TRIB rebates reach $2M

Article Abstract:

TRIB Group members received an increase of rebates of to close to $2 million in 1998 from $1.2 million in 1997. Checks, that total close to $2 million, were distributed to dealers during the organization's annual convention. The amount has shown a consistent increase along with a growing number of dealer members and the rise in vendors providing rebates as part of their TRIB merchandising plan. During the 1983 establishment of TRIB, which stands for The Rental Industry Buying Group, rebates totalled $150,000. In 1997, the TRIB Group's purchase from approved vendors totalled around $250 million.

Marketing procedures, Furniture Wholesale, Furniture Wholesalers

RTO giants to unite

Article Abstract:

Renters Choice, a rent-to-own (RTO) furniture company, has agreed to acquire troubled Wichita, KS-based RTO Thorn Americas for $900 million in cash. The transaction, which will be completed in the following months, will increase Renters Choice's store base by threefold to 2,070 from 687. Yearly revenue would increase to over $1.2 billion, including over $360 million in furniture and home accents. Renters Choice chairman and CEO Ernie Talley said that the acquisition is a special chance for the company to create value by getting and improving the operating performance of a large base of stores.

Comment:

Has agreed to acquire troubled Wichita, KS-based rent-to-own furniture Thorn Americas for $900 million in cash

Asset sales & divestitures, Acquisitions & mergers, Furniture & Furnishings Stores, Furniture and Home Furnishings Stores, Renters Choice Inc., Thorn Americas Inc.

New showroom power

Article Abstract:

Vornado Realty Trust, a real estate investment trust based in Saddle Brook, NJ, has entered an agreement to purchase the Market Square, a 1.05-million-sq-ft, multi-building, showroom and hotel complex, for $100 million in debt and securities. Earlier in 1998, the company, acquired Merchandise Mart in Chicago, IL, as well as other Kennedy family properties. The acquisition deal will include the Market Mart, Market Square Towers, Furniture Plaza, Holiday Inn-Market Square, Hamilton Market, the Sklar-Peppler showroom and a former Malden Mills warehouse.

Comment:

Agrees to purchase Market Square, a 1.05-mil-sq-ft, multi-building, showroom & hotel complex, for $100 mil in debt & securities

Facilities & equipment, Real Estate Invest Trusts, Real Estate Investment Trusts, Vornado Realty Trust