Finance & Capital Management

Chicago -- There were 4,442 more restaurants in the U.S. in fall 2012 than there were in fall 2011, according to a recent U.S. restaurant census conducted by The NPD Group.

The total number of U.S. restaurants is now 616,008, a .7% increase over last year, based on NPD’s Fall 2012 ReCount, which is a count of commercial restaurant locations in the United States compiled in the spring and fall each year.

New York -- Wegmans has confirmed plans to open a store in Alexandria, Va., in 2014, according to Washington Business Journal.

The store will be located in Hilltop Village, which is being developed by Houston-based Weingarten Realty Investors. The project will feature some 250,000 sq. ft. of retail, anchored by the 143,000-sq.-ft. Wegmans, and 100,000 sq. ft. of office.

Mahwah, N.J. -- Connecticut retailer Pilgrim Furniture City has expanded its relationship with TD Retail Card Services, moving from the company’s Renovate Card program to a branded private label card created specifically for Pilgrim customers.

New York -- Shares of Safeway Inc. shares rose as much as 9% on Wednesday on rumors of increased buyout interest for its Canada operations by Canadian grocer Metro Inc. and Loblaw Companies Ltd.

On Tuesday, Metro announced it was selling off nearly half its stake in Couche-Tard Inc. for $482 million.

In December, Loblaw announced plans to spin off the vast majority of its property assets into a real estate investment trust.

Phoenix -- PetSmart on Tuesday announced its planned management succession plan. The company said that following its annual shareholders meeting on June 14, 2013, current president and COO David K. Lenhardt will be promoted to CEO and simultaneously join the board of directors. At that time, current chairman and CEO Bob Moran will vacate the CEO's chair and become executive chairman.

New York -- Dollar General Corp. will open 635 new stores in 2013, creating some 6,000 jobs. The chain will also relocate 550 stores this year.

With the addition of these jobs in 2013, Dollar General said it will have created approximately 30,000 jobs in the last six years.

CITY OF INDUSTRY, Calif. — Jim McGinty, CFO of teen retailer, Hot Topic, has resigned from the company, effective March 29, the company announced Monday. George Wehlitz, VP, Finance, will serve as the interim CFO.

“We are grateful for Jim’s committed service to the company over the past 12 years and wish him well in the next phase of his career,” said Lisa Harper, chairman and CEO of Hot Topic.

TRACY, Calif.   — Amazon will open a new fulfillment center in Tracy, Calif., creating hundreds of jobs in the process, the company announced.
 

DALLAS — Tuesday Morning has named John Rossler as EVP, COO, effective immediately. Rossler has been serving as an executive advisor to Tuesday Morning since October, 2012, and his focus has been primarily on operational efficiencies, including overall cost control, supply chain and real estate. His distinguished career in retail includes serving as president and CEO of DSW Inc. and Retail Ventures Inc.

NORWALK, Conn. — BJ’s Wholesale Club has reached a multi-year agreement with LogicSource Inc. to provide enhanced print procurement and management services that will deliver significant cost savings to BJ’s. Terms were not disclosed.

LogicSource will provide onsite co-sourcing for all of BJ’s print procurement needs by collaborating with BJ’s to identify new potential supply chain partners and procurement efficiencies.