Safeway completes Blackhawk spinoff
Pleasanton, Calif. – Safeway Inc. has completed the distribution to its stockholders of 37.8 million shares of Class B common stock of Blackhawk Networks Holdings Inc. owned by Safeway. After the completion of the distribution, Safeway no longer owns any shares of Class B common stock of Blackhawk.
The distribution by Safeway was made in the form of a pro rata common stock dividend, of its Class B common stock equity interest in Blackhawk to all Safeway stockholders of record on April 3. Safeway stockholders will receive cash in lieu of any fraction of a share of Blackhawk Class B common stock that they otherwise would have received. Starting on April 15, the when-issued market for Safeway common stock on the New York Stock Exchange will no longer be available.
Sears Outlet Store names new owners
Hoffman Estates, Ill. – Several Sears Outlet stores across the country have new owners. Locations in Oceanside, Ontario, and Corona, Calif., are now owned by Tony Lutfi. Lutfi and his team now own and operate 11 Sears Outlet stores, 17 Sears Home Appliance Showrooms and three Sears Appliance & Hardware Stores.
In addition, Sears Outlet stores Tempe and Gilbert, Ariz. have a new owner, Keith Edquist. Edquist also owns another Sears Outlet store and seven Sears Home Appliance Showrooms.
Sears appoints Staples exec as Home Services head
Hoffman Estates, Ill. — Sears Holdings has named Arun Arora pany as senior VP and president, Home Services. In his new role with the company, Arora will be accountable for all aspects of the company’s Home Services business, including in-home repair services, service contracts, carry-in repair, Sears home improvement services, parts direct, commercial sales (all Sears Holdings product categories) and Sears franchise businesses.
Arora most recently served as the senior VP and general manager for Staples global e-commerce. In this role he was responsible for managing Staples’ online business, as well as the company’s inside-sales business. Prior to Staples, he held the role of CFO, Americas & treasurer, for Groupon Inc. His 22-year career spans across roles of increasing levels of responsibility in finance and corporate development with Beam Global Wine & Spirits Inc.; 3M Company; Mentor Graphics Inc.; Verari Systems Inc.; Sun Microsystems Inc.; Credit Suisse First Boston; and Goldman, Sachs & Co.
"Our customers and members invite us every day into their homes and trust us; we don’t take that for granted," said Edward S. Lampert, Sears Holdings Chairman and CEO. "Arun’s passion for both analytics and understanding the customer’s needs, along with his deep experience in integrated retailing, will be an asset to the organization."