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Sears Hometown and Outlet Stores spin-off to trade on Nasdaq
New York -- Sears Hometown and Outlet Stores Inc. is set to begin trading on the Nasdaq Capital Market on Friday after Sears Holdings Corp. completed a spin-off transaction of the home appliances, hardware, tools and garden equipment retailer.
Sears Holdings received $446.5 million in proceeds in the transaction, including a $100 million dividend paid by Sears Hometown prior to the separation and about $347 million from a rights offering. -
Report: Rite Aid ordered to pay $800,000 settlement
New York -- A San Diego judge ordered Rite Aid Corp. and its California subsidiary Thrifty PayLess Inc. to pay $800,000 to settle a complaint alleging false advertising, the Associated Press reported.
Prosecutors claimed Rite Aid led consumers to believe they would pay less for items bought using the company's Wellness Card, the report said. However, they were given a coupon and told it was for a future purchase that would expire and was subject to other restrictions.