News

By Dwayne Shackelford, [email protected]

Proposed new lease accounting rule changes will have a significant impact on many retail and restaurant companies. The good news is that rent will no longer appear on the income statement; the bad news is that it will be replaced by amortization and interest charges, which will generally be larger in the first years of a lease and lower in the latter years.

New York City -- Leonard Green & Partners is expected to make an opening-round offer on Wednesday for BJ’s Wholesale Club, the New York Post reported, citing unidentified people familiar with the matter.

Bidders picked for the second round will probably be asked to make binding offers by the end of May, the newspaper said.

Atlanta -- The charitable arm of The Home Depot pledged $30 million over three years to address veterans' housing issues. The pledge starts with the donation of $3.1 million to Fisher House Foundation, The Mission Continues and Volunteers of America to repair and rehabilitate facilities and homes serving veterans.

Home Depot employees also will volunteer to help on projects for all three organizations.

Washington, D.C. -- Retail sales increased 0.4% last month, the Commerce Department said Wednesday, buoyed by rising gasoline revenue. The gain in March, the ninth consecutive monthly increase, was the smallest since the string began last summer.

The increase shrank to a 0.1% when sales at gasoline stations were excluded. However, the biggest decline in auto sales in more than a year also pulled down overall sales. When taking out sales at gas station and of autos, retail sales rose 0.6%.

SEATTLE — Amazon announced that it is now offering a new Kindle for $114, compared with $139 for its standard model and $189 for the 3G version. The catch is that the $114 Kindle requires the user to view special offers and sponsored products on screensavers and on the bottom of the home screen.

AUSTIN, Texas -- Whole Foods Market announced that it is on track to stop selling all red-rated swordfish and tuna at its seafood counters nationwide by this Earth Day, April 22.

ENGLEWOOD CLIFFS, N.J. -- LG Electronics has announced the introduction of its first canister vacuums for the U.S. market.