Strategy

New York -- Hudson’s Bay Co., owner of the Lord & Taylor and The Bay chains, plans to file for an initial public offering, according to The New York Times.

A listing, which is expected to be on the Toronto Stock Exchange, could come this fall, before the end of November, the report said, with as much as 20% of the company being sold to the public.
 

Dallas -- Retalix Ltd., a leading global provider of software and services for high-volume, high-complexity retailers, announced that it has acquired Cornell Mayo Associates, a leading provider of store systems serving top tier department stores and large specialty retailers.

“Who agreed to this language?”

How many times have each of us been handed leases containing  terms which cause us to   ask , “Where did these provisions come from?” or “This is the first time I’ve seen these stipulations, did the transactions group understand the costs of compliance?” The answer is: probably more times than we’d like to recall.

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.

Beaumont, Texas -- Conn's Inc. posted a better-than-expected a second-quarter profit of $11.6 million, compared with a loss of $3.1 million in the year-ago period. The company also raised its full-year profit forecast for the third time.

Conn’s said revenue rose 10.9% to $207.4 million. Same-store sales rose 21.5% for the quarter, fueled by a 57.5% rise in same-store sales of furniture and mattresses.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $1.65 billion asset-based credit facility for Supervalu Inc.

The loan will be used for working capital needs and to refinance existing debt. GE Capital Markets served as joint lead arranger and joint bookrunner.

“This financing will provide Supervalu with more financial flexibility as we execute our business turnaround.” said Sherry Smith, executive VP and CFO of Supervalu.

Camp Hill, Pa. — Rite Aid posted a 0.4% increase in same-store sales for the month of August.

The increase included a 2.4% increase in front-end comps and a 0.6% decrease in pharmacy comps.

Total store sales for the five-week period that ended Saturday were $2.406 billion, a 0.4% decrease from last year's $2.414 billion. Same-store prescription count increased by 4.5%.
 

Toys "R"Usenhanced its layaway program by dropping some fees and Walmart quickly responded.

Toys "R" Us dropped the $5 service fee and minimum purchase requirement from its layaway program in a bid to capture sales of those who begin their holiday shopping early.The company said it changed the rules for its layaway program, instituted in 2009, to waive the $5 upfront service fee and eliminate the minimum purchase requirement for all orders created in stores through October 31.

Leading closeout retailer Tuesday Morning named Brady Churches as CEO three months after the departure of former CEO Kathleen Mason.