Trading Partners

Matthews, N.C. – Howard Levine, CEO of Family Dollar Stores Inc., reportedly plans to sell between one and two million shares of company stock in the next 10 days. According to the Charlotte Business Journal, Levine filed his intention to make the sale with SEC.

St. Petersburg, Fla. - HSN Inc. (HSNi) has entered into a new $1.25 billion five-year credit facility, replacing its existing $600 million credit facility. In addition, in continuation of the company's capital return plan, the board of directors declared a special cash dividend of $10 per share, representing approximately $525 million.

Sunnyvale, Calif. – Yahoo Inc. plans a tax-free spin-off of its remaining holdings in Alibaba Group. The spinoff will create an independent registered investment company called SpinCo.

Stock of the new company will be distributed pro rata to Yahoo shareholders, resulting in SpinCo becoming a separate publicly traded company. Following the spin-off, Yahoo will continue to operate its core business and hold its 35.5% interest in Yahoo Japan.

Boise, Idaho -- Albertsons and Safeway announced on Tuesday that they have received clearance from the U.S. Federal Trade Commission for the companies' proposed merger, which was announced on March 6, 2014.


The FTC's clearance follows Albertsons' and Safeway's agreement to a proposed consent order, which includes a commitment to divest 168 stores.



The U.S. Federal Trade Commission has cleared the merger of supermarket operators Safeway Inc. and Albertsons, creating a larger competitor to rival chain Kroger. But there is one caveat.

The FTC agreed to the deal only after Safeway and Albertsons agreed to sell 168 stores to address the FTC’s competition concerns.

Arlington, Va. - The Retail Industry Leaders Association (RILA) will testify Tuesday, Jan. 27 at the House Energy and Commerce Subcommittee on Commerce, Manufacturing and Trade hearing, “What are the Elements of Sound Data Breach Legislation.” In his testimony, Brian Dodge, executive VP at RILA, will focus on retailers’ priority of supporting a strong preemptive federal data breach law that allows for reasonable and clear notice triggered by potential customer harm.

Cupertino, Calif. – Mickey Drexler, chairman and CEO of J. Crew and former CEO and president of Gap Inc., is retiring from the board of directors of Apple Inc. as of March 2015. Apple disclosed the impending retirement in a filing with the Securities and Exchange Commission (SEC).

Drexler has served on the Apple board since 1999 and is currently its longest-tenured member. No replacement has been announced. Drexler was initially recruited to the Apple board to help the company, which opened its first store in 2001, create a retail strategy.

Retailers factor in all kinds of variables when evaluating suppliers and a recent change at sauce and dressing manufacturer Litehouse gives sellers of food and consumables something new to think about.

The 50-year-old family owned Litehouse company based in Sandpoint, Idaho recently became 100% employee owned following the execution of an employee stock ownership plan. Litehouse first formed an ESOP plan in 2006 when it sold 30% of the company as a commitment to employees and their communities.