News

BOISE, Idaho — Albertsons Market is implementing the Recall InfoLink product recall management platform into its pharmacy operation to help it streamline the process of managing recalls, the grocer confirmed on Friday.

Recall InfoLink is a patented, Web-based product recall management system designed to improve recall efficiency by providing standardized messages, automated communications, inventory tracking and reports for compliance efforts.

The nation’s leading arts and crafts retailer is looking for a new top executive after John Menzer resigned to focus on recovery from a stroke.

After Menzer suffered a stroke in April, Michaels created an office of the CEO comprised of Lew Klessel, interim COO and a managing director of Bain Capital, and Chuck Sonsteby, Michael’s chief administrative officer and CFO. The pair will continue to lead the company until Menzer’s successor is hired.

New York -- Five Below successfully completed its initial public offering of 9.6 million shares this week in a move that could see the company eventually grow from its current 200 locations to 2,000.

The Philadelphia-based discount chain targets tweens and teens with a wide range of accessories and other goods, all priced at $5 or below. It is on track to add 50 stores this year, and plans to open 60 locations in 2012.

Williamsville, N.Y. -- Tops Friendly Markets announced that the company has entered into an agreement with GU Markets LLC, an affiliate of C&S Wholesale Grocers, Inc., to acquire 21 supermarkets located in upstate New York and Vermont.

This acquisition will bring the number of Tops stores to 153 and will expand Tops' footprint further into areas of northern and eastern New York State and neighboring northern Vermont. The planned acquisition of the 21 stores follows up on the 2010 acquisition of the Penn Traffic stores.

Indianapolis -- The Lids Sports Group retail division has reached an acquisition agreement with JAS Sports Inc., the Seattle-based retailer of officially licensed Washington collegiate and Seattle professional sports team merchandise. The purchase consists of nine brick-and-mortar stores operating under the Seattle Team Shop, The Dawg Den and Sodo Sports banners, as well as the mobile concession operations near Safeco Field and Century Link Field.

New York -- Facebook Inc.'s Mark Zuckerberg and senior managers will meet the top executives of Wal-Mart Stores to discuss ways of deepening relations between the two companies, Reuters reported.

The representatives of social networking site and the chain will meet in Bentonville, Ark., for two days beginning Friday, according to the report.
 

New York -- Kohl's Corp. and the state of Wisconsin announced an agreement that will keep the retailer’s headquarters in Menomonee Falls, which is located about 20 miles northwest of Milwaukee. Kohl’s will receive up to $62.5 million in tax credits from the state over 12 years. The final amount of the tax credits is dependent on the number of employees the chain adds at its facility and the amount of money Kohl’s invests in developing its campus.

ABILENE, Kan. — Alco this week began offering products for sale on its website. The company has launched an e-commerce site that will offer more than 10,000 items. Features of the site include "24/7" online shopping in a secure, searchable web environment, plus delivery to home or place of business.

SAN JOSE, Calif. — Revenue at eBay soared 23% to $3.4 billion during the company's second quarter, thanks to strong performances in its Marketplaces and PayPal businesses.

ENGLEWOOD, Colo. — Dollar General will now offer Westerm Union branded  general-purpose reloadable (GPR) prepaid cards at Dollar General’s more than 10,000 stores in 40 states.