Sally Beauty Holdings in $700 million share repurchase program
Denton, Texas — Sally Beauty Holdings announced that its board has approved a new share repurchase program authorizing the company to repurchase up to $700 million of its common stock. The announcement is the first repurchase authorized by the company in 2013, but the third in the last 12 months.
In August 2012, Sally Beauty announced the approval of a share repurchase program to repurchase up to $300 million of its common stock and, in May 2012, the company repurchased approximately $200 million of its common stock. As of March 5, the company has repurchased $266.4 million of its common stock under its $300 million repurchase program announced in August 2012.
“Our strong cash flow allows us to continue the repurchases of our stock while continuing to invest in growth opportunities and other long-term initiatives,” said Gary Winterhalter, chairman, president and CEO. “We believe our recent stock repurchases have returned value to our shareholders and this new share repurchase program underscores our continued commitment to building shareholder value.”
Alliance Data renews credit-card program agreement with Gander Mountain
Dallas — Alliance Data Systems Corp., a leading provider of loyalty and marketing solutions derived from transaction-rich data, announced its Retail Services business has signed a long-term agreement to continue providing the co-brand credit card program for multichannel retailer Gander Mountain.
"The strategic program offering Alliance Data brings to the table — from their card program and loyalty capabilities, to advanced analytics and marketing expertise — continues to make them the right partner to help Gander Mountain meet our sales and growth goals," said Robert Specht, VP finance and controller for Gander Mountain. "The Gander Mountain customer enjoys a special relationship with our brand, both in-store and online, and our credit card program helps reinforce the strength of that relationship, driving long-term customer loyalty and sales."
Alliance Data will continue to deliver a marketing-driven co-branded credit card program that recognizes and rewards Gander Mountain cardholders with a tiered loyalty program offering free-merchandise rewards based on all dollars spent with Gander Mountain and Overton’s, gas and grocery purchases, and on all other transactions. The program also offers flexible financing options and other cardholder-exclusive perks designed to drive brand loyalty and repeat purchases. In addition, the Gander Mountain credit card design will soon be customizable, allowing individual cardholders to display their own favorite photographs on the card plastic.
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Weis Markets adjusted net income up 13.9% for fiscal 2012
SUNBURY, Pa. — Weis Markets on Tuesday reported net income of $82.5 million for the 52-week period ended Dec. 29. Even with one less week of sales, that’s up 9.2% versus fiscal 2011, which was a 53-week period, the grocer noted. Sales were down slightly by 1.9% to $2.7 billion compared with the week-longer year-ago period. Comparable sales were down 2%.
Adjusting for the 52-week to 53-week comparison, the grocer’s 2012 net income increased 13.9% while sales and comparable store sales were flat.
"We continue to operate in an economy significantly impacted by slow economic growth, high unemployment and declining household income," stated David Hepfinger, Weis president and CEO. "As a result of these continuing trends, our customers were cautious in their spending in 2012," he said. "We successfully worked through these challenges by efficiently managing and improving our stores and supply chain, which helped us drive strong net income increases and maintain our market share. Our results also benefited from record investments in our store base, which will continue in 2013."
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