, Berkshire Partners LLC. The terms of the transaction were not disclosed.
 

Dublin, Calif. --  dd’s Discounts, a division of Ross Stores, Inc. will open a new store in Dallas on Sept. 27.  The store is located at Skillman Abrams Crossing in North Dallas. 

Including this new location, dd’s DISCOUNTS will operate approximately 150 locations in 13 states. The company is on schedule to complete its expansion plan to open approximately 20 locations in 2014.