Finance & Capital Management

The Container Store is marking Valentine’s Day with the launch of its Employee First Fund — an employee assistance fund that will provide grants to employees experiencing unforeseen emergencies, a major medical situation, a catastrophic event or other challenges in life that they are not financially prepared to handle.

Jos. A. Bank is in the process of acquiring Everest Topco, a portfolio company of Golden Gate and parent company of the Eddie Bauer brand.

The purchase price for Eddie Bauer consists of a combination of $564 million in cash and approximately 4.7 million new shares of common stock of Jos. A. Bank, issued to Everest Topco at $56 per share, a premium to the pre-announcement share price.

Dallas — The Container Store Group Inc. has launched its Employee First Fund, an employee assistance fund that will provide grants to employees experiencing unforeseen emergencies, a major medical situation, are suffering from a catastrophic event, or facing other challenges in life which they are not financially prepared to handle. The Container Store is contributing $100,000 to kick-off the fund, and after that, employees and other stakeholders have the opportunity to make donations.

Pittsburgh — GNC Holdings Inc. reported positive financial performance during the fourth quarter and fiscal year 2013. For the quarter, net income slightly rose to $47.7 million from $47.4 million in the same period the prior year.

In addition, the chain reported consolidated revenue of $613.7 million for the quarter, an increase of 8.6% from $565 million from the year-ago period. Same-store sales increased 5% in domestic corporate stores and 3.3% in domestic franchise stores.

Coty faced a challenging second quarter as revenues declined, partially due to U.S. market softness in the mass fragrance and nail categories. Despite the challenges, company executives expressed optimism during Friday morning’s conference call, and look to return to top-line growth in the second half.

Sunbury, Pa. — Weiss Markets named Jonathan Weis as president and CEO. Weis, 46, will also retain his role as vice chairman of the chain.

Weis has been serving as the company’s interim CEO since David Hepfinger departed in September. He is the son of Robert F. Weis, who remains chairman of Weis Markets.


 

Despite a challenging retail environment, GNC performed well during the fourth quarter and fiscal year 2013, generating what chairman, president and CEO Joe Fortunato described as solid top and bottom line growth.

For the quarter, net income slightly rose to $47.7 million from $47.4 million in the same period the prior year.

Hampstead, Md. — Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. The deal is the latest chapter in Jos A. Bank’s ongoing takeover battle with Men’s Wearhouse. Last fall, Jos. B. Bank tried and failed to buy rival Men’s Wearhouse for $2.3 billion. Men’s Wearhouse then began pursuing Jos. A. Bank.