FINANCE

Barnes & Noble completes acquisition of college bookstore company

BY CSA STAFF

New York City Barnes & Noble Wednesday completed the previously announced acquisition of privately held Barnes & Noble College Booksellers, a leading contract operator of college bookstores in the United States. College Booksellers has now become a wholly owned subsidiary of BKS.

As part of the transaction, BKS also acquired the Barnes & Noble trade name that had been owned by College and licensed to BKS. As previously announced, concurrent with the signing of the agreement to acquire College, BKS entered into a new $1 billion, four-year revolving credit facility. The new facility has replaced each of BKS’ and College’s existing credit facilities.

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Walmart brings back $10 toys

BY CSA STAFF

BENTONVILLE, Ark. Walmart announced that it is bringing back its $10 toys section in all stores and expanding its $10 holiday assortment this year to more than 100 toys.

According to the company, the $10 toys assortment is the first of several programs Walmart will announce this holiday season to bring 12 weeks of added savings in a year that has been increasingly tough on consumer wallets.

 

“With the popularity of our ’10 for $10′ toy program last October, we knew it was important for customers that we bring it back and offer an even greater amount of $10 toys this year,” said Laura Phillips, chief toy officer and VP toys for Walmart. “We began working months ago to ensure we could also introduce many toys at just $10 for this holiday program, as well as roll back prices at a time when our customers were ready to make purchases.”

 

Toys in the $10 assortment include Transformers Action Figures, board games and Play-Doh.

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ECRM names new VP general merchandise

BY CSA STAFF

CLEVELAND, Ohio ECRM has named Cheryl Gherlone VP general merchandise. Gherlone joined the ECRM team in June of 2009, assisting with various sales related responsibilities and researching potential new events. In her new position, Gherlone will work jointly with Paul Wendling of ECRM. This organizational change will become effective on Oct. 1.

Prior to joining ECRM, Gherlone held the position of marketing manager for Longs Drug Stores, with responsibility for general merchandise including stationery, electronics, housewares, hardware, automotive, soft goods as well as liquor & beverages.

 

“With such a solid background, Cheryl will be an exceptional complement to ECRM and the GM category. We look forward to her expertise to lead the advancement of this important category. Her leadership will strengthen our ability to improve existing GM shows and expand show offerings in 2010,” said Charlie Bowlus, CEO of ECRM.

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