Finance & Capital Management

The TJX Companies is expanding into another country with its acquisition of Trade Secret’s 35 stores.

TJX announced it has completed its acquisition of Trade Secret, an off-price retailer that operates 35 stores in Australia, from Gazal Corporation Limited for $59 million. The acquisition of Trade Secret provides TJX an opportunistic entry into Australia, where TJX currently operates one of its 13 buying offices.

Montgomery, Ala. -- Jim Wilson & Associates announced the addition of Doug Jeffords, VP of construction, and Evan Conder, development director.

Fast-casual dining chain Johnny Rockets is expanding its range to include customers in the countries of Italy, Paraguay and Canada.

As part of its strategy to double its global footprint by 2017, Johnny Rockets has signed agreements for 49 new restaurant locations in those three new markets. Some locations will open as early as 2016.

Japanese tire manufacturer Bridgestone is accelerating its growth plans in the United States by acquiring the Pep Boys auto parts chain, just as Americans are keeping their cars longer.

The Pep Boys – Manny, Moe & Jack Co. has entered into a definitive merger agreement with Bridgestone under which BSRO will acquire Pep Boys in an all-cash transaction for $15 per share, or approximately $835 million in aggregate equity value.

With (believe it or not) the holiday season almost upon us, it is time once again to take part in the annual ritual of crystal ball gazing and seasonal sales forecasts.

New York -- Brixmor Property Group named Michael Hyun as its new chief investment officer and as a member of the Company's Management Committee, effective Dec. 14. Hyun will be responsible for the strategic and day-to-day oversight of business development, portfolio management and capital recycling for Brixmor.

One of the retail industry’s true innovators, Staples co-founder Tom Stemberg, passed away on Friday at the age of 66.


Stemberg, who died at home after a two-year battle with gastric cancer, was considered the father of the office superstore format. With the backing of Bain Capital and its co-founder, Mitt Romney, he co-founded Staples in 1986, and went on to lead the company through a period of rapid growth to dominate the office products industry.

Headquarters layoffs are spreading throughout the retail industry with J.C. Penney joining Walmart and Dollar General in making deep cuts to its non-store workforce.

The department store retailer on Thursday said it planned to cut 300 of its 3,400 home office positions to reduce expenses and achieve financial targets.

Amazon surpassed analysts’ expectations on Thursday, posting a 23% increase in revenue and its second consecutive quarterly profit. But according to a report by The Street, Amazon’s fast-growing cloud services business was the biggest story, bringing in $2.1 billion in revenue for the quarter. [The Street]

A veteran retailer has taken the reins at Vince, a leading-edge contemporary fashion label and retailer.

The company named Brendan L. Hoffman as CEO, effective immediately, replacing interim chief. He is the former chief executive and president of The Bon-Ton Stores Inc, a position he held from February 2012 to August 2014. Prior to that, Hoffman was CEO and president of Lord & Taylor.