Finance & Capital Management

New York – Brooks Brothers Group Inc. has selected the Asset Based Lending (ABL) Group of TD Bank as the joint lead arranger in a $250 million credit facility. The amount of TD’s commitment and terms of the financing were not disclosed.

New York -- In a deal that will greatly expand its luxury reach, Coach Inc. will acquire upscale footwear brand Stuart Weitzman Holdings from private equity firm Sycamore Partners. Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

E-commerce sales at HHgregg surged during what was an otherwise unhappy holiday season that saw sales fall 6 percent and the company's share price tumble after it withdrew a 2015 profit forecast.

For the third quarter, the company estimated net sales of $666 million, a decrease of approximately 6% as compared to the prior year quarter. Same store sales for the third quarter decreased approximately 6%, with the appliance category relatively flat. However, the company estimated that its e-commerce sales were up approximately 59% for the third quarter.

Department stores could be in for a fresh approach from Coach, following its announcement that it will acquire upscale footwear brand Stuart Weitzman.

Coach will make initial cash payments of approximately $530 million to Sycamore Partners, and, in addition, will pay the firm up to another to $44 million in contingent payments upon hitting “selected revenue targets” over the next three years.

Online warehouse club operator Green Polka Dot Box has a quirky name, but shoppers don’t seem to mind as the natural foods retailer’s December sales increased 65 percent.

"Based on early sales results, we anticipate that customer growth in this first month of the year will increase from the current level of approximately 4,200 to more than 6,000," said Rod Smith, CEO of the company. "And that we will see corresponding increases in monthly sales in January.”

While retailers are sorting how to capitalize on wearable technology, Intel is betting that that smart glass manufacturer Vuzix will play a role.

Vuzix began selling its flagship M100 Smart Glasses on Amazon prior to the holiday and more recently Intel invested $24.8 million in the company. The investment gives Intel 48,626 shares of Vuzix’ preferred stock and the opportunity to convert those shares into common stock that would give Intel a 30 percent ownership stake in the company.

Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85.

According to the obituary, his wife, Arlene, said the cause of death was heart failure.

It didn't take long for former Walmart de Mexico executive Scot Rank to land a new job.

Mexican dairy company Grupo Lala has appointed Rank, the former chief executive officer of Walmart de Mexico, as its new chief executive to replace retiring top boss Arquimedes Celis, the company said.

Celis, who served as CEO for 14 years, will retire on June 30 but continue as a board member at the company, one of Latin America's largest dairy producers.

A 3.7% same store sales increase during the holidays has JCPenney feeling good about the continued growth of its business.

The retailer said same store sales during the nine week period from November through December increase 3.7%. That figure was on top of a 3.1% gain during the same period the prior year and was toward the high end of the company’s guidance range which envisioned comp growth of two percent to four percent.

Arlington, Va. -- The Retail Industry Leaders Association (RILA) announced that Jennifer Safavian has joined the association as executive VP for government affairs, effective Jan. 5. As RILA’s top lobbyist, Safavian will oversee RILA’s federal and state advocacy, guiding an agenda that includes cyber security, e-Fairness, tax reform and other critical issues facing the retail industry.