Finance & Capital Management

Rockford, Mich. -- Wolverine Worldwide said it plans to close about 140 stores, primarily under the Stride Rite banner,  over the next 18 months as part of a strategic realignment plan to accelerate growth and improve overall profitability.  About 60 stores will close by the end of the current fiscal year, with the rest to be shuttered by the end of 2015.

Union, N.J. - Bed Bath & Beyond Inc. has priced three series of senior unsecured notes for an aggregate principal amount of $1.5 billion. Of these notes, $300 million will mature in August 2024, $300 million will mature in August 2034, and $900 million will mature in August 2044.

The offering is expected to close, subject to normal closing conditions, on July 17, 2014. The company intends to use the proceeds from this offering for share repurchases of its common stock and for general corporate purposes.

If Amazon makes good on its guidance for the second quarter, sales during the period ended June 30 rose somewhere between 15% and 26% to range from $18.1 billion to $19.8 billion.

Greenwood Village, Colorado -- Red Robin Gourmet Burger announced it has completed the acquisition of 32 Red Robin franchised restaurants in the United States and Canada, for approximately $40 million from Mach Robin, LLC and Mach Robin, LLC’s Canadian affiliate.

Dollar Tree has appointed former Tractor Supply executive Randy Guiler as VP of investor relations. Guiler succeeds Timothy Reid, who is retiring.

Atlanta – Aaron’s Inc. on Tuesday said it plans to close 44 underperforming stores in the third quarter of fiscal 2014 and continue other cost-reduction initiatives in response to disappointing core business performance. The electronics, furniture and appliances rentals retailer also revised its earnings guidance downward for the second quarter.

The company praised the performance of its recently purchased Progressive Finance unit.

Chesapeake, Va. - Randy Guiler has joined Dollar Tree Inc. as VP, investor relations. Guiler, 49, is joining Dollar Tree after nearly 15 years with Tractor Supply Company, including leading Tractor Supply’s investor relations efforts for the past 10 years.

Prior to his role as VP, investor relations & corporate communications, Guiler also had responsibility for Tractor Supply’s treasury and risk management functions. Guiler will succeed Timothy Reid, 61, who is retiring.

Leading footwear manufacturer and retailer Wolverine World Wide plans to close 140 stores in the next 18 months as part of a strategic realignment plan focused on strengthening omnichannel capabilities.

Most of the stores to be closed operate under the company’s Stride Rite banner. Sixty of the units will close by year end with the remainder to close next year, the company said. The disclosure was made in conjunction with the release of solid financial results for the company’s second quarter ended July 14.