Mergers & Acquisitions

COLUMBUS, Ohio — The Limited has appointed former Brooks Brothers executive Diane Ellis as the company’s CEO, effective August 26.

Ellis was president and chief operating officer of Brooks Brothers for six years. She oversaw information technology, human resources, retail and outlet stores, planning and allocation, product development, sourcing, supply chain, e-commerce and finance.

Bentonville, Ark. – Wal-Mart is considering entering the bidding for Hong Kong-based grocery chain ParknShop, Reuters reports. Wal-Mart is currently exploring options to enter the initial bidding process for ParknShop, which closes Aug. 16.

ParknShop is owned by Hutchison Whampoa Ltd., which in turn is owned by Li Ka-shing, reputedly the wealthiest man in Asia. The chain may be valued as high as $4 billion.

Wal-Mart, which has not commented publicly, said last year it would open 100 new stores in China by 2015.

New York – Macy’s has reached an agreement with Lids Sports Group to offer licensed departments called Locker Room by Lids that will sell Lids merchandise both in Macy’s stores and on the retailer’s website. Lids Sports Group will operate the departments, which will be the exclusive source of Macy’s in-store team sportswear.

Webster, Texas -- Seattle-based Nordstrom will add a new Nordstrom Rack location in the Houston area, opening a 31,000-sq.-ft. store in spring 2015 at Baybrook Square in Webster, Texas.

The Baybrook Square Rack will be the fourth Houston-area off-price store for Nordstrom. In July the company announced plans to open a third Rack location at Willowbrook Mall in fall 2014.

The new Nordstrom Rack will move into a space currently occupied by DSW, which is relocating within the center. Baybrook Square is managed by Fidelis Realty Partners.

New York -- Morris-Floyd Capital Partners has acquired the 159,861-sq.-ft. Wolflin Village shopping center in Amarillo, Texas. Anchored by Talbot’s, Office Depot and Shepler’s Boots’n Jeans, the center ranks as Morris-Floyd’s ninth acquisition. CBRE represented the seller, Dunhill Partners, which acquired the property in 2009 from Weingarten Realty Investors www.weingarten.com.

The center is 97% leased

Woonsocket, R.I. — CVS Caremark is reportedly planning to re-enter the metro Toledo, Ohio, market by snapping up parcels of property, according to a local news report. The Blade is reporting that the pharmacy retailer bought land on Monroe Street near Douglas Road, where it plans to open its first drug store since exiting the market in 2001.

Citing Lucas County real estate records, the newspaper reports that the company bought eight parcels of property totaling 1.5 acres. The total price for the property was $2.2 million.

Minneapolis -- Target Corp. announced plans to acquire online beauty retailer DermStore for an undisclosed sum.

The move will allow Target to further tap into the online beauty market, as well as continue its trend toward acquiring specialty businesses to ramp up its presence in various niche markets. In March, Target announced its acquisition of Chefs Catalog and Cooking.com in two separate transactions to create a subsidiary.

NAPERVILLE, Ill. — OfficeMax has reported weak second-quarter retail sales as the merger with Office Depot, which reported weak second-quarter sales last week, moves forward.