Mergers & Acquisitions

Evansville, Ind. -- Value-priced footwear retailer Shoe Carnival will grand-open 12 stores in 11 different cities in July, bringing its store count to 367 stores in 32 states and Puerto Rico.

“We are excited to be growing rapidly across the country,” said Todd Beurman, senior VP marketing. New stores will open in: Cedar Rapids, Iowa; Charlotte, N.C.; Chicago; Lansing, Mich.; St. Louis; Greenville, N.C.; Cincinnati; Atlanta; Phoenix; Louisville, Ky.; and Grand Rapids, Mich.
 

Virginia Beach, Va. -- Destination Maternity Corp. has leased 5,033 sq. ft. for a new flagship store in The Town Center of Virginia Beach, according to Divaris Real Estate.

Motherhood Maternity will close all of its locations in Southside Hampton Roads and move into the new Destination Maternity in September. The new store will carry all of the retailers concepts including Motherhood Maternity and A Pea in the Pod.

Cincinnati -- Phillips Edison-ARC Shopping Center REIT Inc. has acquired Boronda Plaza in Salinas, Calif. Food 4 Less, a subsidiary of Kroger, anchors the 93,071-sq.-ft. shopping center, which is 98% occupied.

When combined with the Food 4 Less lease, 68% of the rents for the center derive from national tenants. More information at Phillipsedison-arc.com.
 

New York -- Bloomberg reported that Best Buy Co. has increased the size of its first bond offering since 2011 from $350 million to $500 million as it prepares to repay an equal amount of notes due July 15.

According to the report, who cited an unidentified source, the five-year securities may yield 5%; proceeds may be used to refinance debt, fund working capital or repurchase stock.

Michael Francis left his role as Target’s chief marketing officer for presumably greener pastures at J.C. Penney. That gig proved short-lived, but Francis landed on his feet this past February as chief global brand officer at Dreamworks and he shared his thoughts on the studio, consumer products and retail in the June issue of License! Global. Click here.

SOLON, Ohio — Efficient Collaborative Retail Marketing announced that BV Investment Partners has become its majority shareholder, and Greg Farrar has been named ECRM's CEO as a result.

New York -- Foot Locker said that it has completed its previously announced acquisition of Runners Point Group, the specialty athletic store and online retailer based in Recklinghausen, Germany. The results of the two companies will be combined with an effective date of July 7, 2013.

Runners Point Group operates more than 200 athletic retail stores, principally in Germany under the Runners Point and Sidestep banners, as well as an online business. It had sales in 2012 of $254 million.

HOFFMAN ESTATES, Ill. — Sears was arguably synonymous with its “Big Book” catalog, but as the world became more technologically advanced and look books went digital, the retailer bade its catalog and catalog stores farewell and shifted to a new retail model of locally owned and operated dealer stores.