Strategy

San Jose Calif. -- Orchard Supply, which sought bankruptcy protection earlier this year, has won court approval of as much as $176.3 million in bankruptcy financing, according to a report by Bloomberg.

The U.S. bankruptcy court approved the loans that will help fund operations as Orchard pursues a sale of at least 60 of its 91 stores. Lowe’s Cos. has the lead offer of $205 million.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced its financial results for the fourth quarter and full-year fiscal 2013 ended March 30, 2013.

The company's net sales increased 9.7% to $434.8 million for the fourth quarter of fiscal 2013 compared to $396.4 million for the fourth quarter of fiscal 2012. Same-store sales, calculated on a comparable 13-week period, increased 4.4%.  

Kansas City -- A new study of the millennial generation shows that many 25- to 34-year-old shoppers change their purchasing habits and behaviors after they start their families.

Phoenix -- GDC/RE has leased a 47,036 former Phoenix Safeway to Epic Stores. The transaction marked GDC/RE’s tenth lease of more than 10,000 sq. ft. in the last 12 months.

“Arizona has been seen as the poster child of big-box vacancy in recent years,” says Joe Doucett, co-founder and designated broker of GDC/RE. “Our firm has re-tenanted every anchor and other large-format space in our portfolio.”

CORNING, N.Y. — Procter & Gamble group president of global beauty Deborah Henretta has been appointed to Corning's board of directors.

Henretta will also serve on the board's audit and finance committees. She will hold office until Corning`s annual meeting of shareholders in the spring of 2014, at which time she will stand for election to a one-year term. Her appointment brings to 13 the number of directors in the specialty glass and ceramics provider’s board.

Washington, D.C. -- The National Retail Federation penned a letter to Speaker of the House John Boehner and Minority Leader Nancy Pelosi, asking Congress to pass a one-year delay of the Affordable Care Act’s employer mandate.  

The impending House vote follows the Administration’s announcement earlier this month of a one-year delay of the employer mandate provisions.

New York -- Muscle Maker Grill has moved from its Eighth Avenue Manhattan location, which was damaged by Hurricane Sandy, to Seventh Avenue between 16th and 17th Streets in Chelsea, according to Winick Realty Group. The new Muscle Maker will open in late summer or early fall.

Winick represented Muscle Maker, and Duell Management, the landlord, was represented in-house.

Revenues at eBay increased 14% to $3.9 billion during the second quarter ended June 30 and profits adjusted to exclude the impact of a divested business increased to $822 million, or 63 cents a share, compared to $730 million, or 56 cents a share.