FINANCE

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.     

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.    

Supervalu has found a buyer for its discount grocery business, Save-A-Lot.   Supervalu agreed to sell Save-A-Lot to Onex Corporation, a Toronto-based private equity firm, for $1.365 billion in cash. As part of the agreement, Supervalu will provide professional services to Save-A-Lot for five years.     The sale is expected to be completed by January 31, 2017, subject to regulatory approvals and other customary closing conditions.    

Neil Saunders, CEO of Conlumino, a New York-based retail research agency and consulting firm, offers the following insights on September sales results.  

First the good news: Retail sales rose 0.6% in September, after falling a revised 0.2% in August, according to figures by the Commerce Department.     The increase, the most in three months, was helped by a rebound of automobile and restaurant sales.    On the less positive front, excluding autos and gasoline, sales were up only 0.1%, less than economics predicted.    

The nation’s largest specialty toy retailer finds itself in a sweet spot as its most critical selling season approaches.   After years of just cutting costs, Toys “R” Us is starting to put money back into operations, as it looks to grow sales and traffic, Bloomberg reported. And for the first time in a while, the company is building inventory.  

Hhgregg is ensuring its shoppers retain their buying power.   By entered into a multi-year renewal of its consumer financing program, Hhgregg is extending its 17-year partnership with Synchrony Financial. The electronics chain’s private label credit card program provides qualifying cardholders with special financing offers, exclusive in-store and online deals, and online bill pay. The card is accepted across the chain’s 220 stores, and online.