Corporate Governance

Camp Hill, Pa. — Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Rite Aid said it would buy back all of its $810 million worth of 9.5% senior notes due 2017. The company also said it would increase the $400 million offering of 6.75% senior notes due 2021 by another $410 million, for a total of $810 million, as part of a debt-refinancing plan.

DEERFIELD, Ill. — Walgreens and Chicago-based solar developer SoCore Energy plan to build more than 200 new solar installations at Walgreens stores throughout California, Connecticut, Delaware, Massachusetts, New Jersey and New York.

This latest expansion will bring the number of completed solar installations at Walgreens stores to more than 350, making the company the leading retailer in number of solar powered stores.

CINCINNATI — Procter & Gamble is launching its latest ad campaign in the Big Apple. Called the Everyday Effect, the campaign is the largest consumer event in the company's 175 year history and will involve P&G representatives showing New Yorkers why they should consume P&G products.

The company will demonstrate how its brands make “everyday life better” and broadcast results of these demos through on-the-ground reports, social media updates and content featured across the company’s website and social media pages. 

Washington, D.C. – The Retail Industry Leaders Association elected Ron Boire, president of Sears and Kmart, to its board of directors, during its semi-annual meeting in Washington, D.C. 

The board also re-elected Home Depot chair and CEO Francis Blake, 7-Eleven president and CEO Joseph DePinto, Petco CEO James Myers and J.C. Penney CEO Myron Ullman.

San Jose, Calif. -- A Wednesday report by Bloomberg said that Orchard Supply Hardware Stores Corp. has been given approval by the bankruptcy court to seek bids from liquidators to run going-out-of-business sales at eight underperforming stores and potentially another 22.

Greg Bailey was named director of business process and implementation at Enhanced Retail Solutions, a software and consulting firm focused on point of sale analytics and demand planning solutions for suppliers and retailers.

Virginia Beach, Va. -- Divaris Real Estate has arranged five retail leases for space in Chesapeake, Norfolk and Virginia Beach.

T-Mobile signed three leases for 4,225 sq. ft. The company will move into 1,600 sq. ft. in Kempsriver Crossing in Virginia Beach, 1,500 sq. ft. in Southern Shopping Center in Norfolk and 1,125 sq. ft. in Indian River Shoppes in Chesapeake.

Original Mattress Factory is relocating to a larger space in Sam’s Circle in Chesapeake. The new space is 2,400 sq. ft.

NEW YORK — To mark the launch of Colgate Total Advanced Pro-Shield Mouthwash, Colgate will team up with actress and television host Stacy Keibler to try to break the Guinness World Record for most people using mouthwash simultaneously, currently at 1,061.

Called "A Wish for a Swish," the event will be held at noon EDT Tuesday, June 25 in New York City's Times Square.