J.C. Penney Co. investors Glenview Capital Management LLC and Hayman Capital Management LP cut their stakes in the retailer by a combined 13.4 million shares as the stock plunged amid a share offering.
Starbucks Corp. said it would pay Mondelez International Inc. $2.79 billion to settle a dispute over distribution in the coffee-shop chain’s bagged-coffee unit, as grocery-store sales become a growing part of the business.
RadioShack Corp., the consumer- electronics seller that lost $139.4 million last year, plans to raise funds by the end of 2013 to persuade suppliers to support its turnaround effort, people familiar with the matter said.
Home Depot Inc., the world’s largest home improvement retailer, is accelerating the national rollout of its online handyman referral service Redbeacon to tap demand from homeowners who don’t want to do fix-it projects themselves.
Lowe’s Cos., the second-largest U.S. home-improvement retailer, posted second-quarter profit that topped analysts’ estimates and raised its forecast for the year as the housing recovery fuels spending on remodeling.