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Retail

  • Walmart looks to resolve Canada’s raccoon problem

    MISSISSAUGA, Ontario – Walmart Canada is looking to resolve Canada’s raccoon problem by carrying Great Value Mint-X raccoon repellent garbage bags. 

     

  • George Soros takes 7.9% stake in J.C. Penney

    New York -- Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.  

    The stake, which was seen as a vote of confidence in returning CEO Mike Ullman, makes the billionaire investor the fourth-largest Penney shareholder, with a 7.9% stake.

     

  • Max-Wellness tries mini-stores on for size

    CLEVELAND — Max-Wellness is set to open the first of its new concept Mini-Max stores in the Center for Healthy Living situated on the 83-acre campus of Moorings Park, an upscale Naples, Fla., retirement community. 

     

    The grand opening will be held May 7 and will feature a number of services for its 700-plus residents and visitors, including medical and exercise facilities, a spa and beauty center and a 75-seat movie theater.

     

  • Report: Goldman Sachs arranges $1.75 billion J.C. Penney loan

    New York -- A Friday report by CNBC said that Goldman Sachs has lined up a $1.75 billion financing package for J.C. Penney Co., backed by the retailer’s real estate and other assets.

    The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company.

    Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.

     

  • Gander Mtn. sets sights on Rogers, Minn.

    ST. PAUL, Minn. — Leading firearms retailer Gander Mountain will open the state’s first dedicated Gander Mtn. Firearms Super Center in Rogers, Minn., by the end of April. It will be the retailer’s 12th store in the state.

  • Former Morgan Stanley exec joins CIT Group

    NEW YORK — CIT Group, a leading provider of financing and advisory services to small businesses and middle market companies, has named Todd Harrington Northeast regional sales manager of CIT Trade Finance.

     

    He will report to Marc Heller, Northeast regional manager and international manager of CIT Trade Finance.

     

  • Online sales tax bill moves forward in Senate

    New York -- The U.S. Senate on Thursday voted to move forward with the Marketplace Fairness Act, legislation that would allow states to force retailers to collect online sales taxes, if the states choose to do so.  

  • Former Aeropostale exec guilty in kickback conspiracy

    NEW YORK — Christopher Finazzo, 57, a former EVP and CMO at Aeropostale, was found guilty of 14 counts of mail fraud, one count of wire fraud and one count of conspiracy. He faces up to 20 years in prison on each of the fraud convictions and up to five years for the conspiracy charge.

     

    The jury took less than five hours to reach the verdict, which came after a three-week criminal trial in Brooklyn, N.Y. 

     

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