NEW YORK– Macy’s, Inc. (NYSE:M) today announced the closing on approximately $4.5 billion of new financing, including its previously announced $1.3 billion of 8.375% senior secured notes, as well as a new $3.15 billion asset-based credit agreement. In addition, the company has amended and substantially reduced the credit commitments of its existing $1.5 billion unsecured […]
HOFFMAN ESTATES, Ill — Transformco, parent company of Sears and Kmart, announced that in response to the Coronavirus (COVID-19), it will temporarily close all Sears stores effective April 4 at end of day through at least April 30, 2020. Sears.com, distribution centers and customer care will remain open, fulfilling online orders and answering customer inquiries. […]
HOFFMAN ESTATES, Ill. — Transform Holdco (TFCO) announced today that Costco (NASDAQ: COST) has acquired Innovel Solutions, its middle mile and final mile delivery and installation business, for $1 billion. Key components of the agreement include a long-term commercial arrangement whereby Costco provides TFCO warehousing, delivery and installation services to Sears and Kmart members and […]
RALEIGH, N.C. & HOFFMAN ESTATES, Ill –Advance Auto Parts, Inc. (NYSE: AAP) has acquired the DieHard brand from Transform Holdco LLC (“Transformco”), for $200 million utilizing cash on hand. This asset acquisition will give Advance the right to sell DieHard batteries, the most trusted brand in the automotive battery category, and enables Advance to extend […]
SEATTLE – Amazon today announced the U.S. launch of Counter, a new network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store at a partner location. Starting today, customers will have access to more than a hundred Counter locations across the U.S., with thousands of additional locations coming […]
HOFFMAN ESTATES, Ill., April 4, 2019 — For more than 125 years, Sears has been part of the local fabric of American homes and lives. Today, as part of a new era, Sears announced plans to open three new Home & Life stores in May. Located in Anchorage, Alaska; Lafayette, Louisiana and Overland Park, Kansas, […]
SAN FRANCISCO – February 28, 2019 – Gap Inc. (NYSE: GPS) today announced plans to create two independent publicly traded companies: Old Navy, a category-leader in family apparel, and a yet-to-benamed company (“NewCo”), which will consist of the iconic Gap brand, Athleta, Banana Republic, Intermix and Hill City. Gap Inc. expects to effect the separation […]
Marks and Spencer Group Plc (“M&S”), the unique own brand retailer, today announces the creation of a new 50/50 Joint Venture (“JV”) with Ocado Group Plc (“Ocado”), the UK’s leading pure play digital grocer, that will transform online grocery shopping for UK consumers. Under the JV, M&S is acquiring a 50% share of Ocado’s UK […]
Delivering the deal negotiated with the EU remains the government’s top priority. This has not changed. However, the government must prepare for every eventuality, including a no deal scenario. For 2 years, the government has been implementing a significant programme of work to ensure that the UK is prepared to leave the EU on 29 […]
CINCINNATI — The Kroger Co. (NYSE: KR) Chairman and CEO Rodney McMullen provided his outlook on the future of retail at the NRF 2019: Retail’s Big Show in New York City during a dynamic keynote presentation themed Restocking the future: Kroger’s insatiable appetite to play and win the long game. CNBC “Squawk on the Street” […]
