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American Eagle to expand store base into the Philippines
Pittsburgh -- American Eagle Outfitters said Thursday it has struck a deal with Suyen Corp. that will see the AEO banner open throughout the Philippines.
American Eagle signed a multiyear retail license agreement with Suyen, which operates more than 700 stores under various banners in the Philippines, along with 126 franchised stores in the country. Financial terms were not disclosed.
The first stores in the country, which will consist of standalone and in-store shops, are slated to open spring 2013.
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Safeway to take Blackhawk unit public
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.