Children’s Place Former CEO Considering Bid for Company
New York City Ezra Dabah, the former CEO of Children’s Place Retail Stores Inc., said on Thursday he was confident he could make a bid to buy the company for $24 a share, sending its shares up 18% in pre-market trading.
Dabah said he had received interest from private equity firm Golden Gate Capital to be a participant in the deal.
Dabah resigned as CEO last September after an internal probe found he did not comply with the company’s securities-trading policies.
The SEC filing comes the same day that Children’s Place said its sales at stores open at least a year rose a better-than-expected 6% in January. Wall Street on average had been expecting a same-store sales gain of 2.5%, according to Reuters Estimates. Same-store sales rose 9% at the Children’s Place brand and 2% at the company’s Disney Store chain.
Style and function meet in ODP furniture
DELRAY BEACH, Fla. Office Depot has launched the Christopher Lowell Anywhere Solutions line as its latest offering in its exclusive assortment of Christopher Lowell Furniture.
According to Office Depot, the new line functionality with classic design. The collection includes four distinct pieces, including an armoire, sofa table, credenza and computer desk. The pieces range in price from $199.99 to $499.99 and are available online at www.officedepot.com/furniture. The items will be available in Office Depot stores later this month.
“More and more business professionals today are working out of their home, guest bedroom and even the living room,” said Richard Diamond, vp of merchandising-furniture for Office Depot. “The new Anywhere Solutions line really serves a growing need that requires furniture to be both functional and attractive, while also fitting in virtually anywhere that you want to work.”
Costco unable to reform wine laws
ISSAQUAH, Wash. Costco was dealt a setback in its effort to change laws regulating distribution of wine in its home state of Washington.
ANinth Circuit appellate court judge ruled that the laws regulating wine distribution – when taken as a whole – do not violate anti-trust laws as Costco’s 2004 lawsuit contends. Costco was seeking to reform several provisions in Washington’s distribution law, including one that doesn’t allow suppliers to sell directly to retailers and give them volume discounts. Costco – the country’s largest wine retailer with $805 million in sales in 2006 – has not indicated if it would pursue further action in the case.