FINANCE

Sears Enters Confidentiality Pact with Restoration Hardware

BY CSA STAFF

Hoffman Estates, Ill. Sears Holdings Corp. has agreed to enter into a confidentiality agreement with Restoration Hardware Inc., the furnishings chain that Sears has offered to buy.

The Dec. 7 agreement, disclosed in a filing with the U.S. Securities and Exchange Commission Monday, allows for Sears to complete due diligence on a possible transaction with Restoration Hardware.

Restoration Hardware had previously said it would provide the information if Sears signed the same confidentiality and standstill agreement agreed to by other suitors.

Sears Holdings’ bid tops an accepted offer from Catterton Partners, a private-equity firm with a definitive agreement to buy Restoration Hardware for $6.70 per share. Restoration Hardware is reserving the right to review competing proposals through Thursday.

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New Apple store opens today

BY CSA STAFF

NEW YORK Apple today is opening its newest store in New York City’s trendy Meatpacking District.

The West 14th Street store opens its doors at 6:00 p.m. Eastern time and will become the largest Apple Store in Manhattan. For the first time, the three-story store will feature two floors dedicated to products and a third to services, the company reported.

The services floor will feature a 46-foot Genius Bar and specially designed areas for workshops and personal training on applications such as Final Cut Pro.

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Bed Bath and Beyond to open in Canada

BY CSA STAFF

RICHMOND HILL, ON Bed Bath and Beyond today announced that it will be opening its first store in Canada at the Glen Shopping Center in Richmond Hill, ON.

The 34,000 square-foot store will feature several of the retailer’s popular brands including SimpleHuman, Oxo, Breville and HoMedics, the company reported.

“We are excited to open our first store in Canada and to share our long standing traditions of exceptional customer service, great value and a broad assortment of merchandise with the GTA [Greater Toronto Area]. Our new location in the town of Richmond Hill, which is experiencing a time of extensive growth, is centrally located off major highways and offers easy access for customers,” stated Steven Temares, ceo of Bed Bath and Beyond.

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