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Timberland to expand in China
Stratham, N.H. -- A Tuesday report by the Wall Street Journal said that outdoor gear retailer Timberland will expand its presence in mainland China from 110 stores currently to double that number.
According to the company’s president and CEO, Jeffrey Swartz, who was interviewed by WSJ, the retailer sees the potential to more than double its doors in the next three years.
Swartz said one way his company can connect with Chinese consumers is by highlighting its environmental credentials. -
Jo-Ann Stores to be acquired for $1.6 billion
HUDSON, Ohio - Jo-Ann Stores announced that it has entered into a definitive agreement to be acquired by an affiliate of Leonard Green & Partners, L.P., for a total price of approximately $1.6 billion, or $61 per share in cash. The offer price represents a 34% premium to the closing price of Jo-Ann’s shares on Dec. 22.