Associated facilities include the cultivation and manufacturing building currently under construction in Pleasantville and the current dispensary located in Atlantic City, as well as two prospective satellite dispensaries expected to be leased or purchased and improved.
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Retail
Bed Bath completes $225M accelerated share repurchase program, extends second one
Approximately 11 million shares of Bed Bath & Beyond common stock were repurchased at an average price of approximately $20.77 under the agreement.
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Toys R Us comeback no longer as two US stores shutter
The Houston store in the Galleria Mall closed on Jan. 15. The Paramus store in the Garden State Plaza closed on Jan. 26.
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Children’s Place CFO to retire, Helm to become CFO in April
Robert Helm, senior vice president of finance and inventory management has been appointed chief financial officer; CFO Michael Scarpa will retire effective March 31.
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Fair distribution
Community solar programs in New Jersey allow both renters and homeowners to take part in supporting renewable energy without purchasing or installing solar panels on their property. Instead, subscribers can claim a portion of a large solar development near them. The customer receives community solar credits for the clean energy that is produced by their portion of the solar project and these credits reduce the customer’s monthly electricity bill. Then, the customer pays the community solar project for these credits but at a 10% discount, guaranteeing savings every month.
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Suite spot
The office market was hit hard by the COVID-19 pandemic as executive orders forced companies to shut physical facilities. Landlords also incurred extra costs in preparing to reopen, installing new systems or implementing new protocols to ensure the health and safety of employees and occupiers.
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Buy it here
On Jan. 26, President Joe Biden signed the “Buy American” order, aiming to close loopholes in the federal government’s requirement to buy anything it needs from American companies. The move, Biden argued, is meant to bolster the nation’s manufacturing industry at a time when the economy as a whole could use a boost.
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Cra-Z-Art acquires arts, crafts, stationery business from Mattel
The acquisition includes the RoseArt and Rose Moon brands and the rights to produce and sell all associated products including premium USA Gold and USA Titanium pencils, and Scribble Stuff that will anchor the new writing instrument division, Fun Dough and Fuzzy Posters.
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Wakefern to close 62 ShopRite pharmacies, including 23 in NJ
The highly competitive pharmacy industry made it difficult for the grocer to sustain sufficient sales. At closing, customer prescription files will automatically transfer to a nearby CVS pharmacy, and impacted customers will be notified.
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Private equity firm makes growth investment in Dr. Praeger’s Sensible Foods
The plant-based food company of Elmwood Park aims to launch further product innovations that will continue to deliver healthy, great tasting foods at an attractive price with Vestar's support.
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Bed Bath taps SVP and GM of Harmon Health and Beauty Stores
Mara Sirhal will be responsible for leading the operational aspects of the wholly-owned subsidiary of Bed Bath & Beyond, including retail, online and distribution, and driving strong growth with a focus on Omni-always shopping and greater convenience.
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Bed Bath completes sale of Cost Plus World Market
The Union-based firm's recent sale is its last in a process to streamline its portfolio and focus on core businesses.
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