Finance & Capital Management

Cincinnati -- Macy announced the completion of its previously announced acquisition of beauty products and spa services retailer Bluemercury, for $210 million in cash.

Before Barnes & Noble Inc. spins off its Education division later this year, it is expanding the business by investing in a website where students buy and sell their notes from class. (Correction: An earlier version of this story stated that Barnes & Noble was buying Flashnotes.com.)

Barnes & Noble and Flashnotes.com will also enter into a strategic alliance agreement that will enable Barnes & Noble Colege to promote Flashnotes at partner schools and on digital platforms.

PetSmart’s investors have officially approved a buyout of the company by a private equity firm, setting up a payout to stockholders of $83 per share.

In December, PetSmart announced it accepted a bid on the company for $8.7 billion. The company expects the transaction to close on March 11. The buyout means PetSmart will become a private company.

New York – Through its Barnes & Noble Education subsidiary, Barnes & Noble Inc. is expanding its college bookstore business before spinning it off later this year. Barnes & Noble Education is investing, through its college business, Barnes & Noble College, in Flashnotes Inc., an online marketplace for college students to sell and buy study materials.

Both companies will also enter into a strategic alliance agreement that will enable Barnes & Noble College to promote Flashnotes.com at partner schools and on digital platforms.

Fort Worth, Texas – Video game retailer GameStop Corp. has reportedly bid on the leases of 163 stores that bankrupt consumer electronic chain RadioShack Corp. is abandoning as of March 1. According to Reuters, GameStop’s total bid equaled about $2.44 million, or $15,000 per lease.

Who needs Family Dollar? After a failed bid to acquire its smaller rival, Dollar General is on the move and extending its presence to three new states.

Los Angeles – A little more than a month after filing for Chapter 11 bankruptcy protection, specialty women’s apparel retailer Cache is throwing in the towel. Advisory and valuation services provider Great American Group (GA), which won a bid for Cache’s assets at a March 3 bankruptcy auction, has begun "going-out-of-business" sales for all Cache's retail locations in the U.S., the Virgin Islands, and Puerto Rico.  

Beachwood, Ohio -- DDR has named a new financial chief, and the shopping center company reached from within its own ranks for the appointment. Luke J. Petherbridge, age 35, assumes the role of CFO effective immediately.
 
"Luke is an accomplished executive with a proven track record within our company, overseeing the balance sheet, fostering strong banking and capital partner relationships, and sourcing large scale transactions during his tenure with us," said David Oakes, president and CEO.