Finance & Capital Management

By Keri Dawson, VP, Industry Solutions and Advisory Services, MetricStream, [email protected]

As 2013 comes to an end, the retail/CPG industry is bracing itself for even greater compliance requirements, increased regulatory scrutiny, and more risks resulting from social media, global operations, and multi-tiered supply chains.

Houston — Jones Lang LaSalle’s Capital Markets group has closed the sale of Northwest Crossing Centre, a 179,469-sq.-ft., fully leased shopping center in Houston. USA Properties purchased the property from Weingarten Realty. JLL secured 10-year, fixed-rate financing for the acquisition.

Safeway has named Brian Baer as president of the company's Eastern Division.

"Brian's proven management skills and experience will serve our customer base well in the Eastern Division," stated Kelly Griffith, Safeway EVP retail operations.

Baer joined Safeway in 2001 as VP Finance for the company's Phoenix division. In 2004, he became group VP of finance planning and analysis at the Safeway's corporate headquarters. He joined the Dominick's division as CFO in 2008, and was promoted to president of that division in 2011.

Central Garden & Pet Company CEO John Ranelli offered a contrite response regarding the company's lack of sufficient progress in the fourth fiscal quarter of 2013.

XPO Logistics has entered into a definitive agreement with Landstar System to acquire NLM, the largest provider of Web-based expedited transportation management in North America.

A second technology product, A3i, is included in the planned acquisition. The acquisition is expected to be immediately accretive to earnings, exclusive of any synergies with the company's existing expedite business.

RadioShack has completed a new financing totaling $835 million. That figure includes a $535 million credit facility led by GE Capital, Corporate Retail Finance and a $250 million secured term loan led by Salus Capital Partners.  

The National Retail Federation is calling the short-term budget deal reached by Congress this week a step in the right direction for the economy and for retailers.

In a prepared statement, Matthew Shay, president and CEO of the NRF, said legislators must move past partisan differences to resolve lingering fiscal issues.

Discount online shopping retailer Overstock.com has added prescription brand-name glasses and sunglasses to its website.

"Adding prescription eyewear to the Overstock website, with great names at great prices, seemed a natural fit," states Overstock.com chairman and CEO Patrick M. Byrne. "Unbeatable prices, fashionable styles, ease of ordering, stellar customer service, made the whole concept work for us and for our customers."

BitPay, a company that allows merchants to use bitcoin, has reported a spike in transactions this year.

The company has processed more than $100 million in transactions this year, and its membership now includes more than 15,500 merchants in 200 countries. The number of merchants has increased by more than 50%, while transaction volume has tripled since the creation of the All Inclusive Pricing Plan in October and the integration with Shopify in November.

BitPay, a company that allows merchants to use bitcoin, has reported a spike in transactions this year.

The company has processed more than $100 million in transactions this year, and its membership now includes more than 15,500 merchants in 200 countries. The number of merchants has increased by more than 50%, while transaction volume has tripled since the creation of the All Inclusive Pricing Plan in October and the integration with Shopify in November.