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Retail

  • Safeway to take Blackhawk unit public

    Pleasanton, Calif. -- Safeway Inc. announced on Wednesday that it plans to take its Blackhawk Network Holdings Inc. gift card and payment services unit public. Blackhawk sells gift cards at supermarkets and through other stores, including drug stores and convenience stores.

    Safeway said it plans to file a registration statement for a potential initial public offering of a minority stake in Blackhawk and hopes to complete the IPO sometime in the first half of 2013, depending on market conditions.

  • Schuler Cabinetry celebrates Lowe’s deal

    Oak Brook, Ill.-based Schuler Cabinetry, a division of Elkay, said it has expanded its presence in Lowe’s stores in this its 10th year with the retailer.

    Earlier this year, Lowe’s completed an expansion of the brand into virtually all U.S. stores, with 900 additional stores being outfitted with Schuler selection centers and/or cabinet display vignettes.

  • Macy’s Herald Square renovation debuts Herald Square Café

    New York -- As part of its landmark, multi-year, $400 million dollar renovation of Macy’s Herald Square, the department store retailer debuts the Herald Square Café this week.

    Located on the second floor with the shoe department, the 1,434-sq.-ft., 45,-seat café will serve Starbucks coffees, chocolates and high-end champagnes.

  • GE Capital administrative agent on Golf Town/Golfsmith credit facility

    Norwalk, Conn. -- GE Capital said Friday that it is serving as administrative agent on a $150 million senior secured credit facility to support the combination of Golf Town and Golfsmith, owned by parent company Golfsmith International. 

    GE said the credit facility will be used to support working capital and to refinance existing debt.
     
    "GE Capital structured the financing that will enable us to make … our ongoing operations a success," said Sue Gove, president and COO of Golfsmith International. 

  • Collective Brands returns to profit in Q2

    TOPEKA, Kan. — Collective Brands reported net earnings of $9.7 million, or 16 cents per share, for its second quarter compared with a loss of $35 million, or 58 cents per share, in the second quarter of 2011.

    Net sales increased 0.4% to $886 million, driven by a 2.9% comparable-store sales ncrease and sales growth of 6.1% in the Performance + Lifestyle Group  Wholesale segment, offset in part by operating 375 fewer stores.

  • Nordstrom to open two full-line stores

    Seattle -- Nordstrom said Tuesday it will open two new full-line stores – one in Jacksonville, Fla., and the other in Woodlands, Texas.
     
    The Florida store will open at St. Johns Town Center, a Simon Property and Ben Carter-owned shopping center. The 124,000-sq.-ft. store will be two levels and is expected to open in fall 2014.

  • Wal-Mart’s new Oregon store to have state’s largest green roof

    Bentonville, Ark. -- Wal-Mart Stores said Friday that its new store in Portland, Ore., will feature the state’s largest green roof.

    According to a report by Oregon’s Daily Journal of Commerce, the 90,000-sq.-ft. store, which broke ground Friday in North Portland, will be topped by a 40,600-sq.-ft. green roof, surpassing by more than 10,000 sq. ft. the current largest green roof over the Ramona apartment complex in Portland.

  • Closeout veteran named CEO at Tuesday Morning

    Leading closeout retailer Tuesday Morning named Brady Churches as CEO three months after the departure of former CEO Kathleen Mason.

    According to the operator of 850 stores, the board was searching for what it called a "master merchandiser," and believed Churches’ track record of merchandising excellence, combined with his high-energy, entrepreneurial mindset would serve Tuesday Morning very well.

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