Federated Seeks Increase in Common Shares
Cincinnati, The board of directors of Federated Department Stores, Inc. said it plans to split the company’s common stock on a two-for-one basis if shareholders approve an increase in the number of authorized shares of company common stock. The stock split would occur through a dividend entitling each shareholder of record to receive one additional share of common stock for every one share owned. The company will seek shareholder approval for an increase in the number of authorized shares of Federated common stock.
Papa John’s Offers Pizza 24/7 via On-Line Ordering
Louisville, Ky., Papa John’s is the first national pizza company to offer 24/7 on-line ordering. Customers logging on to its site can now plan ahead and order by specifying the date and time of delivery or carryout order, up to 21 days in advance. The company’s research and test results confirm that many customers like to order in the morning or shortly after arriving at work to take care of their meal planning for the day. Before launching this 24/7 platform, on-line ordering was only available during restaurant operating hours. In 2005, Papa John’s on-line orders grew by 50% from the year before. Papa John’s spent more than $1 million to convert its on-line ordering system to one that would accommodate orders 24/7.
Penn Traffic Converts Tops Market Store
Syracuse, N.Y., Penn Traffic said it purchased another Tops Market store and will convert the location to its new P&C Fresh Foods banner. A purchase price for the Norwich, N.Y., store was not announced. Penn Traffic also acquired a Tops store in Rome, N.Y., last month. Both stores are among the 51 Tops Markets locations that Ahold USA put up for sale last summer.