Golfsmith to enter D.C. area
Vienna, Va. — Golfsmith announced it will open its first metro Washington, D.C., location in Tysons Corner, Va., this June. The new location is part of an aggressive growth strategy for the company.
Golfsmith’s stores offer an interactive experience, and customers are encouraged to test out clubs and gear inside the store before purchasing. They can also use one of the four custom-fitting studios to test drive new clubs. The company also offers free custom club fitting services.
"The Metro D.C. area is a hotbed for golfers and a key reason for our entry into this market," said Golfsmith president and CEO Marty Hanaka. “Our goal is to help golfers of all levels find the right solutions for their game so they play better.”
J.C. Penney completes new $1.25 billion credit facility
Plano, Texas — J. C. Penney Corp. has completed a new five-year $1.25 billion bank credit facility.
The new facility replaces a $750 million credit facility that was scheduled to mature in April 2012 and provides further strength to the company’s liquidity position. The facility may be used for general corporate purposes and will mature in April 2016.
Supervalu to offer Coinstar’s no-fee option in more stores
BELLEVUE, Wash. — Supervalu customers that cash in their coins at in-store Coinstar kiosks can do so for free when they select the Supervalu gift card option, Coinstar announced.
The no-fee option will be available in about 1,000 stores that operate under the Supervalu banner, including such chains as Acme, Albertsons, Jewel-Osco and more, by next month.
Supervalu and Coinstar began their collaboration on the gift card project last January in approximately 78 Albertsons stores located in Washington and Oregon.
"We are very pleased with the results of the pilot program with Coinstar and look forward to a program expansion starting in June," said Mark Schumacher, Supervalu’s director of financial services. "This agreement provides our customers the opportunity to receive the full value of their coins with no fees when they choose the gift card option."
Added Mike Skinner, president of Coinstar’s coin business, "We’re delighted to be moving forward on this exciting new project with Supervalu and look forward to maximizing the potential increase in both trips and shopping basket size at Supervalu stores. There’s approximately $10 billion in coins across the U.S. waiting to be converted, and this gives consumers a compelling option for turning those coins into something of great value."