Legislative, Regulatory & Legal

New York City -- Months after a voter initiative to abolish North Dakota's strict restrictions on pharmacy ownership foundered, the long-running debate resumed Tuesday in the state’s legislature, the Associated Press reported.

North Dakota is the only state in the nation that requires pharmacists to have majority ownership of most pharmacies. The law prevents major retailers, such as Wal-Mart Stores, from operating pharmacies in their own stores.

New York City -- A&P plans to close 32 stores in six states, including four in the New York City area, Crain’s New York reported.

Among the stores slated to close are 14 Pathmarks, seven Super Fresh shops, four A&Ps and three Waldbaums, according to the report.

A&P operates 395 stores in eight states and the District of Columbia under the banners A&P, Waldbaum's, Pathmark, Best Cellars, The Food Emporium, Super Fresh and Food Basics. The company filed for Chapter 11 bankruptcy in December.

Berlin, N.J. -- A.C. Moore Arts & Crafts said Tuesday it is considering a potential sale of the company.

The arts-and-crafts retailer revealed that its board is looking at strategic options to boost shareholder value, which may also include corporate financing or raising capital. It said there has been third-party "expressions of interest," but that it won't discuss any developments unless its board approves a specific transaction.

New York City -- A Tuesday report by the Wall Street Journal said that hedge fund billionaire and Sears Holding Corp. chairman Edward Lampert has reported holding a 5.8% stake in Gap Inc.

Lampert reported the stake in a 13G filing, or a filing for passive investors, with the Securities and Exchange Commission late Monday.

His ESL Partners company and affiliates reported beneficially holding 35 million common shares.

MONTVALE, N.J. — Bankrupt grocer A&P reported in a recent filing with the Securities and Exchange Commission that Brenda Galgano, SVP, CFO and treasurer, will resign, effective March 27.

According to the filing, Galgano gave her notice on Feb. 10. No additional details on her departure were disclosed.

New York City -- Supermarket veteran Mike Gilliland, the founder, chairman and CEO of Sunflower Farmers Markets, was arrested after being charged in an undercover child-prostitution sting and has resigned, according to reports. Gilliland also was a founder of Wild Oats Market.

Chris Sherrell was named acting CEO following Gilliland’s resignation on Saturday, Sunflower Farmers Market said on its website. Gilliland also quit his post on the Phoenix-based Sunflower’s company's board of directors.’

New York City -- South Africa’s competition watchdog has recommended that Wal-Mart Stores’ proposed takeover of the country’s retail chain Massmart be unconditionally approved without conditions.

Wal-Mart made a $2.4 billion bid for Massmart in November, and a vast majority of the target company’s shareholders voted to approve the deal last month.

The deal now needs final approval from South Africa’s competition tribunal. A date for the hearing and subsequent ruling has yet to be set.

New York City -- Barnes & Noble invited Amazon.com's affiliates to join its program instead in an "open letter" Monday, as Amazon continues to oppose legislation that requires it to collect sales taxes in several states, the Associated Press reported.