FINANCE

Tesco acquires 80% stake in video streaming business

BY CSA STAFF

New York City — Tesco announced that it has acquired a majority stake in video-on-demand pioneer Blinkbox. The acquisition positions Tesco for the next stage in the Internet-driven revolution in home entertainment, the retailer said.

Blinkbox is the United Kingdom’s leading movie streaming service, offering thousands of titles streamed on the Internet.

Tesco has bought an 80% stake in Blinkbox from Eden Ventures and Nordic Venture Partners.

Richard Brasher, Tesco UK CEO said, "Whether customers want to own the DVD, download a digital movie, stream a rental or all three, Tesco is committed to giving customers choice. We want to allow them to decide how they access entertainment content and on which devices, whether it’s on PC, TV or tablet. The acquisition of blinkbox, together with a range of other services currently in development, means we can link physical purchase of a product to the building of digital collections in a new and seamless way.

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FINANCE

Zale extends maturity of some debt

BY CSA STAFF

Dallas — Zale Corp. is extending the maturity of $120 million of its credit facility by more than two and a half years, the Associated Press reported.

The portion being extended includes a seasonal adjustment of $20 million. The debt was set to mature Aug. 11. Now, it matures on April 30, 2014.

Zale said Monday that commitments under the facility remain at $650 million, including a $108 million seasonal adjustment. All commitments mature on the new date in 2014.

Bank of America arranged the transaction and is serving as administrative agent. The bank is also part of the extension, raising its commitment by $20 million for a total of $145 million. General Electrical Capital Corp. is boosting its commitment by $40 million for a total of $165 million, and new participant Ally Bank is committing $60 million.

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HOT CONCEPTS

The North Face, Indianapolis

BY CSA STAFF

Reflecting the brand tagline, “Never Stop Exploring,” the new global prototype of The North Face is meant to inspire customers to get outside and experience the great outdoors. Designed by Gensler, the store has a sleek, streamlined modern look and is composed of natural elements and textures. Trail markers, built of wood, stone and metal, distinguish the retailer’s core categories: outdoor, action sports and performance.

Bold environmental graphics, large-scale photos and flat-panel videos screens add excitement and energy to the retail environment while also enabling customers to engage with The North Face-endorsed athletes and product experts and learn about worldwide expeditions.

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L.Jandayan says:
Mar-06-2013 10:45 am

This company is trying and
This company is trying and planning to test three free-standing big and tall stores under the Men’s Warehouse brand later years pass by. Being an entrepreneur needs retail concept. - Scott Sohr

L.Jandayan says:
Mar-06-2013 10:45 am

This company is trying and planning to test three free-standing big and tall stores under the Men’s Warehouse brand later years pass by. Being an entrepreneur needs retail concept. - Scott Sohr

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