Financial/Banking

St. Petersburg, Fla. - HSN Inc. (HSNi) has entered into a new $1.25 billion five-year credit facility, replacing its existing $600 million credit facility. In addition, in continuation of the company's capital return plan, the board of directors declared a special cash dividend of $10 per share, representing approximately $525 million.

New York – Investment fund Trian Fund Management LP has reportedly reduced its stake in Family Dollar Stores Inc. from 7% to a little more than 2%. According to the Wall Street Journal, the fund, headed by activist investor Nelson Peltz, had publicly supported the Family Dollar-Dollar Tree merger.

Triad has an executive on the Family Dollar board. The SEC has confirmed Family Dollar shareholder approval of the Dollar Tree merger.
 

Prepaid payment provider Blackhawk Network has created a new division dedicated to providing customized engagement, incentive and rebate programs for consumers, employees and sales channels.

Less than a week after getting shareholder approval to sell itself to Dollar Tree Inc., Family Dollar said fewer discounts led to increased December sales.

For the month ended Jan. 3, Family Dollar said its sales increased 3.6% to $1.21 billion from a year earlier. Same-store sales increased 1.2%, compared with a 3% decline last December.

Grapevine, Texas – GameStop is running its annual “Re-Fun Your Refund” program. Starting Jan. 26 and running through March 1, customers can use their tax refund to pick up video games or electronics.

GameStop is offering a variety of discounts and special offers for video games, consumer electronics, and accessories. For the second consecutive year, GameStop is partnering with H&R Block to bring exclusive GameStop deals to H&R Block Emerald Card holders and can be redeemed at all GameStop store locations or online.

Toronto – The board of directors of Sears Canada Inc. has named Ronald D. Boire as president and CEO. Boire has served as the company's acting president and CEO since Oct. 15, 2014.

Prior to his role with Sears Canada, Boire was executive VP, chief merchandising officer and president, Sears and Kmart Formats, Sears Holdings Corp. Prior to joining Sears Holdings in January 2012, Boire was president and CEO at Brookstone, a position he held from October 2009.

New York – Consumers mostly spent within their means during the 2014 holiday season. Only one-in-six Americans spent more than expected this holiday season, according to a new Bankrate.com report.  

This is consistent with readings in previous years. Millennials (Americans ages 18-29) were twice as likely as those ages 30-49 to have spent more during the holidays than intended. Overall, one-in-four Americans spent less than expected this holiday season.

Fort Worth, Texas - RadioShack Corp. announced that it received a continued listing standards notice from the New York Stock Exchange (NYSE) on Jan. 15. The retailer received the notice because its average market capitalization was less than $50 million during a period of 30 consecutive trading days and stockholders' equity of the company was below $50 million.