News

OAKBROOK, Ill. — TreeHouse Foods has entered into an agreement with TorQuest Partners and other shareholders to acquire Associated Brands GP Corporation, a leading private label manufacturer of powdered drinks, specialty teas and sweeteners. 

Total U.S. Shopper Traffic in Retail Stores and Malls for July 2013

Shopper activity increased last month, as ShopperTrak anticipated. Retail foot traffic increased 5.2% in July compared to June 2013. This is in line with recently reported positive month-over-month retail trends. However, foot traffic for July 2013 dropped compared to the same month in 2012 — with a decrease of 2.3%.

City of Commerce, Calif. -- 99 Cents Only Stores had a positive first quarter of fiscal 2014, swinging from a net loss to net income and also reporting gains in net and same-store sales. The retailer reported net income of $3.16 million, compared to a net loss of about $4.9 million a year earlier.

San Francisco -- Gap Inc. reported net sales of $3.87 billion for the second quarter of 2013, up 8% from $3.58 billion for the second quarter last year. Net sales for July of this year totaled $1.12 billion, close to 6% higher than $1.06 billion in July of the previous year.

Newell Rubbermaid has announced plans to sell its hardware business to Nova Capital, a firm that specializes in the acquisition of corporate and private equity portfolios, for $214 million.

Specifically, components of the sale include Newell's Amerock, Ashland, Drapery Hardware, Bulldog and Shur-Line brands. Sales for 2013 came in at $255 million so far, with gross proceeds resting at $214 million.

Global fragrance leader Elizabeth Arden cited curtailed orders at a mass market customer as a factor in its weaker-than-expected full year financial results, and the finger was quickly pointed at Walmart.

ISSAQUAH, Wash. — Costco Wholesale Corporation reported net sales of $7.87 billion for the month of July, the four weeks ended August 4, an increase of 7% from $7.36 billion during the similar period last year.

For the 48 weeks ended August 4, the company reported net sales of $94.91 billion, an increase of 8% from $87.7 billion during the similar period last year.

In one of the stranger situations in retail right now, J.C. Penney is defending itself against charges by activist investor Bill Ackman that it’s not moving fast enough to hire a full time CEO and remedy a situation that Ackman created when the guy he picked nearly destroyed the company.