Strategy

Toronto -- Canada's Hudson's Bay Co. is set to raise C$365 million ($367 million) in its initial public stock offering, Reuters reported. The amount is lower than the retailer’s original target of about C$400 million.

Hudson’s Bay has priced the offering of 21.48 million shares at C$17 apiece, which is at the bottom of the company's already lowered range of C$17 to C$18.

Philadelphia -- Urban Outfitters reported Monday that net income in the third quarter rose 17.4% to $59.5 million, compared with $50.7 million in the prior-year period but missing Wall Street estimates.

Sales rose 13.6% to $692.9 million, narrowly missing analysts’ expected $692.5 million in revenue. Same-store sales dipped 1%.

Strong sales of the top 15 brands at H.J. Heinz enabled the company to produce its 30th consecutive quarter of organic sales growth, the company announced Tuesday.

The company's top 15 brands collectively produced organic sales growth of 4.6%, led by Heinz, Quero, ABC, Classico, Golden Circle, Master and Ore-Ida brands. Global Ketchup delivered organic sales growth of 5% thanks to a strong performance in U.S., Brazil and Russia.

Jackson, Miss. -- WS Development announced that Whole Foods Market broke ground in early November on a new 31,000-sq.-ft. store at Highland Village in Jackson, Miss., marking the grocer’s debut in the state.

The new store will open in 2013, joining about 50 shops and restaurants at the 220,000-sq.-ft. mixed-use center, such as Mason Weiss, Talbots, Whitehead Street Clothiers, and Albriton's Jewelers.

WATERBURY, Vt. — Green Mountain Coffee Roasters has named former P&G and Coca-Cola executive Brian Kelley as its new president and CEO, effective Dec. 3.

Covington, La. -- Stirling Properties has announced it will develop a new full-service Walgreens drugstore in Gulfport, Miss.  

The proposed Walgreens will be located on a former Gulfmart Shopping Center site. Stirling Properties is providing development services, including lease negotiation, financing, and project management, to a third party owner of the property.

Best Buy on Tuesday continued its string of negative same store stores sales, posting a 4% decline at U.S. stores, and recorded a worse than expected profit.

Los Angeles -- Urban Partners and Harbor Urban announced that David Walker has joined the company as VP capital markets.

Walker will be responsible for actively procuring debt and equity capital for both entities. The firm is currently focused on urban infill assets in West Coast markets and, together with AREA Property Partners, recently acquired Seattle-based Harbor Properties and merged it with Urban Partner’s local office to form Harbor Urban.