NEWS WATCH 1997-04-28

A&P, Montvale, N.J., said last week it has completed a $300 million offering allowing it to refinance bonds at a lower rate. The company said that by refinancing, it expects to save $1.5 million in annual interest costs if interest rates go up.

r stores in Quebec, and 50 Winks and Red Rooster outlets in Ontario and Alberta. Couche-Tard is the largest convenience store operator in Quebec with 330 stores and annual sales of about $401 million Canadian ($292 million U.S.). Provi-Soir is second with annual sales of about $300 million Canadian ($219 million U.S.). Provigo said it decided to sell its convenience store division to focus its efforts on its retail network of Provigo and Loeb supermarkets and Maxi discount stores.

J. SAINSBURY PLC, London, said last week that its new bank -- a joint venture with Bank of Scotland -- had exceeded expectations by signing up 100,000 customers since February.

WABAN, Natick, Mass., said last week it has filed proxy materials with the Securities and Exchange Commission to spin off its BJ's Wholesale Club stores.

DART GROUP, Landover, Md., has tentatively agreed to pay $42 million in cash to its founder, Herbert Haft, to settle a series of suits and countersuits within the Haft family that threatened to destroy the family fortune. Dart Group holdings include Shopper's Food Warehouse Corp., Lanham, Md.

WAL-MART STORES, Bentonville, Ark., confirmed it is in talks to acquire a direct equity stake in Cifra, a diversified retailer in Mexico.