Finance & Capital Management

PLEASANTON, Calif. — Safeway on Wednesday announced that it plans to file a registration statement in the United States for a potential initial public offering of a minority ownership stake in Blackhawk Network Holdings, a leading prepaid payments network.

Costco co-founder and former CEO Jim Sinegal appeared on CNBC Wednesday morning to offer a preview of his speech last night at the Democratic National Convention and explain why he supports the re-election of president Barack Obama.

MELVILLE, N.Y. — Hain Celestial announced that EVP and CFO Ira Lamel will retire from the company.

Lamel will remain with Hain Celestial until a successor is named and to ensure an orderly transition, according to the company, which has commenced a global search for Lamel's replacement. Lamel, 65, joined the company in 2001.

DALLAS — Habitat for Humanity and Lowe’s are joining together to celebrate National Hispanic Heritage Month with two large construction projects that will bring together Lowe’s Heroes, community organizations, schools and local VIPS to celebrate Hispanic heritage while building strong foundations for the future in partnership with Dallas and Houston families. The project includes building two new homes and completing critical repairs on three existing homes in partnership with low-income families.

Philadelphia -- The Pep Boys has named David Stern as executive VP, CFO, effective Sept. 10.  He will oversee the finance function, as well as technology and corporate development.

Stern most recently served as executive VP, chief administrative officer and CFO for A.C. Moore Arts and Crafts. Prior to that, he held roles at Coldwater Creek.

New York -- Hudson’s Bay Co., owner of the Lord & Taylor and The Bay chains, plans to file for an initial public offering, according to The New York Times.

A listing, which is expected to be on the Toronto Stock Exchange, could come this fall, before the end of November, the report said, with as much as 20% of the company being sold to the public.
 

Dallas -- Retalix Ltd., a leading global provider of software and services for high-volume, high-complexity retailers, announced that it has acquired Cornell Mayo Associates, a leading provider of store systems serving top tier department stores and large specialty retailers.

“Who agreed to this language?”

How many times have each of us been handed leases containing  terms which cause us to   ask , “Where did these provisions come from?” or “This is the first time I’ve seen these stipulations, did the transactions group understand the costs of compliance?” The answer is: probably more times than we’d like to recall.

Pleasanton, Calif. -- Safeway Inc. announced on Wednesday that it plans to take its Blackhawk Network Holdings Inc. gift card and payment services unit public. Blackhawk sells gift cards at supermarkets and through other stores, including drug stores and convenience stores.

Safeway said it plans to file a registration statement for a potential initial public offering of a minority stake in Blackhawk and hopes to complete the IPO sometime in the first half of 2013, depending on market conditions.

Beaumont, Texas -- Conn's Inc. posted a better-than-expected a second-quarter profit of $11.6 million, compared with a loss of $3.1 million in the year-ago period. The company also raised its full-year profit forecast for the third time.

Conn’s said revenue rose 10.9% to $207.4 million. Same-store sales rose 21.5% for the quarter, fueled by a 57.5% rise in same-store sales of furniture and mattresses.