News

Elmsford, N.Y. -- Party City Holdings, parent company of Amscan Holdings, has filed an initial public offering of $350 million of common stock as it raises funds to pay down debt.

It intends to list under the symbol PRTY. Current stockholders are also likely to sell shares alongside Party City in the IPO.

Reflecting the brand tagline, “Never Stop Exploring,” the new global prototype of The North Face is meant to inspire customers to get outside and experience the great outdoors. Designed by Gensler, the store has a sleek, streamlined modern look and is composed of natural elements and textures. Trail markers, built of wood, stone and metal, distinguish the retailer’s core categories: outdoor, action sports and performance.

New York City -- Tesco announced that it has acquired a majority stake in video-on-demand pioneer Blinkbox. The acquisition positions Tesco for the next stage in the Internet-driven revolution in home entertainment, the retailer said.

Blinkbox is the United Kingdom’s leading movie streaming service, offering thousands of titles streamed on the Internet.

Tesco has bought an 80% stake in Blinkbox from Eden Ventures and Nordic Venture Partners.

Right about now Target might be wishing it hadn’t walked away from the lawn and garden business. That’s basically what the company did last year when it shuttered outdoor garden centers and eliminated live plants sales. Now, spring is under way nationwide and consumers looking to refresh their yards and outdoor living spaces are being forced to shop at competitors.

New York City -- Borders Group won approval of an amended executive bonus plan after a judge sought changes to resolve objections from an arm of the U.S. government that oversees bankruptcies, Bloomberg reported.

Judge Martin Glenn of U.S. Bankruptcy Court in Manhattan said the amended bonus packages, which tie the $6.6 million in payments closer to the financial performance of Borders, were needed so Borders could "maintain its experienced work force."

RadioShack reported a $28.9 million increase in kiosk sales driven in large part by the roll-out of the company’s mobile centers in Target stores. This boost helped drive RadioShack’s total sales to $1.06 billion from $1.04 billion.

At the end of its fiscal first quarter, RadioShack operated 887 Target Mobile centers inside Target stores compared with 104 at March 31, 2010. The company said it expects to expand Target Mobile to approximately 1,450 locations by the end of June 2011.

NEW YORK -- Three Stop & Shop stores in the Boston area will launch a software app from ModivMedia that allow customers with iPhones to scan grocery items and add them to an electronic shopping cart, The Boston Globe reported.

Indianapolis -- Indiana Attorney General Greg Zoeller says the state will get $858,000 from CVS Pharmacy to settle allegations that the company overcharged Medicaid programs, the Associated Press reported.

The amount represents Indiana's share of a $17.5 million settlement reached last week with 10 states and the federal government.