Shopko opens five Shopko Hometown stores in November
GREEN BAY, Wis. — Shopko is opening five new small-format stores this month, the mass merchandise retailer said Monday.
The retailer opened the doors Monday to three Shopko Hometown stores in Ellsworth, Wis.; St. Peter, Minn.; and Winneconne, Wis. Two more openings are planned on Nov. 11 for Afton, Wyo., and Tomahawk, Wis. Shopko operates 330 stores in the Midwest, North Central, Mountain West and Pacific Northwest regions, including — with the five new locations — 180 Shopko Hometown stores.
"We’re excited to continue the growth of the Shopko Hometown concept with these new stores and expect them to be well-received by residents in each of these five great communities," Shopko interim CEO and COO Mike Bettiga said. "We understand that consumers in smaller towns want convenient access to the same variety of high-quality goods and on-trend merchandise without having to travel a good distance from their community. Our Hometown customers tell us they appreciate the vastly improved shopping experience and access to a broad, differentiated selection of merchandise, including products and brands previously not available to them locally."
Safeway completes sale of Canadian operations to Sobeys
PLEASANTON, Calif. — Safeway on Monday announced that it has completed the sale of the net assets of Canada Safeway to Sobeys, a wholly-owned subsidiary of Empire Co.
Proceeds from the transaction of $3.8 billion in cash after taxes and expenses and between $400 and $450 million in U.S. tax benefits related to the exit of the Chicago market will be used to pay down $2 billion of debt, with the majority of the remainder to be used to buy back stock. In addition, some of the proceeds may be used to invest in growth opportunities, Safeway reported.
"We are pleased to have completed the sale of our Canadian operations to Sobeys," stated Robert Edwards, Safeway president and CEO. "We believe this represents a significant contribution to shareholder value."
Kmart, Sears offer extended holiday shopping hours
HOFFMAN ESTATES, Ill. – Sears and Kmart stores will open on Thanksgiving Day and stay open all night for early holiday shopping, parent company Sears Holdings said Monday.
The company said Kmart stores will open at 6 a.m. on Thanksgiving and stay open until 11 p.m. on Black Friday, while Sears stores will open at 8 p.m. on Thanksgiving and stay open until 10 p.m. on Black Friday. Stores in Massachusetts, Rhode Island, Maine and Puerto Rico will not be open on Thanksgiving due to state laws.
Members of the Shop Your Way loyalty program will have access to seamless shopping at Sears.com and Kmart.com and through corresponding mobile apps.
"Sears and Kmart have been leaders in integrated retail, delivering convenient options to create a more rewarding shopping experience for our customers while blurring the boundaries between offline and online shopping," Sears Holdings SVP customer experience and integrated retail Leena Munjal said. "Our Shop Your Way members have the option to shop anytime, anywhere and anyway they want, especially during the busiest shopping weekend of the year."