Strategy

Irving, Texas -- Michaels Cos. has raised $472 million in an initial public offering. The arts-and-crafts retailer priced 27.8 million shares at $17 each, which was at the low end of its predicted range. It plans to use the IPO's proceeds to pay down its debt.

The chain, which operates stores under its namesake banner and Aaron Brothers, could raise up to $543 million if underwriters use their option to buy additional shares. 

The stock was expected to start trading Friday on the Nasdaq under the symbol "MIK."

The Rick Dreiling era is coming to an end at Dollar General as the chairman and CEO announced plans to retire next year, initiating a search internally and externally for a successor.

Chicago -- Stego Industries, a provider of in below-slab moisture vapor protection, has launched an ambitious new company-level initiative to eliminate the carbon emissions of its business operations.

The initiative, Stego’s Carbon Footprint Project, took another step toward this goal at the American Association of Architects (AIA) National Convention in Chicago last week by purchasing carbon offsets for all of the company’s air travel in 2013 — some 115 metric tons — through the TerraPass Carbon Balanced Business Program.

Los Angeles -- Drybar, the leading blowdry-only salon concept, has received a $20 million investment led by SPK Capital and existing investor, Castanea Partners.
 

Indianapolis -- The Finish Line’s first-quarter profit more than doubled as the retailer expanded its presence online and in Macy's stores nationwide. Its results topped Wall Street estimates.
 
The retailer reported a profit of $12.4 million, compared to $5.1 million in the year-ago period. Revenue was up 16% to $406.5 million. Same-store sales increased 5%.
 

In its PizzaRev case study series, CSA offers an insider’s look at the conception, initial rollout and growth of the southern California-based fast-casual concept PizzaRev. Likened to “the Chipotle of pizza,” this innovative chain lets customers choose from an artisanal array of toppings to craft their own pizzas very quickly in a high-end stone hearth oven.

Chico's FAS has appointed Todd E. Vogensen as SVP, CFO, replacing Pamela Knous, who has left the company.

Prior to his appointment as CFO, Vogensen had been the company's SVP of finance. He will report to Kent Kleeberger, who himself filled the CFO spot from 2008 to 2011 and is currently EVP, COO.

Paterson, N.J. — Planet Fitness will open an 18,000-sq.-ft. facility at 100 Hamilton Plaza in Paterson, New Jersey, the facility will occupy the first-floor retail space in the 175,000-sq.-ft. downtown office tower.

Cushman & Wakefield’s East Rutherford, N.J., office represented the building’s owner, Mountain Development Corp. in the transaction. Ripco Real Estate represented the Planet Fitness franchisee, who operates several other regional locations.