Mergers & Acquisitions

Indianapolis - The Finish Line's first-quarter net income plunged 59% amid start-up costs related to its deal to open branded in-store shops in Macy’s. But the retailer still beat Wall Street expectations. In other news, the company announced a new role for retiring president and COO, Steve Schneider.

The Finish Line earned $5.1 million for the period ended June 1, down from $12.3 million a year ago. Revenue rose 10% to $351.1 million, also beating expectations. Same-store sales were up 2.4%. 

EAST RUTHERFORD, N.J. — Kid Brands' board is going to see some changes, following Hugh Rovit's announcement that he will not be seeking re-election as a director at the company's annual shareholders meeting.

Benicia, Calif. -- Cycle Gear Inc. opened its second Illinois store in Tinley Park, a suburb just south of Chicago.

The motorcycle apparel and accessories chain operates about 100 stores nationwide.

ENGLEWOOD, Colo. — Sports Authority has appointed Michael Foss as the company’s new CEO, following Darrell Webb’s announcement that he is retiring as CEO and chairman of the board. 

Philadelphia -- Madewell, a J. Crew concept, has signed its first lease in Center City Philadelphia, according to broker Fameco Real Estate. The 4,000 sq.-ft. store will be located near Rittenhouse Square. Neighboring retailers include Intermixx, Burberry, Athleta and Blue Mercury. Fameco and Open Realty Advisors both represented Madewell in the transaction.

Both brokers are also representing searching for a 2,500-sq.-ft. location for J. Crew Men on Walnut Street in Philadelphia.

SPARKS, Md. — McCormick & Company reported sales and profit results for the second quarter ended May 31, at which time the company completed its acquisition of Wuhan Asia Pacific Condiments, a leading bouillon manufacturer in central China.

Columbus, Ohio - The Affiliated Business Group (ABG), a division of DSW Inc., will exclusively supply the footwear departments of all U.S. Loehmann’s stores and the loehmanns.com e-commerce site. The initial rollout of the news arrangement is expected to commence in a few stores starting December, 013 with the balance of the chain and e-commerce launching in the first quarter of 2014. ABG will plan, procure, and deliver the entire women's and men's footwear inventory, while Loehmann’s will provide staffing for the shoe departments.

Randy Dewitt

CEO,

Front Burner Restaurants

HEADQUARTERS: Addison, Texas

TYPE OF BUSINESS: Casual-dining (Twin Peaks)

NUMBER OF UNITS: 36 Twin Peaks restaurants in 16 states