News

Camp Hill, Pa. — Rite Aid is offering to buy back $810 million worth of debt while increasing the amount of a new bond sale announced Tuesday, the retail pharmacy chain said.

Rite Aid said it would buy back all of its $810 million worth of 9.5% senior notes due 2017. The company also said it would increase the $400 million offering of 6.75% senior notes due 2021 by another $410 million, for a total of $810 million, as part of a debt-refinancing plan.

H&M is finally tackling the online market, and plans to launch an e-commerce site in the U.S. in August.

The timing of the move for a brand synonymous with affordable fashion is opportune because it coincides with the heart of the back-to-school shopping season and sets the stage for the company to drive online sales during the holiday season.

Art suppliers and writing instrument supplier Faber-Castell USA named Delanie West as VP of the company’s Creativity Center.

CINCINNATI — Procter & Gamble is launching its latest ad campaign in the Big Apple. Called the Everyday Effect, the campaign is the largest consumer event in the company's 175 year history and will involve P&G representatives showing New Yorkers why they should consume P&G products.

The company will demonstrate how its brands make “everyday life better” and broadcast results of these demos through on-the-ground reports, social media updates and content featured across the company’s website and social media pages. 

Washington, D.C. – The Retail Industry Leaders Association elected Ron Boire, president of Sears and Kmart, to its board of directors, during its semi-annual meeting in Washington, D.C. 

The board also re-elected Home Depot chair and CEO Francis Blake, 7-Eleven president and CEO Joseph DePinto, Petco CEO James Myers and J.C. Penney CEO Myron Ullman.

Greg Bailey was named director of business process and implementation at Enhanced Retail Solutions, a software and consulting firm focused on point of sale analytics and demand planning solutions for suppliers and retailers.

Denver -- Multichannel specialty apparel Pampered Passions Fine Lingerie is turning to Facebook to find its next new models. Pampered Passions is launching a contest where women can post photos of themselves on its Facebook page. Every month, the customer with the photo receiving the most likes will receive a dedicated page with their pictures on the Pampered Passions e-commerce site and also get a one-year free membership in the retailer’s “Lingerie of the Month” club.

Gerald Evans was named chief operating officer at HanesBrands after serving as co-COO since 2011.