Strategy

San Jose, Calif. -- VeriFone Systems and Hypercom Corp. announced that they have reached an agreement to sell the U.S. payment systems business of Hypercom to Ingenico S.A.

The transaction is expected to close immediately prior to completion of VeriFone’s acquisition of Hypercom, which is expected to occur in the second half of 2011, subject to certain closing conditions.

By Sandra Gold Slon

Who needs an exit strategy? In this economy, most of us are aware of tenants facing difficulties in meeting their lease obligations. If we weren’t thinking about it front and center, it was brought front and center when Borders declared bankruptcy, closing hundreds of stores.

GRAPEVINE, Texas -- GameStop has acquired Spawn Labs, a streaming technology company. In addition, GameStop announced it has entered into an agreement to purchase Impulse, a subsidiary of Stardock Systems, and a leader in digital distribution. The Impulse acquisition is subject to customary closing conditions and is expected to close in May.

NEW YORK -- Walmart, Target, The Home Depot, Best Buy and CVS took top honors in Interbrand’s annual ranking of the 50 most valuable U.S. retail brands. The U.S. brands are valued in collaboration with Interbrand Design Forum, the retail experience group within Interbrand.

The $33 million profit Office Depot posted in 2010 turned into a $46 million loss late Thursday after the company released restated financial results that reflected an unfavorable tax ruling by the Internal Revenue Service.

ALEXANDRIA, Va. — The National Association of Chain Drug Stores has hired Julie Philp as director of federal affairs to bring additional pharmacy and legislative expertise to the government affairs team. She joins NACDS on April 11.

"Julie is a seasoned advocate with experience in pharmacy and on Capitol Hill, and she will bring a wealth of expertise to NACDS," stated NACDS president and CEO Steve Anderson. "NACDS members will enjoy working with Julie, and we are pleased to welcome her to NACDS' highly effective team."

PITTSBURGH — General Nutrition Centers Thursday evening announced its initial public offering of 22.5 million shares of its Class A common stock at an opening price of $16 per share.

Of the shares offered, 16 million are being issued and sold by GNC and 6.5 million shares are being sold by selling stockholders.

In addition, selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 3.4 million shares. That offering is expected to close on April 6.

WAYNE, N.J. — A company that specializes in "As Seen on TV" products has named a new chief operating officer.

Ron Boger, who currently serves as EVP of IdeaVillage, will take on the COO role. He will work with company founder Anand Khubani in launching new and innovative products in the mass market.

Boger is credited with bringing such products as SlimShots, Yoshi ceramic knife, Fushigi ball, and Criss Angel MindFreak magic kits and tricks and more under the IdeaVillage banner and into the mass market.

PLEASANTON, Calif. — Safeway on Friday announced the start of its companywide fundraising campaign for Easter Seals, Special Olympics, Rebuilding Together and a range of job training programs that help people with disabilities live fuller lives.

New York City -- Several bidders, including Dish Network Corp. and billionaire investor Carl Icahn, are ready to battle for Blockbuster at a bankruptcy auction in New York on Monday, the Associated Press reported. The chain, which filed Chapter 11 in February, has received several bids other than the opening bid of $290 million from a group of debtholders made in February.

Dish and Icahn have each submitted a bid, The Wall Street Journal reported Friday.