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.
D&W to Switch Over to Spartan
Grand Rapids, Mich., Sixteen family-owned D&W Food Stores reportedly plan to switch over to corporate-owned Spartan Stores. Ten of those stores will reopen later this week, but four West Michigan D&W locations will permanently close. The move is part of a reorganization plan released in December by Spartan Stores when it announced it was buying D&W. The transfer of prescription drug records in the involved stores led to a controversy. Some D&W customers who are upset about the move believe they should have been notified and given the chance to transfer their records to a pharmacy of their choice.