Finance & Capital Management

Dallas -- Dallas Gold & Silver Exchange said Tuesday it has deployed a radio-frequency identification inventory management solution from Electronic Inventory Solutions in its showroom stores in Texas, California, and South Carolina, for the dual purposes of automating the inventory count process and adding additional physical security.

Last week Janney Montgomery Scott analyst David Strasser downgraded shares of Target to neutral from buy. He offered a litany of things that could go wrong with the Target story, which were subsequently refuted by someone named Will Ashworth on the website “Investopedia.”

Shoppers face a lot of economic headwinds this back-to-school season, but one forecaster has seasonal sales growing by 6.2% to $467 billion, the most since 2006.

That’s according to retail consultants Customer Growth Partners’ annual BTS forecast, which defies warnings of a double-dip recession and sees American households as being more resilient with their back-to-school spending during the July through September time frame.

LONDON  — Asda announced last week that Judith McKenna, the company's current finance director, is to take the reins as the retailer’s COO, effective September.

Judith, who joined Asda more than 15 years ago, has led Asda’s finance functions as CFO since 2001.

As COO she will take on leadership of all Asda’s retail operations, including its stores, distribution network and IT systems.

Ann Arbor, Mich. -- Borders Group announced Thursday that it has agreed to sell itself to Najafi Cos. for $215 million. The deal is subject to court approval.

Najafi Cos. is a Phoenix-based private investment company which owns the Book-of-the-Month Club.

The "stalking horse" bid will open an auction for the company and its assets, so a higher bid is possible, according to reports.

Houston -- Greensboro, N.C.-based Tanger Factory Outlet Centers and Indianapolis-based Simon Property Group announced Thursday that they have entered into a 50/50 joint venture agreement to develop a Tanger Outlet Center south of Houston, in Texas City.

Phase I is slated for 350,000 sq. ft. of brand name and designer outlet stores; the 55-acre site is expected to accommodate future expansion of about 120,000 sq. ft.

Tenant announcements and ground breaking ceremonies are slated for July; the center is scheduled to open in summer 2012.

Bentonville, Ark. -- Wal-Mart Stores announced Friday that its U.K.-based Asda unit has promoted Judity McKenna to the position of COO.

McKenna is currently Asda’s finance director.

Walmart could be put at a competitive disadvantage in Brazil if a bizarre merger between the company’s two larger rivals proceeds and secures regulatory approval.

The nation’s two largest retailers, Pao de Acucar and France-based Carrefour are attempting to merge their operations in a convoluted deal that has drawn the ire of fellow French retailer Casino, which owns a large stake in Pao de Acucar.