REAL ESTATE

DSW opens three new stores April 10

BY Dan Berthiaume

Columbus, Ohio – DSW Inc. is opening three new stores on April 10. The stores will be located in Tempe, Ariz., DeKalb, Ill., and Washington, D.C.

DSW Rewards is a free loyalty program in which customers earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in a Shoe Lover community on Facebook to receive exclusive offers and giveaways.

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MARKETING/SOCIAL MEDIA

Home Depot launches ‘Spring Black Friday’ sale

BY Dan Berthiaume

Atlanta – The Home Depot’s fifth annual Spring Black Friday starts April 3. For the next 11 days, prices on hundreds of spring products will be significantly reduced, including a variety of live goods, soils, mulches and lawn care supplies; outdoor power tools; gardening products; patios and grills.

"This spring and every season, The Home Depot aims to bring the latest tools to market to make the to-do list easier and simpler," said Dana Hudson, The Home Depot senior merchant.

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FINANCE

Liberty Media reduces Barnes & Noble stake

BY Dan Berthiaume

New York — Liberty Media Corp. has entered into agreements to reduce its stake in Barnes & Noble. Liberty Media informed Barnes & Noble that while Liberty has sold the majority of its shares to qualified institutional buyers, it will retain approximately 10% of its initial $204 million investment, which could be converted to a 17% ownership stake.

Liberty further informed Barnes & Noble that the sale is expected to settle on April 8. As a result of Liberty’s reduced ownership, they will no longer have the right to elect two preferred stock directors to Barnes & Noble’s board. In addition, Liberty’s consent rights and pre-emptive rights will cease to apply. Due to the loss of the right to elect two preferred stock directors, Greg Maffei president and CEO, Liberty Media, will cease to serve on the board as of the closing on April 8. Mark Carleton has been re-elected to the Barnes & Noble Board effective upon the closing on April 8.

“By reducing our preferred position and eliminating some of our related rights, Barnes & Noble will gain greater flexibility to accomplish their strategic objectives,” said Maffei.“We look forward to maintaining our relationship with the Company and are pleased that Mark Carleton will continue serving on the board. Mike Huseby and his team are doing a great job in the retail, college and Nook spaces,” Maffei added.

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