FINANCE

Report: 7-Eleven offers to buy Casey’s for $2 billion

BY CSA STAFF

New York City 7-Eleven is the unnamed suitor that trumped Alimentation Couche-Tard’s bid for Casey’s General Stores, according to Bloomberg. The U.S. convenience store operator is offering $40 a share, or approximately $2 billion, to acquire Casey’s. The bid tops the $38.50 per share offered by Canadian convenience store giant Alimentation Couche-Tard, which has been trying to acquire Casey’s for the past five months.

The 7-Eleven offer is an all-cash deal and fully financed, the Bloomberg report said, which cited people close to the matter who declined to be identified because the talks are in progress.

Casey’s said on Tuesday it had received an unsolicited, nonbinding offer on Sept. 2 from an unnamed party and it was entering into talks. In a statement, Casey’s said while the offer isn’t sufficient to finalize a deal, it is willing to begin talks to explore a potential sale, it said in a statement.

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Kohl’s to sell merchandise to benefit fight against breast cancer

BY CSA STAFF

MENOMONEE FALLS, Wis. Kohl’s Department Stores announced that it will sell exclusive cause merchandise in all 39 Wisconsin Kohl’s stores and online at www.kohls.com, with 100% of the net profit donated to support the fight against breast cancer. The first collection — created by world-class designer Vera Wang for her Simply Vera Vera Wang exclusive brand at Kohl’s — will be available Sept. 7 through Dec. 24.

The 15-item exclusive collection of Simply Vera Vera Wang cause merchandise includes apparel, accessories, fashion jewelry and home goods and all items are available for just $5 or $10 each. The collection includes a pink ribbon pin; graphic t-shirts; women’s sleep sets with boy shorts; and sequin coin purses in various shades of pink and gray, to name a few.  In Wisconsin stores, the Simply Vera Vera Wang merchandise has been given its own center aisle display where all items will be merchandised together to make it easier for customers to support the cause.

“Our successful Kohl’s Cares cause merchandise program benefitting kids has raised more than $150 million over the past 10 years to support children’s health and education initiatives nationwide. As Kohl’s has recently expanded our philanthropic efforts to support the fight against breast cancer, we are very excited to expand our cause merchandise program with exciting new items that benefit that cause,” said Julie Gardner, Kohl’s EVP and chief marketing officer. “The new cause merchandise collection, designed by Vera Wang, represents so much more than beauty and value; it gives our customers an easy way to support a cause that means so much to all of us.”

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Publix names Atlanta Division VP

BY CSA STAFF

LAKELAND, Fla. Publix announced that it has promoted Joseph DiBenedetto to Atlanta Division VP effective Jan. 1, 2011.

DiBenedetto began his Publix career in 1975 as a front-service clerk in Cape Coral, Fla. He became a store manager in 1986 and district manager in 1992. He was also Publix’s first district manager in South Carolina. He has been a regional director in the Atlanta Division since June 1995.

“Developing our leaders for future opportunities is important to our long-term success,” said CEO Ed Crenshaw. “I am pleased we have leaders like Joe who are prepared to take on new roles.”

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