FINANCE

Report: Office Depot in talks to sell off rest of Mexican unit

BY Katherine Boccaccio

New York — A Friday report by Bloomberg said that Office Depot is considering selling the remaining 50% of its Mexican unit to Grupo Gigante SAB, which currently owns the other half.

Citing unnamed sources, Bloomberg reported that Grupo Gigante is in talks with local banks to fund the acquisition of Office Depot de Mexico.

Office Depot has been pressured by its biggest shareholder Starboard Value to fully spin off the Mexican unit. Starboard has been pressuring the office supply retailer to shore up earnings by cutting expenses and square footage.

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REAL ESTATE

Saks to close Stamford, Conn., store

BY Katherine Boccaccio

New York — Saks Inc. announced Friday that it plans to close its Saks Fifth Avenue store located in Stamford Town Center in Stamford, Conn., in early 2014.

The shuttering is part of the department store chain’s continued right-sizing strategy. “We routinely evaluate the productivity, profitability, and potential of each of our store locations,” said Steve Sadove, CEO. “This planned closing is consistent with our strategy of utilizing our resources in our most productive Saks Fifth Avenue stores.”

The company has operated its Saks Fifth Avenue store in Stamford since 1983.

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M.Mangino says:
Feb-18-2013 05:27 pm

Not surprised,
This Saks location was not up to par. The store is in poor condition and the merchandise was not very designer. The staff was always consistently rude. Along with these issues the store is a second anchor to a macys and located in a mall with a 50 percent occupancy rate.

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News

Menchie’s launches mobile app

BY Katherine Boccaccio

Encino, Calif. — Yogurt chain Menchie’s said Friday it has launched a new mobile app, Yumm Finder, for iPhones, featuring location finder capabilities and featured promotions.

Menchie’s partnered with RAZUR, based in Atlanta, to develop and release the app.

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mike101 says:
Feb-19-2013 09:49 am

innovative
Wow. We welcome this app with our hearts. I hope this app is so much popular and useful for users. Because I am also an iPhone App Developer in iPad App Development company. We also work very hard on new apps.

L.Valentin says:
Feb-18-2013 04:48 pm

Nice
Nice app for iphones and ipads. I just downloaded it and it works just fine. I love your blog and i shared it on my page Jocuri de gatit

L.Valentin says:
Feb-18-2013 04:48 pm

Nice app for iphones and ipads. I just downloaded it and it works just fine. I love your blog and i shared it on my page Jocuri de gatit

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