Strategy

Houston -- ATM owner Cardtronics said Tuesday that its USA subsidiary will acquire EDC ATM Subsidiary, LLC and Efmark Deployment I, for approximately $145 million.

The transaction doubles Cardtronics ATM placements in multiple states, giving the company about 3,700 ATMs, as well as numerous ATM placement agreements with high-traffic U.S. retailers and ATM branding contracts with some of the country’s largest financial institutions.

NEW YORK — Parigi Enterprises LLC, a subsidiary of Parigi Group Ltd, a children’s branded apparel company, announced that it has purchased certain assets of the Hartstrings brand and name, in addition to assuming the leases of 23 retail outlet stores. The Little Maven by Tori Spelling clothing line was not among the assets acquired.

Milwaukee -- A Wednesday report by the Milwaukee Business Report said that the Village of Greendale (Wis.) has approved a Walmart and garnered one of several approvals needed for a Macy's at the village’s board meeting held Tuesday.

The board approved rezoning, a special use permit and other plans needed for a 92,000-sq.-ft. Walmart slated to include a pharmacy and grocery with two out-lots for future developments.

SALT LAKE CITY — O.co, formerly Overstock.com, announced that its CEO, Dr. Patrick Byrne, was named executive of the year at the 2011 American Business Awards. O.co was also named best overall company (up to 2,500 employees).

"This is a great achievement for O.co," Byrne said. "I thank and applaud all my colleagues on this great achievement."

Stockholm, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.

WASHINGTON — The vitality of consumer packaged goods companies is healthy again, according to a new report issued by the Grocery Manufacturers Association and PricewaterhouseCoopers on Wednesday.

Toano, Va. -- Hardwood flooring retailer Lumber Liquidators said Wednesday that Richard D. Tadler will be stepping down from the board of directors, effective June 30.

Tadler joined the board in 2004 when TA Associates, the private equity firm of which he is a managing director, originally invested in the company.

TA Associates divested its interest in Lumber Liquidators in 2009, leading to Tadler’s decision to step down.

STOCKHOLM, Sweden -- Hennes & Mauritz AB reported Wednesday that net income for its 2Q dropped 18% to $673 million, from $817 million in the year-ago period.

The Swedish fashion retailer blamed higher procurement costs and promotional offers for the lagging performance.

Sales edged up to $5.1 billion from $4.96 billion in the prior year quarter, but gross margin shrank to 61.7% from a previous 65.9%.