Dollar Tree buying Canada’s Dollar Giant Store
Chesapeake, Va. Dollar Tree is buying Canada’s Dollar Giant Store for about $52 million in cash.
The retailer said Monday that the deal includes 84 Dollar Giant Stores, including substantially all assets, inventory, leasehold rights and intellectual property.
“[This transaction] provides Dollar Tree with an outstanding platform for significant, profitable growth in the Canadian market,” president and CEO Bob Sasser said in a statement.
Dollar Giant, based in Vancouver, offers a variety of general merchandise, seasonal goods and everyday items priced at $1.25 Canadian dollars ($1.24) or less.
Syms loss widens in Q2 with impact of Filene’s acquisition
Secaucus, N.J. Syms Corp. reported late Thursday that it lost $10.9 million in the quarter ended Aug. 28, compared with a loss of $7.9 million in the year-ago period. The widened loss is mostly attributable to one-time charges related to Syms’ acquisition of Filene’s Basement in second quarter 2009, according to the company.
Revenues for the quarter surged 34% to $102.1 million, from $76.4 million in the prior-year quarter, reflecting the impact of Filene’s Basement.
Same-store sales increased 16% for the quarter.
Kindle arrives at Staples
FRAMINGHAM, Mass. Staples announced that the Kindle e-reader is available in all stores nationwide beginning Oct. 10.
“Kindle is just one example of a host of hot tech items customers can get at Staples this holiday season,” said Jevin Eagle, EVP merchandising and marketing at Staples. “From our hands-on displays to our knowledgeable associates, Staples makes buying technology easy any time of year.”
Staples now carries the following new Kindle devices:
* Kindle ($139.00) – Wi-Fi, 6″ diagonal * Kindle 3G ($189.00) – Free 3G + Wi-Fi, 6″ diagonal * Kindle DX ($379.00) – Free 3G, 9.7″ diagonal (available at Staples mid-November)