Finance & Capital Management

Cincinnati -- In its first acquisition in 10 years, Macy’s has signed an agreement to acquire luxury beauty products retailer Bluemercury for $210 million in cash. The privately held Bluemercury, based in Washington, D.C., currently operates about 60 specialty stores in 18 states, primarily in prime street-level locations and urban lifestyle centers. Most locations include in-house spas. The company also operates an online business.

Citing the cost and complexity associated the rollout of the Affordable Care Act, National Retail Federation affirmed its opposition to the health care law in a sharply worded letter to top elected officials.

Wage and hour issues are ever present in the retail industry. Retailers are under constant pressure to control expenses, the largest component of which is labor. In 2015, local, state and federal officials are poised to take actions that will likely increase the cost of labor for retailers. Retailers must remain alert for these coming changes and begin planning for their impact long before their effective dates.

Target’s goal of becoming a leading omnichannel retailer will be led by Tesco veteran Mike McNamara who joins the company as executive vice president and chief information officer.

Luxury beauty retailer Bluemercury was acquired by Macy’s and the retailer announced another round of extensive personnel changes, including a new head merchant, that are designed to bolster its omnichannel, international and alternative format growth prospects.

Macy’s said it signed an agreement to acquire the 60 store specialty retailer Bluemercury for $210 million and would continue to operate the company as a standalone business while infusing existing Macy’s stores with the specialty retailer’s high end brands.

Rent-A-Center's Acceptance Now program has been a big hit with consumers, but the kiosks weren't enough to lift the company in the fourth quarter.   The company reported a 28% increase in same store sales at the Acceptance Now kiosks, which allow customers to pick out items from certain retailers partnering with RAC. Rent-A-Center will buy the item and lease it to the customer with no credit check needed.   

Walgreens Boots Alliance has appointed Marco Pagni, formerly group legal counsel and chief administrative officer of Alliance Boots, as EVP and global chief legal and administrative officer, effective immediately.

Fort Worth, Texas – As the New York Stock Exchange delists trading of its shares, beleaguered consumer electronics retailer RadioShack Corp. reportedly has at least two suitors interested in buying some of its stores. According to Bloomberg, both Amazon.com Inc. and Sprint Corp. are in discussions with RadioShack about possibly acquiring some stores, with RadioShack shuttering whatever stores were left.