News

New York City -- BJ’s Wholesale Club reduced the size and increased the rate on $2.18 billion of loans backing its buyout by Leonard Green & Partners LLP and CVC Capital Partners, Bloomberg reported.

The retailer cut a first-lien piece by $50 million to $1.075 billion, the report said, citing a source who declined to be identified.
 

San Diego -- At its first Smarter Commerce Global Summit, IBM announced a range of wins with clients across global industries. By deploying solutions for Smarter Commerce, these clients are capitalizing on rapid shifts in customer demand, improving their performance and appeal to new digital age consumers, IBM said.

By Katrina Gosek, [email protected]

Chicago -- Retail sales will rise 3% percent during November and December compared to the year-ago period, but foot traffic will decrease 2.2%, according to ShopperTrak.

ShopperTrak's holiday sales increase prediction follows 19 consecutive months of year-over-year U.S. retail sales growth. The expected increase is moderate compared with the 2010 holiday season's 4.1% sales increase over 2009.

MINNEAPOLIS — Target announced that it will retain the naming rights for the Target Center, which is home to the Minnesota Timberwolves, through a three-year extended agreement with AEG Facilities, which manages the stadium, and the Timberwolves. Under the new agreement, Target will have naming rights for the stadium through 2014. 

MEMPHIS, Tenn. — Same-store sales growth and a number of new store opening helped Autozone deliver another impressive quarter, while helping the company maintain its position as a leading automotive parts retailer for both everyday consumers and professionals.

Autozone reported net sales of $2.6 billion for its fourth quarter ended Aug. 27, an increase of 8.1% from the fourth quarter of fiscal 2010. Domestic same-store sales increased 4.5% for the quarter.

BOCA RATON, Fla. — Office Depot is looking to gain a share of the popular e-reader market with the news that, beginning Sept. 25, it will offer the Amazon Kindle through its retail stores.

HOFFMAN ESTATES, Ill. and WAYNE, N.J. — While most consumers have barely started making Halloween plans, the retail industry is looking ahead to the holiday season and predicting what they think will be the most popular toys this year.

Toys“R”Us and Kmart both announced their top toy lists for the holiday season detailed below:

Toys"R"Us

1. Air Hogs Hyper Actives from Spin Master

2. Air Swimmers eXtreme from Animal Planet

WASHINGTON — The National Retail Federation has announced a major year-long campaign to help support the retail industry and the jobs it helps create. A centerpiece of the campaign – which will include lobbying, grassroots, advertising, social media, earned media and more – is www.RetailMeansJobs.com, an interactive web site and action center designed to encourage engagement on behalf of the retail community’s agenda.

BENTONVILLE, Ark. — Sam's Club announced the launch of Simply Right Baby Care, which will be part of its Simply Right health and wellness brand.

The Simply Right Baby Care line will include premium diapers, premium wipes and infant formula.