News

New York City -- A report by Reuters on Tuesday said that a group of landlords have filed objections in U.S. Bankruptcy Court in Manhattan, disputing the process by which Borders Group is attempting to auction itself out of bankruptcy.

According to the nearly 20 landlords that filed objections on Friday and Monday, the plan offers no information regarding which leases would be assumed by potential buyers of Borders’ assets.

MIAMI — Regional pharmacy chain Navarro Discount Pharmacy, which currently has 29 stores, has named finance executive Juan Ortiz the company's CFO, to the position of CEO.

Ortiz succeeds CEO Steve Kaczynski, whose expertise in retail merchandising and marketing over the last 18 months has been instrumental in setting a strategic direction for the company and expanding its footprint in South Florida and nationally.

New York City -- Dunkin’ Brands Group is seeking to raise as much as $460.6 million in its initial public offering, 15% more than the company planned in May, Bloomberg reported.

Dunkin’ Brands is offering 22.3 million shares for $16 to $18 each, the chain said in a filing with the U.S. Securities and Exchange Commission today. The company may sell an additional 3.33 million shares, given sufficient demand.

Greatwide Logistics named a new CEO, and YRC Worldwide named a new SVP on Monday.

Greatwide said John Tague would serve as CEO, replacing Leo Suggs who is retiring, but will continue to serve as chairman. Tague previously served as president of United Airlines and also held the position of COO and chief revenue office during his eight years with the airline.

Delinquency rates in Target’s credit card portfolio are now at their lowest level in three years as more people are paying their bills on time. It is an encouraging sign for the long-term health of the nation’s economy to know that people are increasingly using credit in a responsible manner, at least those who have a Target card anyway, and therefore more likely to honor their obligations.

Major retailers dialed back the number of ads inserts and the number of pages in June when compared to the prior year, according to Market Track. Click here to view promotional activity for the 16 of the nation’s leading retailers.

PHILADELPHIA — Giant-Carlisle plans to open its first store in Philadelphia next week, the grocery chain said.

Giant-Carlisle, officially known as Giant Food Stores and owned by Dutch supermarket operator Royal Ahold, announced that it would open the 74,000-sq.-ft. store on July 20. The company already operated stores in the Philadelphia suburbs, but the new store is the first within the city itself.

SUNBURY, Pa. — Weis Markets announced it has lowered the prices on 1,600 staple items and that it will freeze these new lower prices for ninety days through Oct. 8.  It is the company's seventh 90-day price freeze program over the past two and a half years.