Finance & Capital Management

Quebec, Canada -- Canadian home-improvement chain Rona Inc. said Thursday it has reached an agreement to sell off its plumbing, heating, ventilation and air conditioning business to Emco Corp. in a deal worth about $207 million.

The division sells plumbing, heating, ventilation and air conditioning systems to commercial and industrial construction customers. The move is expected to add additional financial stability to the company, which is in the midst of a three-year turnaround plan.

Pleasanton, Calif. -- Ross Stores has agreed to pay a $3.9 million fine to the Consumer Product Safety Commission (CPSC) for neglecting to inform the commission within a mandated 24-hour period that it sold or stocked in stores roughly 23,000 pieces of children’s apparel with drawstrings located at the neck or waist between January 2009 and February 2012. Sales of children’s clothing with these types of drawstrings has been officially banned in the U.S. since 2011 and subject to voluntary restrictions since 1996.

Growth opportunities in new geographies prompted Kroger to realign its organizational structure and place four executive in new roles.

Just two days after reporting strong first quarter results, the nation’s second largest food retailer established two new supermarket divisions in Nashville and Louisville.

New York -- A report released Thursday by Bloomberg said that consumer sentiment climbed during the week ended June 16 to minus 29.4, compared with minus 31.3 a week earlier and representing a lift after a two-month low. In fact, according to the Bloomberg Consumer Comfort Index, Americans’ views on the economy were the least pessimistic in five years.

The monthly Bloomberg consumer economic expectations gauge for June held at minus 1, matching May’s reading as the best this year.

Chesapeake, Va. – Shareholders of Dollar Tree re-elected 11 members of the board of directors at the company’s annual meeting on June 20. Arnold S. Barron, Macon F. Brock, Jr., Mary Anne Citrino, H. Ray Compton, Conrad M. Hall, Lemuel E. Lewis, J. Douglas Perry, Bob Sasser, Thomas A. Saunders III, Thomas E. Whiddon, and Carl P. Zeithaml each received a majority of votes to serve another term on the board of directors.

New York -- Starbucks Coffee Company is raising prices on some of its beverages starting on Tuesday. Prices will rise an average of 1% starting June 25, but will vary slightly in different regions.
   
"Less than a third of beverages will see a small increase in most stores," said Lisa Passe, a Starbucks spokeswoman, in an Associated Press report.

GOODLETTSVILLE, Tenn. — Dollar General received a Gold Stevie award for Company of the Year in Retail at the 11th annual American Business Awards in recognition of the company’s position as an industry leader in the retail sector.

Amazon.com and Walmart.com both sell products online, but that’s where the similarities end despite frequent efforts to compare the two.