FINANCE

Staples is getting into the licensing game as a means of expanding its brand. It’s first target — document storage.  

Walgreens, Rite Aid extend date of merger agreement to allow for store divestures   Walgreens Boots Alliance and Rite Aid announced that they have mutually agreed to extend the end date of their merger agreement from Oct. 27, 2016 to Jan. 27, 2017.   The companies now expect the transaction will close in early calendar 2017.  

PetSmart’s recent acquisition will help place pets with prospective forever families even faster.   The specialty pet retailer acquired AllPaws, one of the largest online and mobile platforms that matches those looking to adopt a pet with pets ideally suited for their home, family and lifestyle. Approximately 5,000 animal rescues and shelters across North America already utilize AllPaws to promote their adoptable pets.  

Supervalu Inc. posted disappointing sales results for its second quarter as the company continues to shift its business toward wholesale distribution.       The company released its second quarter results just days after it entered into an agreement to sell its Save-A-Lot discount grocery chain to Canadian private equity firm Onex for $1.37 billion in cash.   

Alliance Data’s card services business has renewed its agreement with Restoration Hardware.   Alliance signed a long-term renewal agreement to provide private label credit services for the luxury home furnishings retailer.       

Dick’s Sporting Goods has cast its eye on another bankrupt sports retailer and former competitor.   In June, Dick’s acquired the intellectual property of the bankrupt Sports Authority. Dick’s is now preparing a bid for the U.S. business of Golfsmith International Holdings Inc., according to Reuters.      In making a bid, Dick’s is going up against an offer by Worldwide Golf Shops, according to the report.     

The surge in home improvement projects is helping fuel sales at The Tile Shop.    Tile Shop Holdings Inc. on Tuesday reported third-quarter profit of $4.6 million for the third quarter, ended Sept. 30. Earnings, adjusted for non-recurring costs, came to 10 cents per share.   The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.  

New York investment management firm Alden Global Capital is not happy with the board — or the CEO — of Pier I Imports.     Alden, the retailer’s largest active institutional investor, is demanding a shakeup of the Pier 1 board, reported the Dallas Business Journal.