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  • Report: Two firms team up for BJ’s buyout bid

    New York City -- Two private equity firms are teaming up to make a bid to purchase BJ’s Wholesale Club, the New York Post reported.

    Leonard Green & Partners and CVC Capital Partners are reportedly set to offer $2.8 billion to purchase the club retailer, according to the Post.

    Rumors that BJ's Wholesale could be sold have been circulating for months. In March, the chain revealed in an SEC filing that it entered into a "confidentiality agreement" with Leonard Green to evaluate a possible purchase.

  • Safeway inks deal with Coinstar

    PLEASANTON, Calif. — Safeway is bringing Coinstar's self-service coin-counting kiosks to its U.S. and Canada stores, the supermarket retailer announced Thursday.

    Safeway said it agreed to install 1,400 Coinstar kiosks by the end of 2011, with installations slated to begin this month in Safeway stores and its banners, including Vons, Dominick's, Randalls, Tom Thumb, Genuardi's, Pavilions, Carrs and Pak N' Save.

  • Gap to close 200 U.S. stores, will expand outlets

    San Francisco -- At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.

    While the company did not identify which stores will close, Gap said the 200 Gap brand closures over the next two years will be accompanied by a push to expand its Gap Outlet and Banana Republic factory chains.

  • Report: Petco acquires Complete Petmart chain

    Dayton, Ohio -- A report Wednesday by the Business Courier said that Petco has purchased a 29-store Complete Petmart chain, based in Dayton, Ohio.

    Financial terms of the purchase were not disclosed. San Diego, Calif.-based Petco said all of the chain's 230 employees will become employees of privately held Petco Animal Supplies.

    Petco said it will be making changes to the former Complete Petmart store layouts over the next few weeks.

  • J. Crew swings to loss in Q1

    New York City -- J. Crew Group reported Thursday that it lost $29.9 million in the fiscal third quarter, compared to a profit of $44.7 million in the year-ago period.

    The apparel retailer said the loss was due to markdowns to clear out excess inventory and charges related to being acquired.

    J. Crew went private in March in a $3 billion deal with two private-equity firms.

    Revenue dropped 3% to $281.2 million. Same-store sales fell 3%.
     

  • NRF praises Senate vote in favor of swipe-fee reform

    Washington, D.C. -- On Wednesday, the Senate rejected the Tester-Corker amendment to delay swipe-fee reform.

  • From e-commerce to f-commerce and who knows, t-commerce?

    A Wild West atmosphere remains evident in the world of e-commerce as brands, once reluctant to sell directly to customers online for fear of alienating retailers, are now experimenting with novel ideas that just a few years ago would have been unthinkable.

    For example, Ad Age this week chronicles an example involving Procter & Gamble selling products direct to consumers on its Facebook fan pages for several leading brands such as Tide, Gillette, Olay, Gain, CoverGirl, Luvs and Febreze.

  • Major Barnes & Noble shareholder reduces stake

    New York City -- According to a Wednesday filing with the SEC, major Barnes & Noble shareholder, Aletheia Research & Management, has cut its stake in the bookseller from 10.6% to 8.65%.

    Aletheia was accused by Barnes & Noble of teaming with activist investor billionaire Ron Burkle during a proxy fight last year.

    The reduction comes about two weeks after Liberty Media made a $1 billion offer for Barnes & Noble.

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