Runnings to open at former Kmart site
Farm and ranch retailer Runnings will open an 86,000-sq.-ft. store in a former Kmart site in Monticello, Minn., according to an article in the Monticello Times.
Runnings is a 31-store farm-and-ranch focused retailer based in Marshall, Minn. It operates in Minnesota, North and South Dakota and Montana with a merchandise mix including livestock equipment, hunting and fishing equipment, automotives, plumbing, pet supplies and paint, among other categories.
The proposed store project at 300 W. Seventh St. received the green light from the Monticello City Council in early August.
The article reports that building and site improvements are anticipated in September.
Mark Palamountain lands director post at Limoneira
California-based agribusiness Limoneira has appointed Mark Palamountain as director of business development and business integration.
Palamountain joined the company in 2011 as director of energy, waste and water projects, during which time he worked on Limoneira’s solar installation project. The newly created position will be served by his background in finance and business.
"We are thrilled to have Mark lead our business development efforts as we look for new opportunities to drive growth and deliver shareholder value," said Harold Edwards, CEO of Limoneira. "Mark has a proven track record of success and we are confident in his ability to identify, pursue and integrate new business units, revenue streams and growth opportunities into our business model."
Previously, Palamountain was the co-founder of a renewable energy startup called Perpetual Power, as well as a senior associate at Broadpoint Securities, Thomas Weisel Partners and JP Morgan Chase.
Tractor Supply plans 2-for-1 stock split
Brentwood, Tenn.-based Tractor Supply approved a 2-for-1 stock split, to be initiated Sept. 18.
It will be the company’s fourth 2-for-1 split since 2002.
"This action is the result of our strong operating results and stock price performance, and reflects the confidence that the board and management have in our long-term business strategy and our ability to continue returning value to our shareholders," said executive chairman Jim Wright.
The company said the move is intended to make the stock more affordable to investors, and increase liquidity and accessibility.
Shares of Tractor Supply (TSCO) were just under $120 yesterday. Adjusted for splits, the stock’s share price traded in the mid- to high-teens in 2002.