Dollar General Plans Ninth DC
Goodlettsville, Tenn., Dollar General plans to build a distribution center in Marion, Ind.—the ninth facility in the retailer’s distribution network. The 1.1 million-sq.-ft. facility will be located on a 188-acre site on State Route 18, near Interstate 69.
Sears Seeks Options for Hardware Unit
Hoffman Estates, Ill., Sears Holding Corp. today said it may sell or spin off its Orchard Supply Hardware unit, which operates a chain of 82 hardware and garden retail stores in California. Vice chairman and CEO Alan J. Lacy said that Sears Holdings was pursuing the option as it looks to focus attention on the core business created by the Sears-Kmart merger.
Citigroup Global Markets Inc. and Lehman Bros. are acting as financial advisers to Sears.
Great Atlantic May Sell Canadian Stores
Montvale, N.J., Great Atlantic & Pacific Tea Co., owner of A&P supermarkets, has hired JPMorgan Chase & Co. to find a buyer for its Canadian grocery-store business, according to reports. The sale of the 236 Dominion and Food Basics stores in Ontario could raise more than $1 billion, sources familiar with the sale said. Potential buyers include both Stellarton, Nova Scotia-based Sobey’s Inc. and Montreal-based Metro Inc., Canada’s second- and third-largest supermarket chains. Canada’s biggest supermarket chain, Toronto’s Loblaw Cos., may also be interested in the purchase, according to published reports.
Montvale, N.J.-based Great Atlantic posted a loss of $75.3 million for its fiscal third quarter, the sixth straight quarterly loss. The sale of its Canadian grocery-store business could raise money to help pay down debt and refurbish stores to bolster future earnings.