Tractor Supply Co. joins Nasdaq-100
Brentwood, Tenn. – Tractor Supply Company has been added to the Nasdaq -100 Index, effective with the market open on Monday, Dec. 23, 2013. Shares of TSCO will also be included in the Nasdaq-100 Index Tracking Stock (Nasdaq: QQQ).
"We are proud to be joining this elite group of public companies traded on the Nasdaq exchange," said Anthony Crudele, executive VP and CFO. "Being added to the Nasdaq-100 Index is a reflection of Tractor Supply Company’s significant growth and its stock performance.”
Jones Group goes private
The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.
“This business, which I founded nearly 45 years ago, has expanded into a global portfolio of powerful brands,” stated Sidney Kimmel, Jones’s chairman. “I am proud of our heritage and believe the Jones Group’s brands will thrive through our partnership with Sycamore.”
The acquisition, which is structured as a one-step merger with The Jones Group as the surviving corporation, is subject to customary closing conditions, including receipt of shareholder and regulatory approvals. The transaction is currently expected to close in the second quarter of 2014. At least three shareholder rights law firms have already said they are investigating the buyout.
Software vet Mauerer in cloud collaboration
Retail Cloud Technologies is the name of a new retail software solutions company created by Dallas entrepreneur Chad Willis and software developer Michael Mauerer.
The pair launched Retail Cloud Technologies to produce totally mobile and cloud-based software solutions for retailers based on technology acquired from Teamwork Retail, LLC. Based on the terms of the acquisition, the software itself will retain the Teamwork Retail name. Mauerer will serve as CEO and oversee all day-to-day operations. He will co-manage the company along with Willis to ensure Teamwork Retail, a product of Retail Cloud Technologies, becomes the premier cloud and mobile retail solution in the market, according to the company.
Already deployed internationally in more than five countries, the Teamwork Retail software embraces the omni-channel concept which merges the physical stores, with the web into one holistic customer experience, according to the company. The software is said to be more than just point-of-sale because it enables retailers to control inventory, merchandising, replenishment, purchasing, receiving, distribution, customer management, order entry, stored value services and payment processing and all in real-time.