News

WESTBOROUGH, Mass. — At a special meeting held Friday, BJ's Wholesale Club stockholders approved the definitive agreement between the company and Leonard Green & Partners and CVC Capital Partners to be acquired in an all-cash transaction valued at about $2.8 billion.

BJ's anticipates the closing of the transaction, which was announced in late June, will occur around the end of the month.

New York City -- Kohl’s said it has notified the U.S. Securities and Exchange Commission that it is delaying filing its second quarter filing as its deals with previously reported errors in its accounting for both store and equipment leases. 

As a result of these and other less significant accounting corrections, Kohl's expects to record additional property and financing obligations on its balance sheet. The company said it doesn't expect the corrections to have an impact on the net increase or decrease in cash and cash equivalents reported.

SUNBURY, Pa. — Weis Markets earlier this week named Regina Tator as its director of private brands.

Tator succeeds Bruno Garisto, who was recently named VP center store sales and merchandising. Tator will oversee the product development and sales and marketing for the company’s 6,300 private-brand products, including center store, healthy and beauty care, and perishable private products.

Cincinnati -- The Kroger Co. reported Friday that net income in the second quarter rose 7.3% to $280.8 million. The company said earnings got a boost from tax adjustments and sales at its gas stations.

Sales increased 11.5% to $20.9 billion. Same-store sales were up 5.3%.

“Our ongoing investments in the four keys -- our people, products, prices and the shopping experience -- continued to enhance our connection with customers and drive positive identical sales growth,” said David B. Dillon, Kroger’s chairman and CEO.

QUINCY, Mass. — Stop & Shop has teamed up with Unilever to support hunger relief efforts of Feeding America and its local member food banks.

The companies said that they are donating $150,000 to the organization, which will provide more than 1 million meals to families in need.

MINNEAPOLIS — Best Buy has joined the likes of Amazon and eBay with the launch of its own third-party shopping destination. The move comes as Best Buy looks to grow its online business as it struggles to maintain leadership of a saturated consumer electronics market.

According to Best Buy, Best Buy Marketplace will increase the company's online product assortment by one third in time for holiday shopping.

By Jonathan Cobb, [email protected]

GARNER, N.C. — Butterball LLC, the nation’s largest turkey producer, has announced the appointment of Rod Brenneman as the company’s new CEO. After an extensive search, the company came back to its first and number one candidate, who has been filling the role as interim CEO and is already familiar with the organization.