Frederick’s of Hollywood plans to go private
Hollywood, Calif. — Frederick’s of Hollywood Group Inc. has entered into a definitive merger agreement that provides for the acquisition of the company by a consortium consisting of HGI Funding LLC, a wholly-owned subsidiary of Harbinger Group Inc., and certain of the company’s other common and preferred shareholders. The members of the consortium as a group beneficially own approximately 88.6% of the company’s common stock.
The acquisition will be accomplished through FOHG Holdings, LLC, an entity controlled by the consortium that was formed for the purpose of the transaction. Under the merger agreement, the company’s shareholders who are not members of the consortium will receive $0.27 per share in cash upon completion of the transaction.
In addition, in connection with the execution of the merger agreement, Frederick’s and Holdings entered into a new employment agreement with Thomas Lynch, CEO, which will take effect only upon the consummation of the merger. Under the new employment agreement, Lynch agreed to continue to serve as CEO for three years following the merger.
Report: Holiday shipping and mailing activity grows
Port Washington, N.Y. — In the week following Thanksgiving 2013 (Dec. 1 – Dec. 7, 2013), sales of mailing and shipping products were up 13% to $13.3 million, compared the previous year (Nov. 25 – Dec. 1, 2012). In addition, new analysis from The NPD Group indicates that within shipping and mailing categories, wrapping sales were up 52%, mailer sales rose 17% and packing tape sales grew 14%.
By channel, mailing and shipping product sales rose 14% in the brick-and-mortar channel compared to the same period a year earlier and 3% online.
“The abbreviated period between Thanksgiving and Christmas kicked the holiday mailing and shipping season into gear quickly,” said Lora Morsovillo, president of the office supplies division at The NPD Group. “The week after Thanksgiving was the largest online sales week for mailing and shipping products in 2012, but with just three weeks to get gifts in the mail following the 2013 Black Friday and Cyber Monday sales, in store purchases were an even more popular option than usual this year. Consumers didn’t have as much time to wait for their shipping materials to ship.”
Shopkick partners with Sports Authority
Englewood, Colo. — Shopkick has partnered with Sports Authority. All Shopkick users will earn "kicks" just for walking in, browsing special offers throughout the store, scanning products and making purchases at Sports Authority store locations.
“We are excited to partner with Shopkick nationwide,” said Mike E. Foss, CEO of Sports Authority. “Their innovative application engages our customers in a new and compelling way, offering added benefit to shop at Sports Authority.”