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  • Gap to franchise Old Navy overseas, grow smaller brands at home

    San Francisco -- In a presentation to shareholders at its annual investor meeting on Wednesday, Gap CEO Glenn Murphy outlined growth initiatives that include taking Old Navy international via a franchising route, and expanding on its online programs.

  • Fairway raises $177.5 million in IPO

    New York -- Fairway Group Holdings Corp., operator of the Fairway Market grocery chain, said Wednesday that it raised $177.5 million in its initial public offering after pricing the shares above the marketed range.

    Fairway sold 13.65 million shares for $13 each, according to data compiled by Bloomberg, after offering them for $10 to $12. At the offering price, the company has a market value of about $536 million.

    The shares, which represent a 33% stake, will be listed on the Nasdaq Stock Market under the symbol FWM.

  • Ikea plugs-in Maryland’s largest rooftop solar energy system

    Perryville, Md. -- Ikea said Tuesday it has plugged-in the solar energy system installed at its distribution center in Perryville, Md.
     
    The 768,972-sq.-ft. PV array consists of a 2,674.9-kW system, built with 18,576 panels, and is the state’s largest rooftop array.

    The Ikea distribution center will produce approximately 3,397,178 kWh of clean electricity annually, the equivalent of reducing 2,397 tons of carbon dioxide, eliminating the emissions of 499 cars or powering 359 homes yearly.  
     

  • Ikea’s U.S. solar presence brightens

    PERRYVILLE, Md. — Ikea has plugged-in the solar energy system installed at its distribution center in Perryville, Md. 

  • Jo-Ann brings a bit of OSU campus into stores

    HUDSON, Ohio — Jo-Ann Fabric and Craft Stores has added The Ohio State University to its assortment of exclusively licensed collegiate fabrics.

    “We are thrilled to offer fans of The Ohio State University this exclusive-to-Jo-Ann line of fleece and cotton fabrics,” said Susan Starcher, buyer of fleece, warm and licensed fabric for Jo-Ann. “Our customers love to show their school spirit, and no other retailer offers a more diverse selection of college and university fabrics than Jo-Ann.”

  • Bradley out at Handy Hardware

    Lynn Bradley, senior director, retail development, is out at Handy Hardware Wholesale, a cost-cutting move according to the Houston-based co-op.

    Handy Hardware Wholesale, which filed for bankruptcy protection in January, eliminated the position of “senior director, retail development,” as part of a cost-reduction plan, according to Morrie Aaron, president of MCA Financial Group. MCA is Handy’s financial advisory firm that specializes in restructuring.

  • Kroger oversees massive charitable initiative in Louisville

    CINCINNATI — Kroger on Thursday announced plans to bring together more than 4,800 associates at the Kentucky Exposition Center on April 16 to assemble an estimated 17,000 emergency food and personal care boxes for the metro community of Louisville, Ky.

  • Alco Stores moves HQ to Texas

    ABILENE, Kan. — Alco Stores announced that the company will move its corporate headquarters from Abilene, Kansas, to Coppell, Texas, a suburb of Dallas.

    In making the announcement, CEO Rich Wilson said, "Today's challenging business climate and highly competitive retail landscape require that we locate our headquarters in a metropolitan center. The Dallas location provides easy access to many of our stores, other major retailers and transportation for our employees and business partners."

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