Major Barnes & Noble shareholder reduces stake
New York City — According to a Wednesday filing with the SEC, major Barnes & Noble shareholder, Aletheia Research & Management, has cut its stake in the bookseller from 10.6% to 8.65%.
Aletheia was accused by Barnes & Noble of teaming with activist investor billionaire Ron Burkle during a proxy fight last year.
The reduction comes about two weeks after Liberty Media made a $1 billion offer for Barnes & Noble.
Even with the private equity firm’s reduction, Aletheia still has the third largest stake outside of Burkle’s The Yucaipa Cos., which holds a nearly 20% stake, and Chairman Leonard Riggio and his family, who hold nearly 30% of the shares.
Coinstar and Safeway to install coin-counting kiosks
Pleasanton, Calif. — Safeway and Coinstar announced Thursday an agreement to install approximately 1,400 Coinstar kiosks in Safeway’s stores in the United States and Canada by the end of 2011.
Coinstar kiosks are to be installed in Safeway stores and its banners including Vons, Dominick’s, Randalls, Tom Thumb, Genuardi’s, Pavilions, Carrs and Pak N’ Save. Installations are planned to begin this month, according to the companies.
"Coinstar brings a turnkey service and two decades of experience managing the operational intricacies associated with self-service coin kiosks," said Brian Dowling, VP public affairs, Safeway. "We are confident our customers will be pleased with the flexibility of being able to turn their coins into cash, store purchases, or, in the future, a gift card."
Village Super Market profit plummets in Q3 on charge
Springfield, N.J. — Village Super Market reported Thursday that net income for the third quarter dropped 68% to $1.7 million, primarily due to a $4.2 million charge for the withdrawal liability from a multi-employer pension plan.
Sales grew 5.2% to $316.2 million. Same-store sales increased 4.8%.