FINANCE

Bi-Lo Holdings to continue Harveys banner, retire Sweetbay and Reid’s

BY Katherine Boccaccio

Jacksonville, Fla. — Bi-Lo and Winn-Dixie parent Bi-Lo Holdings said it would begin in 2014 the process of converting all Sweetbay stores to the Winn-Dixie name and Reid’s stores to Bi-Lo, but that the Harveys banner would remain intact.

The grocery retailer acquired all three banners from Brussels, Belgium-based Delhaize Group last May.

"Sweetbay, Harveys and Reid’s have outstanding reputations, and their talented teams of associates have played a key role in making these stores an important part of the communities they serve," said Randall Onstead, president and CEO of Bi-Lo Holdings. "We are pleased to soon welcome the outstanding associates of all three chains to the Bi-Lo Holdings family."

Pending regulatory review, Bi-Lo Holdings intends to retain all store-level associates within the stores being acquired and operated.

The majority of Harveys stores will remain branded as they are today, though a few Harveys stores may convert to the Winn-Dixie or Bi-Lo banner or vice versa.

The transitioning of Sweetbay and Reid’s stores to Winn-Dixie and Bi-Lo banners is to reduce overlapping footprints, said the company.

The transaction is anticipated to close in first quarter 2014.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Report: Tower Three divests remaining stake in Restoration Hardware

BY Katherine Boccaccio

New York — A report by Wall Street Journal revealed that private equity investor Tower Three Partners will sell its final 3.9 million shares in Restoration Hardware Holdings, marking an exit for the buyout firms that acquired the home furnishings retailer in 2008.

Restoration Hardware’s private-equity backers have been cashing out amid a 90% rally in the stock this year, according to the report.

Last week, Catterton Partners sold 4 million shares of Restoration Hardware, according to a filing, and hedge fund firm Glenhill Capital, another large holder, sold an additional 1 million shares about the same time. Both offerings represented the remaining stakes in the retailer held by those firms.

Catterton, Tower Three and Restoration Hardware’s chief executive led a group taking the company public for about $177 million. Since returning to public ownership in a November initial public offering, the company’s stock-market value has increased to about $2.6 billion, according to FactSet data.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

The Container Store teams with BorderFree to take e-commerce global

BY Katherine Boccaccio

New York — E-commerce solution-provider Borderfree said it has partnered with The Container Store to expand the chain’s international e-commerce reach in time for the holidays.

Previously only accessible to consumers in the U.S., and Canada, The Container Store’s online product offerings are now available to consumers in Australia, India, Mexico, Germany, France, Japan, Switzerland, Russia, and the U.K.

“Having the ability to provide our thousands of time- and space-saving solutions to customers around the world has been a dream of ours for many years,” said Melissa Collins, VP creative and online, The Container Store. “Our biggest priority is to provide customers with an excellent experience whether they are shopping in our stores or online. Working with Borderfree allows us to provide the seamless experience our domestic customers expect to new markets around the world.”

In addition to localizing retailers’ websites for international markets, the Borderfree platform addresses a myriad of related challenges including customs compliance, fraud and risk management, international payments, parcel fulfillment and returns, among others.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...