Retail

Former Best Buy chairman Richard Schulze is reportedly close to reaching an agreement to buy the company he founded, according to a Minneapolis Star Tribune report citing a source close to the situation.

New York -- A Thursday report by the Minneapolis Star Tribune said that Best Buy Co. founder Richard Schulze is expected to make a fully financed offer of $5 billion to $6 billion by the end of the week to buy the retailer.     

The newspaper cited an unnamed source for the report.

The bid would fall below Schulze’s August offer of up to $10.9 billion including debt.

Best Buy has not yet commented publicly on the report.

New York -- YCD Multimedia announced that watch retailer Tourneau, has selected YCD's C-nario Messenger digital signage platform as the engine behind a unique video display in its new concept store in South Coast Plaza, Costa Mesa, Calif. The integrator was Media Services Worldwide, a U.S. provider of design, integration and installation services.


Woonsocket, R.I. -- CVS Caremark executives expressed optimism going into 2013 and outlined its strategic growth framework during its annual Analyst Day held on Thursday in New York City.

Shoppers in many markets have to drive past one of Dollar General’s more than 10,000 stores before they get to their local Walmart, a situation that will intensify in 2013.

Dollar General is opening stores so fast its store count sometimes changes multiple times throughout the day. It surpassed 10,000 units earlier this year and by the end of the company third quarter on November 2, it had opened 479 out of 625 stores planned for 2012. Next year, 635 new units are planned and by the end of next year the company’s store count will be in the vicinity of 11,000 stores.

Corte Madera, Calif. -- Restoration Hardware Holdings Inc. reported Wednesday net income for the third quarter of $1.7 million, compared with a loss of $4.8 million in the year-ago period.

Revenue rose 22% to $284.2 million and same-store sales surged 29%.

The home furnishings retailer went public in November.

CHICAGO, Ill. — Brand development and deployment services provider Schawk has appointed Michael Larkin as its new VP of business development.

In his new role, Larkin will be responsible for driving business development activities at consumer packaged goods companies across North America, helping those companies drive top line growth and improve efficiency at the brand level. He will focus on developing relationships with new accounts.

New York -- Brixmor Property Group said that Sleepy’s will open a 10,000-sq.-ft. store at Carolina Pavilion in Charlotte, N.C., and a 6,150-sq.-ft. store at Franklin Square in Gastonia, N.C.

Brixmor, based in New York City, owns both of the shopping centers.