Finance & Capital Management

St. Louis -- Brown Shoe Co. said Thursday that it has acquired privately held athletic shoe maker American Sporting Goods Corp. for $145 million.

The acquisition broadens the reach of Brown Shoe, which makes Dr. Scholl's, LifeStride, Franco Sarto and other brands and operates Naturalizer and Famous Footwear stores. ASG's brands include Avia, Ryka women's fitness footwear and AND1 basketball shoes for men and boys.

The Associated Press is reporting that Target has revised its policy governing political donations following a flap last year that tarnished the company’s progressive image. Target drew the wrath of gay rights activists after it was revealed the company donated $150,000 to a business group that supported Minnesota’s conservative Republican gubernatorial candidate Tom Emmer who is an opponent of gay marriage and other gay rights initiatives.

New York City -- Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

The retail world takes center stage this week as financial markets are poised to dissect a slew of earnings reports from major retailers who will be sharing details on the profitability of holiday sales, perspective on the state of the economic recovery and the outlook for consumer spending during the remainder of 2011.

Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

Phoenix -- Private equity firm Apollo Management will acquire majority ownership in Phoenix-based Sprouts Farmers Market. Apollo plans to combine Sprouts operations with another of its holdings, Henry's Farmers Market, based in Irvine, Calif. The combined company will operate under the Sprouts Farmers Market name.

Terms of the deal, expected to close in the second quarter of this year, were not disclosed. The combined grocers will have 98 stores and generate annual sales that exceed $1 billion.

New York City -- Liz Claiborne narrowed its fourth-quarter loss as the company trimmed expenses. But it issued a lackluster outlook for its coming fiscal year.

The company said Thursday that it lost $30.1 million, compared with a loss of $41.7 million in the prior-year period.

Revenue dropped 7% to $703.7 million from $756.5 million, down mostly because of a transition in the licensing model under its J.C. Penney Co. and QVC deals.

Still, the results topped Wall Street's $684.6 million

New York City -- Target Corp. has updated its corporate donation policy following a corporate review that occurred in the wake of the backlash surrounding the company’s $150,000 donation last summer to a group that ran ads supporting Minnesota gubernatorial candidate Tom Emmer, according to the Minneapolis/St.Paul Buisness Journal. The donation resulted in much controversy for the chain due to Emmer’s anti same-sex marriage stand.