Finance & Capital Management

HOUSTON — Stage Stores is consolidating its South Hill, Virginia regional operations into its Houston, Texas corporate headquarters, in an effort to increase efficiency, create synergies, reduce expenses and enhance growth.

New York -- A&G Realty Partners said Tuesday it has been retained by Bakers Footwear Group Inc. to handle the liquidation of its remaining 56 mall stores.

According to A&G, an auction for the store leases is slated for Feb. 18, with a deadline to submit bids to A&G Realty by Feb. 21.

Atlanta -- A report released Tuesday by First Data Corp. found that dollar volume growth rebounded in January, improving to 6.2% versus 4% in December despite the payroll tax increase.

The First Data SpendTrend report, which tracks same-store consumer spending by credit, signature debit, PIN debit, EBT, closed-loop prepaid cards and checks at U.S. merchant locations, found that improved retail spending was a large contributor to the January growth.   

New York -- A Tuesday report by the Wall Street Journal said that Harris Teeter Supermarkets is considering putting itself up for sale.

Citing unnamed sources, WSJ reported that the grocer is working with J.P. Morgan Chase & Co. to pursue strategic options.

No one from Harris Teeter has commented yet.

NAPERVILLE, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, L.L.C.  Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").

Naperville, Ill. -- OfficeMax has received approximately $129 million in cash proceeds related to its October 2004 investment in Boise Cascade Holdings, LLC. Since 2004, OfficeMax has held two classes of securities in BCH, non-voting equity securities ("Series A Units") and voting equity securities ("Series B Units").

Chicago -- A new Symphony Consulting survey found that the new 2% increase in payroll tax is causing a major shopping behavioral change among lower-income families.

A division of SymphonyIRI Group, Symphony Consulting revealed Monday that dollar stores may be the biggest winners in the battle for the lower-income spenders’ purchasing power.

Omaha, Neb. -- Apparel and home décor chain Gordmans announced Monday it has appointed Michael Morand as EVP and chief merchandising officer.

Morand has served as Gordmans' EVP planning, allocation and analysis since 2008. In his new position, he will lead the combined merchandising and planning team and drive the retailer’s continued expansion in both new and existing markets.