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.

BENTON HARBOR, Mich. -- Whirlpool announced that it has launched a virtual showroom to showcase its latest products. The showroom, which can be accessed at https://vts.inxpo.com/Launch/Event.htm?ShowKey=3631, is modeled after the company's flagship brand and product experience center in Chicago's Reid Murdoch Center. 

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.

Target stores weren’t open on Easter Sunday, which helps explain why the company distributed one of its smallest circulars of the year with messaging focused on an overall low-price image rather than featuring hundreds of items.

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.

NEW YORK -- BoNa Coffee Holdings has announced the appointment of Rich Cabael as president and CEO of the company.

Before starting VuQo, Cabael held various executive level positions with startup, mid-sized, and Fortune 500 companies, including VP sales for another liquor brand. During his career of almost 16 years, Cabael was responsible for bringing brand recognition and creating major distribution channels that resulted in staggering revenue growth.

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."

FORT WORTH, Texas  -- A decline in T-Mobile postpaid wireless sales, television converter boxes, digital televisions and digital music players contributed to a first-quarter comps drop of 0.6% at RadioShack. However, strong sales in its kiosk division helped drive RadioShack's total first-quarter sales up 2.1% to $1.06 billion, compared with $1.04 billion for the 2010 first quarter.