Finance & Capital Management

Supervalu has begun supplying the first of 18 Rainbow stores that are being acquired as part of the transactions that were announced May 7 between Roundy’s and a consortium of Supervalu and independent retailers.

Following the store conversions, Supervalu will supply all 18 of the acquired stores out of its Hopkins, Minn., distribution center.
 

Dublin, Calif. -- Ross Dress for Less will open two new stores in the Southeast on July 19th.  The store openings are in The Village on Pooler Parkway in Pooler, Georgia, and Dixie Valley Shopping Center in Southwest Louisville, Kentucky.  These new openings are part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.

Drawbridge, a leading cross-device advertising platform, has added former Apple exec Andy Miller to its board of directors.

Miller is a current adviser and the former president and COO of Leap Motion, as well as a former Partner at Highland Capital. Previously, Miller was VP of mobile advertising at Apple, reporting directly to Steve Jobs. He was co-founder and CEO of Quattro Wireless, which was acquired by Apple in 2009 and would become Apple's mobile advertising platform, iAd.

Gap and Banana Republic may have had soft sales in June, but performance at the company’s Old Navy brand saved the day.

The company reported an increase of 1% in June sales compared with last year. Net sales for the five-week period ended July 5 were $1.54 billion compared with net sales of $1.53 billion for the five-week period ended July 6 last year.
 

Latham, New York -- DWM Facilities Maintenance announces today the promotion of Paul Meeks to executive VP of projects.  Meeks was an integral part of founding DWM with his brother David and has been with the company since its inception in 1997.

Tractor Supply is scheduled to provide complete second-quarter results in just under two weeks. But the first half of the quarter was affected by bad weather, which caused softness in sales, particularly in seasonal merchandise, prompting the company to lower its full-year guidance.

New York - Imports to the U.S. were steady in May 2014 from the previous month, though there was a measurable year-over-year increase. Data from supply chain research firm Panjiva shows that May 2014 showed levels of imports 4% above imports in May 2013.

Though sales were up 3% and income increased 1% for WD-40 Company in the third quarter, shares for the lubricants and cleaner supplier were down more than 6% Thursday morning after management narrowed the full-year guidance.

Net sales for the quarter came in at $95.7 million, up from $93.1 million in the same quarter last year. This was largely carried by sales of multi-purpose maintenance products; sales of homecare and cleaning products decreased 1%.