FINANCE

Wayfair files for a $350 million IPO

BY Katherine Boccaccio

Boston — Wayfair filed its paperwork with the U.S. Securities and Exchange Commission on Friday to raise as much as $350 million on the public market.

The Boston-based online homegoods retailer posted a loss last year of $15.5 million, and the loss was $51.4 million in the last six months. Goldman Sachs, Bank of America Merrill Lynch, and Citigroup are leading up the underwriting for the IPO, along with Allen & Co., Pacific Crest Securities, Piper Jaffray, Wells Fargo Securities, Canaccord Genuity, Cowen and Co., and Raymond James.

Wayfair didn’t give guidance on share offering prices.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
FINANCE

Activist hedge fund gets anonymous PetSmart ‘internal change’ tip

BY Staff Writer

New York — Activist hedge fund Jana Partners revealed on Monday that it received an anonymous package detailing a PetSmart presentation around improving results over the next two quarters.

According to Jana in a filing with the Securities and Exchange Commission, a cover letter accompanied the presentation, saying that PetSmart had “missed internal projections.” Jana said it sent the documents back to the company, asking the board to “promptly release such materials after redacting any such competitively sensitive information.”

Jana, which has a 9.8% stake in PetSmart, has been calling on the company to conduct a financial review of its options and consider a sale after what it calls years of financial underperformance. Neither Jana nor PetSmart have commented publically on the tip.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...
MARKETING/SOCIAL MEDIA

Staples Back-to-School study: Canadians look for value

BY Staff Writer

Toronto — According to the Staples’ Annual Back-to-School study evaluating the back-to-school shopping habits of Canadian customers, value is the top priority; 81% of Canadians say they look for a retailer that offers good value.

Highlights from the annual survey include:

• 81% of back-to-school shoppers look for a retailer that offers good value;

• Nearly three quarters (74%) of Canadian back-to-school shoppers prepare their own lists;

• Almost as many (71%) make their own budget;

• While late August and early September are the busiest times for retailers, more than half of back-to-school shoppers (54%) consider shopping in July. And more than a third (36%) consider shopping in June;

• Half of back-to-school shoppers (49%) find the season stressful – parents (51%) more than students (46%); and

• Thirty-three percent of Canadians, more than 11 million, will shop for school supplies this year, the same as in 2013.

"The study reveals how important the back-to-school season is to Canadian families," says Steve Matyas, president of Staples Canada.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

Polls

Consumer confidence is high. Is that reflected in your stores’ revenues?

View Results

Loading ... Loading ...