Mergers & Acquisitions

Virginia Beach, Va. -- Divaris Real Estate announced that Sam McCoy has been appointed VP of the company’s new regional office in Roanoke, Va.

McCoy is charged with strategic planning, acquisition, site development, sales and leasing of commercial properties throughout the Mid-Atlantic region with an emphasis on the southwest Virginia markets.

Previously, McCoy was director of real estate at Lowe’s Cos., responsible for the development of new Lowe’s Home Improvement store sites in the Mid-Atlantic region.

Suffern, N.Y. -- Ascena Retail Group reported Monday that adjusted net income for the quarter ended Jan. 26 dropped to $42.9 million, compared with $63.7 million in the year-ago period, due in large part to expenses associated with the company’s acquisition of Charming Shoppes.

Sales soared 44% to $1.2 billion from $862 million, driven by the added Lane Bryant and Catherine’s banners. Same-store sales dipped 1%.

PLANO, Texas — Dr Pepper Snapple Group has purchased a company that bottles its beverages for much of the West, the company said.

DALLAS — Tuesday Morning has named former Michaels Stores president and CEO, Michael Rouleau as its interim CEO.

In his role as interim CEO, Rouleau will manage the company's day-to-day operations through the retention of a new CEO. He will continue to serve on the company's board of directors, which he joined in November 2012.

New York -- A Friday report by Reuters revealed that J.C. Penney CEO Ron Johnson was well aware that the retailer’s deal with Martha Stewart would step on Macy’s toes, but testified in court that the company decided to move forward anyway.

Attorneys for Macy’s in New York state court on Friday presented Johnson with an email he sent to a Penney board member saying that Stewart would have to break her agreement with Macy’s if Johnson was going to “pull off” a deal with her.

San Francisco -- LandMark Retail Group said it has opened three CVS/pharmacy stores in San Francisco on behalf of the drugstore retailer.  

Over the past year, the firm has completed 13 CVS stores throughout California with plans to open four more this year.

The first CVS/pharmacy store is located at 351 California St., occupying a ground-level retail space in a San Francisco financial district office building. It features 9,009 sq. ft., and opened after five months of construction.
 

Dallas -- SRS Real Estate Partners announced that Sean Thomas has been named first VP of the company’s Phoenix office.

Thomas will focus on disposition and investment services in his new position.

Minneapolis -- Best Buy Co. said that its loss narrowed in the fourth quarter, helped by improved U.S. sales. In a separate release, the company said that the deadline passed without it having received an acquisition offer from its co-founder, Richard Schulze, who had been considering making a bid for the chain.

“The company received no such offer and will continue to focus on its transformation for the benefit of all of its stakeholders,” Best Buy said in a statement.