Finance & Capital Management

Seattle – Starbucks has priced an underwritten public offering of senior notes. The company plans to use the net proceeds from the offering of $400 million of 0.875% senior notes due 2016 and $350 million of 2.000% senior notes due 2018 to fund a portion of the payment required by the previously announced arbitration award in the Kraft litigation matter.

Newport Beach, Calif. -- Engaged Capital, an investment firm specializing in small and mid-cap North American equities and beneficial owner of approximately 400,000 shares of the common stock of Abercrombie & Fitch Co. sent a letter to the company’s board of directors on Dec. 3. In its letter, Engaged Capital highlighted the upcoming expiration of Abercrombie chairman and CEO Michael Jeffries’ employment contract on February 1, 2014 as an opportunity for the board to set a new direction for the company.

Third party logistics provider Transplace named veteran finance executive Tony Cossentino as its new CFO reporting to CEO Tom Sanderson.

Cossentino replaces Steve Crowther, who joined Transplace in 2007 and helped guide the company through management-led private equity deals with CI Capital Partners and Greenbriar Equity Group, as well as strategic acquisitions of SCO Logistics, Torus Freight Systems and partnership with Celtic International.

Greek Yogurt leader Chobani hired 18-year Procter & Gamble finance executive Dipak Golechha to serve at its CFO reporting to founder and CEO Hamdi Ulukaya.

Golechha replaces former Chobani CFO James McConeghy who stepped down in November, the company said. His successor Golechha spent the past 18 years in finance roles at P&G including CFO of the company’s global snacks division.

Same store sales increased 10.1% during November at J.C. Penney, the company announced during an update on its holiday performance.

In addition to the double digit comp performance, J.C. Penney said its e-commerce sales through jcp.com continued to be strong, running well ahead of last year, consistent with last month's trend.

Dan Sullivan was elevated to the role of CFO at Ahold USA following the departure of Paula Price.

Price spent nearly five years there, but decided to take her career in a new direction, according to a statement by the supermarket operator, subsidiary of Netherlands-based Royal Ahold and owner of the Stop & Shop and Giant Food Stores chains. Price will lecture at a leading university on leadership and technical topics related to her unique business journey in addition to complementing her existing corporate and non-profit board positions, according to the company.

Leading global beauty company Coty has appointed Patrice de Talhouët as CFO. He will replace Sergio Pedreiro who will stay on at Coty through March 2014 to provide a seamless transition for de Talhouët, as well as to complete Coty's fiscal 2014 second quarter earnings release.

Safeway has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's. Roundy's will take possession of the stores during a transition period that will take place in the next two months.

The transaction is subject to customary closing conditions.

Ascena Retail Group, parent company of Lane Bryant, Dressbarn and Justice, may have just reported same store sales growth across all its formats and achieved Thanksgiving weekend sales objectives, but president and CEO David Jaffe remains cautious in his outlook for the remainder of the holiday season.

As so many other retailers have noted in recent weeks, Jaffe said this year’s highly competitive, promotional and compressed holiday season makes it difficult to know how the next few weeks will play out, despite the company’s recent performance.

Pleasanton, Calif. -- Safeway Inc. announced it has reached a definitive agreement to sell 11 of its Dominick's stores in the Chicago metropolitan area in a cash and lease assumption transaction to Roundy's, Inc. Roundy's will take possession of the stores during a transition period that will take place over the next two months.