Mergers & Acquisitions

Hampstead, Md. -- JoS. A. Bank Clothiers announced the opening of its 600th store, in the Shops at Midtown Miami on North Miami Avenue in Miami. The company said it expects to open another 200 stores in the future as part of its long-term plan to grow the chain to approximately 800 stores, including 700 full-line stores and 100 factory stores in the United States.

Oak Brook, Ill. -- Inland Private Capital Corp. announced three employee promotions and the hiring of one new employee to the company’s senior management team. 

Effective Nov. 13, the company has promoted Keith Lampi to the position of COO and Rahul Sehgal to chief investment officer. Additionally, Joe Binder has been promoted to senior VP acquisitions; Dione McConnell has been appointed VP operations.

The Woodlands, Texas -- Conn's returned to a profit in its third quarter as the chain booked fewer charges and sales of furniture and mattresses improved. The company raised its fiscal 2013 forecast.

Conn’s, which also sells home appliances, consumer electronics and other items, posted a better-than-expected net income of $11.8 million for the three months ended Oct. 31, compared with a net loss of $12.7 million in the year-ago period. 

Revenue increased 11% to $206.4 million from $186.6 million. Same-store sales rose 12.6%.

The U.S. Consumer Product Safety Commission name Stephanie Tsacoumis as its new general counsel effective December 10.

Tsacoumis joins CPSC after serving as vp and general counsel at Georgetown University in Washington, D.C., from 2009 through 2012, where she was responsible for all legal affairs and compliance matters at the university, including health and safety regulations, litigation, federal contracts and grants, and intellectual property.

Los Angeles -- CBRE Group said it has appointed Blake R. Hastings as managing director of its Minneapolis office, effective January 1, 2013.

Hastings succeeds Whit Peyton, who will be stepping down after more than two decades of service.

In his new position, Hastings will be responsible for overseeing all CBRE’s operations in Minnesota.

Huntington Beach, Calif. -- DJM Capital Partners announced that it has acquired about 11 acres from Crescent Heights for the retail and hotel portion of a planned mixed-use development Pacific City.

The company said it plans to develop on the original footprint and with almost 6.5 acres for 191,000 sq. ft. of open-air retail, restaurants and entertainment and four acres for an eight-story hotel. 

NEW YORK — Iconix Brand Group has acquired the Umbro brand from Nike for $225 million in cash.

The purchase price was funded with Iconix’s recently completed $600 million securitized financing facility, which gives the company flexibility to pursue other deals. Iconix chairman and CEO Neil Cole alluded to that possibility in commenting on the Umbro acquisition.

It’s been awhile since Sears and the phrase "same store sales increase" were used in the same sentence, but that changed Thursday morning when the recently spun off hometown and outlet division product a 3.1% third quarter increase.

Sears Hometown and Outlet Stores said sales for its third quarter ended October 27, increased 3.3% to $557 million, driven almost entirely by the 3.1% comp increase and to a lesser extent by a net increase of nine stores that grew the total store count to 1,111 units. Profits increased 29% $8.8 million or 29 cents a share.