Corporate Governance

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports will be flat in May compared with the same month last year, but is expected to see solid year-over-year increases through this summer and the back-to-school season, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.

Merrimack, N.H. -- Brookstone has introduced automatic free shipping on all orders over $99 through Brookstone.com.

Orders less than $99 will automatically ship for a flat rate of $4.99.  Brookstone has also extended its customer care center hours to provide longer customer support hours and round-the-clock catalog ordering by phone.

Deerfield, Ill. -- Walgreens on Monday announced it has completed its acquisition of certain assets of BioScrip’s community specialty pharmacies and centralized specialty and mail-service pharmacy businesses. The transaction represents a total deal value of approximately $225 million.

Chelmsford, Mass. -- Hannaford Bros. Co., the second-largest New England-based supermarket chain, has enhanced its workforce management suite of solutions from Kronos Inc.

New York -- St. Louis Real estate services provider Cassidy Turley announced that its retail corporate services team has been awarded project management services for DEB Shops new and remodeled stores throughout the United States.

Cassidy Turley will work with DEB to manage all components of the program, from store planning and design through construction, fixturing, closeout, and opening.

Armington Hills, Mich. -- Agree Realty Corp. announced it has been named a Florida development partner for Wawa, which operates more than 590 convenience stores in Pennsylvania, New Jersey, Delaware, Maryland and Virginia.

“We are extremely pleased and tremendously excited to partner with Wawa on their expansion into Florida. Their pioneering approach to the convenience store and fuel station experience will offer Floridians additional choices and varieties that they have never had,” said Joey Agree, president and COO.
 

New York -- Barneys New York said that it has reached an agreement with its largest lender, Perry Capital and other lenders to significantly reduce the retailer’s debt and improve its capital structure. Under the arrangement, Perry Capital has become the majority owner of Barneys. Under a debt-for-equity swap with Perry Capital, as well as other lenders, Ron Burkle's Yucaipa Cos and current owner Istithmar World, the chain's long-term debt will fall to $50 million from $590 million. The deal makes Perry Capital the majority owner of Barneys.

By Robin Lewis, [email protected] and Michael Dart, [email protected]

Hollywood, Calif. -- Frederick's of Hollywood Group Inc. has retained Allen & Co. LLC, a New York-based investment bank, to assist the retailer in evaluating and exploring a broad range of strategic alternatives, including a sale of the company or a business combination.

Eastleigh, United Kingdom -- SAP AG announced that British multinational home-improvement retailing company B&Q has gone live with the SAP Forecasting and Replenishment application. The deployment is part of the chain’s "Project Clover" business transformation program.