Finance & Capital Management

New York -- The Federal Trade Commission on Friday determined that the merger between Men’s Wearhouse and Jos. A. Bank does not violate antitrust laws. The commission had been conducting a detailed review of the proposed $1.8 billion deal.

The Men’s Wearhouse expects to close on its acquisition for Jos. A. Bank in the next 30 days after Men's Wearhouse agreed to pay $65 a share for Jos. A. Bank earlier this year in a deal valued at $1.8 billion that will create a company with more than 1,700 stores and pro forma annual sales of $3.5 billion.

First-quarter sales at Guess fell in North America and Europe. Despite a net loss of $2.1 million, compared with net earnings of $9.9 million in the year-ago period, the company touted strong momentum in its e-commerce business, adding that it remains a key initiative as consumer demand continues shifting to that channel.

Washington, D.C. – U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.

New York – Fairway Market has begun working with Google Express to launch an online shopping platform with same-day delivery throughout Manhattan. The shopping interface allows consumers to shop approximately 12,000 Fairway SKUs seamlessly across multiple devices.

The integration of Google Express allows Fairway to leverage Google's technology and distribution network to increase delivery capacity and expand the Fairway footprint.

Fort Worth, Texas – Trademark Property Co. has named Steven W. Toppel to the post of executive VP. Toppel will begin his new role June 3.
 
With more than 28 years of experience in commercial real estate, Toppel will oversee leasing for Trademark’s portfolio of lifestyle centers, malls, and mixed-use developments.

Bronx, N.Y. — Triangle Equities has reached several milestones in the development of the $35 million, 88,000-sq.-ft. Triangle Plaza Hub at 149th Street in Bronx, New York. The development aims to help revitalize a generally underserved area with a mixed-use commercial and community facility located at a transit center that serves 200,000 people daily. Vista Optical has also leased space.

To date, Triangle’s accomplishments include signing two key anchor tenants: Fine Far supermarket and Metropolitan College of New York.

Same-store sales declined again last year at Fairway Market and the company reported a record loss, but a new same-day delivery initiative with Google Express in Manhattan offers potential for omnichannel growth.
 

Goodlettsville, Tenn. -- Keep it simple — that’s secret to Dollar General's success Rick Dreiling, chairman and CEO of the 75-year-old company said at its shareholders annual meeting.

"Simple neighborhood stores, simple, frequently-needed items and everyday low prices," he said. "For 75 years, [Dollar General has focused] on helping low- and middle-income families save money and save time by offering quality, basic merchandise at affordable prices in convenient, small-box neighborhood stores."