Finance & Capital Management

MINNEAPOLIS - Supervalu announced that it has entered into a stock purchase agreement for the sale of Total Logistic Control (TLC), a wholly owned subsidiary that provides logistics and supply chain management solutions to manage distribution, warehousing and transportation operations for leading food, beverage and consumer packaged goods companies. Subject to closing conditions and regulatory approvals, the sale is expected to close on Dec. 31.

ANN ARBOR, Mich. - Borders Group reported that sales for the third quarter were $470.9 million, which is a decrease of 17.6% from the same period a year ago. On a comparable-store sales basis, sales declined 12.6%, driven primarily by the adult trade category, according to the company. Sales were also negatively impacted by Borders.com, which saw a third quarter decrease of 8.6% over the prior year to $12.5 million.

Chicago -- Jones Lang LaSalle, in a survey released Thursday, found that protecting and building the brand and driving responsible growth are the chief priorities of major retailers for 2011.

The survey, conducted by Jones Lang LaSalle at its recent Retail Executive Forum event, also revealed that the retail industry is placing increasing importance on the value of real estate as a key component of its business and brand strategies for next year.

Dallas -- Neiman Marcus Group reported Thursday that profit for the quarter ended Oct. 30 tripled to $25.7 million, compared with $8.5 million in the year-ago period. The retailer cited more full-price selling, higher customer traffic and lower costs for the strong performance.

The operator of its namesake and Bergdorf Goodman stores saw sales rise 6.7% to $927 million. Same-store sales increased 6.4% following a 14% plunge a year ago.

Hong Kong -- Li & Fung Ltd., the biggest supplier to Wal-Mart Stores said Friday that it may increase acquisitions in China as the country’s consumer spending grows, U.S. demand rebounds and inflation propels companies to seek partners.

Li & Fung president Bruce Rockowitz told Bloomberg that it may buy Chinese companies in the fashion, cosmetics and furniture industries in the next three years. He also said it will increase purchases in the United States, Europe and Japan.

Dallas -- SRS Real Estate Partners announced that it has hired two new brokers in its Houston office.

Jennifer Paulson and Carter Malone recently joined the company as associates. The new hires come on the heels of a strategic move to grow the company’s local presence in Houston.
 

Montvale, N.J. -- A report Friday said that Great Atlantic & Pacific Tea Co. may file for bankruptcy in the coming days to restructure debt.

Citing unnamed sources, Bloomberg reported that a filing to reorganize under court protection may come as soon as this weekend. A&P hired law firm Kirkland & Ellis LLP to represent it in negotiations with creditors and in any Chapter 11 proceeding, according to the report.

Yamaguchi City, Japan -- Fast Retailing Co. said Friday it aims to open at least 200 Uniqlo stores in the U.S. by 2020.

Asia’s largest clothing chain said it seeks to raise sales sixfold in a decade.

“The United States is one of the most important markets for us,” Shin Odake, CEO of Uniqlo’s U.S. unit, said in an interview with Bloomberg Television. “We want to become the number one retailer in the world.”