Staples misses as Q1 income falls
Framingham, Mass. — Staples Inc. said its first-quarter net income fell 6% to $187.1 million, compared to $198.2 million a year ago, hurt by weakness abroad.
Total sales fell 1.1% to $6.1 billion. International sales, which account for roughly 20% of the company’s total revenue, dropped 8% to $1.2 billion. In the United States, Staples’ revenue was flat.
Talbots, Sycamore extend exclusivity agreement
Hingham, Mass. — The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm’s non-binding $214.6 million takeover offer to May 22.
Talbots had entered into an exclusivity agreement with Sycamore on May 5, which was due to expire on May 15.
Nash Finch to acquire No Frills Supermarkets
New York — Nash Finch has agreed to acquire the 18-store No Frills Supermarkets, which is based in Omaha, Neb.
The terms of the transaction, which is expected to be completed by the end of third quarter, were not immediately available.
In April, Nash Finch completed the acquisition of the 12-store Bag ’N Save supermarket chain.