Finance & Capital Management

NEW YORK — Online retailer NoMoreRack has announced its plans to expand their business and online presence. NoMoreRack has received $12 million in new capital. They plan to use this investment money to increase their workforce and expand into foreign markets.

HUDSON, Ohio — Jo-Ann Fabric and Craft Stores announced that in 2012 the company’s year-end corporate giving total surpassed $5 million for the first time in the retailer’s history.

KANSAS CITY, Mo. — Hostess Brands announced that it has selected United States Bakery's approximately $30.9 million offer as the winning bid for the company's Sweetheart, Eddy's, Standish Farms, and Grandma Emilie's bread brands, four bakeries, and 14 depots, plus certain equipment. 

The United States Bakery offer was selected as the highest and best bid at a March 15 auction. The company will ask the U.S. Bankruptcy Court for the Southern District of New York to approve the transaction at a hearing on April 9.

JACKSONVILLE, Fla. — Anthea Jones has assumed the role of president at Bi-Lo. He will continue to serve as SVP operations. 

Jones comes to the position from the Bi-Lo side of the recent merger between regional supermarkets Bi-Lo and Winn-Dixie. He signed on with Bi-Lo in 1999 after 17 years at Food Lion. He also is the immediate past board chairman for the Global Market Development Center. 

Jones succeeds Michael Byars in the position. Randall Onstead continues as president and CEO of the combined company, Bi-Lo Holdings.

OAKBROOK TERRACE, Ill. — Redbox, a wholly-owned subsidiary of Coinstar, has named Kiera Hynninen as its SVP marketing and Pamela Smith as its SVP finance. Hynninen will report into Anne Saunders, president of Redbox, and will oversee the company's marketing efforts, including brand growth and a continued focus on strengthening consumer relationships. Smith will report into Galen Smith, incoming CFO of Coinstar, and will be responsible for managing financial planning and analysis, budgeting, financial strategy and deal support for the Redbox line of business.

SAN FRANCISCO — Williams-Sonoma reported that fourth-quarter EPS grew 15% to $1.34 and that quarterly revenue grew to $1.406 billion versus $1.268 billion in 2011 with comparable brand revenue growth of 4%.

Fiscal 2012 EPS grew 14% to $2.54. Net revenues for the year grew to $4.043 billion versus $3.721 billion in FY 11 with comparable brand revenue growth of 6.1%.

Washington, D.C. -- The Rappaport Cos. and Principal Real Estate Investors announced a joint venture to acquire retail assets throughout the Mid-Atlantic region.  

The program launched with the recapitalization of approximately 1 million sq. ft. of retail space in four retail centers located in Northern Virginia.  

Columbus, Ohio -- DSW Inc. reported Tuesday that net income for the quarter ended Feb. 2 rose to $31.4 million from $23.1 million in the year-ago period. Sales for the fourth quarter increased 15.7% to $594.3 million, and same-store sales rose 3.6%.

For the full year, profit increased to $152.2 million, from $136.1 million in the prior fiscal year. Sales rose 11.5% to $2.26 billion from $2.02 billion.

Boucherville, Quebec, Canada -- Canadian home-improvement chain Rona Inc. announced Tuesday it has named Robert Sawyer as president and CEO, effective next month.

Sawyer was previously an executive at grocery chain Metro Inc.

Rona’s acting CEO Dominique Boies will remain as company CFO.

Dublin, Ohio -- The Wendy's Co. announced Tuesday an agreement with The Eljuri Group to develop 20 Wendy's restaurants in Ecuador.

As the largest business group in Ecuador, Eljuri said it expects to open the first two Wendy's locations in 2013 in Guayaquil, a coastal city with a population of 2.3 million people.