Finance & Capital Management

Petco is preparing for a potential initial public offering or sale that could value the pet supplies retailer at between $4 billion and $5 billion.

Reuters is reporting that the retailer has selected Goldman Sachs to help with an IPO of the San Diego-based company that could take place as soon as this year.

After 20 years of focusing on just five states in the Midwest, Meijer is continuing an estimated $750 million investment in its sixth state -- Wisconsin -- with the opening of two more stores in Wauwatosa and Oak Creek.

Camp Hill, Pa. -- Ken Martindale, one of the key architects behind Rite Aid's recent growth, on Monday was promoted to the new position of CEO Rite Aid stores.

The move is designed to enable Rite Aid chairman and CEO John Standley to focus on expanding the role the drug store plays in healthcare delivery with its EnvisionRx, RediClinic and Health Dialog divisions.
 
Martindale, 55, will continue to report to Standley and will retain his role as president of Rite Aid.
 

Canton, Mass. -- A Rockport veteran is returning to head up the company he left more than 30 years ago.

On Monday, investment firm Berkshire Partners and New Balance Holding completed their acquisition of The Rockport Company from the Adidas Group. As part of the transaction, New Balance affiliate Drydock Footwear will join with Rockport to form The Rockport Group. Bob Infantino was named CEO of the reorganized company.

Lakeland, Fla. -- Publix Super Markets is racking up another record year even as other grocers, including Whole Foods Market, are struggling under the weight of new competition.

Publix reports that sales for the second quarter were $8 billion, a 6% increase from last year’s $7.5 billion. Same store sales for the second quarter increased 4.1%.

Net earnings were $482.7 million, compared to $404.1 million in 2014, an increase of 19.5%.

New York -- Friends of Howard Schultz, the outspoken and politically progressive founder and CEO of Starbucks, are urging him to enter the Democratic race for President, according to a report by Fortune.

To read the full story, click here.
 

Marshfield, Mass. -- Brixmor Property Group has acquired Webster Square, an 182,756-sq.-ft., grocery-anchored community center located on Boston’s South Shore. Cushman & Wakefield oversaw the transaction of the Star Market-anchored community shopping center on behalf of Curtis Management.

New York - Barnes & Noble Inc. on Monday completed the separation of its retail store and college businesses.

Following the spinoff, Michael Huseby, former CEO of Barnes & Noble, became executive chairman of Barnes & Noble Education, which will have a separate board of directors.

Asheville, N.C. – Profit stayed essentially flat at Ingles Markets Inc. for the third quarter of fiscal 2015. Ingles reported net income of $13.78 million, compared to $13.83 million the same quarter the prior fiscal year.

Lower interest and income tax expenses helped Ingles keep profits steady in the face of net sales declining 3% to $945.97 million, from $978.26 million. Declining gasoline prices negatively impacted sales.