Irving, Texas

The Home Depot said Tuesday it agreed to acquire U.S. Home Systems Inc. for $94.9 million in an effort to expand its kitchen and bath resurfacing offerings. Atlanta-based Home Depot will pay $12.50 per share in cash for U.S. Home Systems, or about $94.9 million. U.S. Home Systems had about 7.6 million shares outstanding as of March 31. The offer is a 38 percent premium over its closing share price of $9.06 on Monday. The news sent the stock up $3.35, or 37 percent, to $12.41 in morning trading.

Michaels announced it's rolling out a mobile-optimized site app as well as mobile coupons with the objective of driving in-store traffic. The retailer has zeroed in on mobile initiatives as a way to reach time-pressed customers. The company is using QR codes and SMS to engage with its customers, and is now targeting smartphone users with mobile discounts.

Irving, Texas -- Michaels Stores has learned that PIN pad tampering may have occurred in its Chicago-area stores and that customer credit- and debit-card information may have been compromised. The company was contacted this week by banking and law enforcement authorities after some fraudulent debit-card transactions were reported over the weekend. Authorities believe the fraudulent transactions may be linked to legitimate transactions in Chicago-area Michaels stores.

Zale Corp. is exploring the sale of its Piercing Pagoda kiosk business to focus on its fine jewelry operations, according to three people familiar with the matter.

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