Whole Foods takes Marcus Dairy site
Whole Foods Market Inc. plans to open a supermarket in Danbury, on the property of the former Marcus Dairy Bar diner just south of Danbury Fair Mall.
The Austin, Texas-based company confirmed its plans Feb. 9 in a conference call with investment analysts. The store would be the company”™s fifth in Fairfield County, along with supermarkets in Darien, Fairfield, Greenwich and Westport.
Along with Norwalk-based Stew Leonard”™s Markets Inc., which also has a Danbury location, Whole Foods is a fixture on Fortune magazine”™s annual list of the 100 best places to work.
The Westport store was recently overhauled, having previously been a location for Wild Oats, which Whole Foods acquired in 2007. Co-CEO John Mackey said Whole Foods plans to expand via both newly built stores and selective purchases in markets it wants to enter.
“We”™re tending to build a little bit smaller stores than we have in the past,” Mackey said. “I don”™t think there are any Wild Oats acquisitions out there that we”™re looking (at). Anyway, we don”™t want to do any acquisitions that require (Federal Trade Commission) review, so we may do small acquisitions (and not) look for any blockbusters.”
B.J.”™s eyes Brookfield
Even as it explores a potential sale of the company, B.J.”™s Wholesale Club Inc. reportedly submitted an application with Brookfield to build a store on Federal Road just north of Danbury.
According to the Danbury News Times, Boston-based Samuels and Associates submitted an application on behalf of B.J.”™s to Brookfield”™s wetlands commission to create a store on Federal Road adjacent to a Kohl”™s department store.
B.J.”™s has stores in Fairfield and Stratford, among a dozen in Connecticut. In early February, the Westborough, Mass.-based company announced it had hired JPMorgan & Co. to explore strategic alternatives, possibly to include a sale of the company.
Two Borders stores to close
Even as Norwalk-based GE Capital wrote up $505 million in debtor-in-possession financing for Borders Group Inc., the company is closing book stores in Danbury and Wilton as part of a Chapter 11 bankruptcy reorganization.
Borders is also closing stores in Milford, Southbury, Manchester and Simsbury by the end of April; stores in Stamford and Fairfield were spared.
PartnerRe
PartnerRe Ltd. plans to record losses between $80 million and $110 million to account for the recent cyclone and flooding in Australia.
The reinsurance carrier is based in Bermuda and has its main U.S. office in Greenwich. In the fourth quarter, PartnerRe had a $57 million profit as net premiums earned dropped 10 percent from a year ago to $1.2 billion.
“Despite a challenging quarter and year, both of which included a number of catastrophe and large loss events, our underlying portfolio continues to perform well,” said CEO Costas Miranthis, in a prepared statement.
Diageo uncorks deal for Turkish company
For $2.1 billion, Diageo plc is acquiring Mey Içki, the largest maker of spirits in Turkey selling Raki and vodka.
Diageo is based in London and has its North American headquarters in Norwalk.
For the first six months of its fiscal year ending next June, Diageo sales increased 3 percent to $8.5 billion, including a 7 percent increase in North America to $2.9 billion. In North America, the company increased its marketing spend 12 percent from a year earlier.
Harman grooves 3dB
Harman International Industries Inc. acquired 3dB Research Ltd., a British Columbia-based company that has developed “musIQ” software to better deduce notes and patterns sung or played by musicians to help them put together songs.
In addition to its mainstay home and car stereo businesses, Stamford-based Harman sells systems used by professional musicians and producers. Harman currently uses 3dB software in its DigiTech line of guitar pedals and processors.
A fool for WrestleMania
As it readies for its mainstay WrestleMania event in Atlanta April 3, World Wrestling Entertainment Inc. scheduled its next year”™s event for Miami on April Fool”™s Day.
WWE revenues totaled $123 million in the fourth quarter, up 4 percent from a year ago. The company”™s profits were $8.1 million, down from $11.2 million in the fourth quarter of 2009.
For the full year, WWE earned $53.5 million on revenue of $477.7 million, a slight increase from 2009.
Ross to leave Fairfield County Community Foundation
Susan Ross is stepping down at the end of this year as CEO of the Fairfield County Community Foundation, which hired the headhunter company Spencer Stuart to assist in finding her replacement.
Ross has led the Norwalk-based organization for 15 years, and is a past chairwoman of the Connecticut Community Foundation Network.
During her tenure, Fairfield County Community Foundation assets increased from $10 million to $140 million; during its history, the organization has made grants totaling more than $123 million.
