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Rue21 ‘go-shop’ period expires without bid
Warrendale, Pa. -- Rue21 Inc. said Wednesday that the “go-shop” period that would have allowed it to be sold to an alternate buyer has expired, edging the specialty apparel and accessories chain closer to a deal with Apax Partners.
In May, Rue21 reached a deal to sell itself to Apax for nearly $1 billion; terms allowed the retailer to shop competing bids until July 2. Although 60 potential buyers were contacted, none submitted a competing bid to acquire the company.
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Walgreens sales up 2.5% in June
Deerfield, Ill. -- Walgreens on Wednesday reported June sales of $5.79 billion, an increase of 2.5% from the year-ago period.
Total front-end sales increased 2.2% compared with the same month last year, while comparable store front-end sales increased 0.8%. Customer traffic in comparable stores decreased 2.9%, while basket size increased 3.7%.