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Mergers & Acquisitions

  • Fast-growing Five Below secures second DC

    Specialty retailer Five Below doubled in size the past three years and now the company has secured a new distribution center to help it replicate that accomplishment going forward.

    The new 600,000-sq.-ft. facility in the northern Mississippi community of Olive Branch will become operational in 2013 and will complement the company’s existing distribution facility in Newark, De. Five Below is focused on teen and pre-teen customers and derives its name from a merchandise mix price at $5 or less.

  • Retired Williams-Sonoma exec joins Best Buy

    Minneapolis -- Best Buy today announced that retired director, EVP, chief operating and CFO of Williams-Sonoma, Inc., Sharon McCollam, will join the company as its new chief administrative and CFO, effective Dec. 10, according to a Reuters report. McCollam, 50, left Williams-Sonoma earlier this year after serving as an executive officer for more than 12 years.

    McCollam succeeds CFO James Muehlbauer, whose departure was announced last month. Muehlbauer will leave the company at the end of this fiscal year, allowing for a smooth transition.

  • Corner Bakery Café expanding in the Northeast

    Dallas -- Corner Bakery Café has signed a franchise agreement to open its first restaurants in New York’s Nassau County beginning in 2013. Earlier this year, Corner Bakery Cafe announced similar expansion plans in the Northeast, including Northern New Jersey, Connecticut and Rhode Island.
     
    Four M Bakery, LLC, a group of veteran restaurant operators, which also owns 12 Buffalo Wild Wings through Four M Capital, LLC, has plans to open seven Corner Bakery Cafes in Nassau County.
     

  • Harbinger to fabricate and install LED pylon signs for 600 7-Eleven stores

    Jacksonville, Fla. -- Harbinger, a national sign fabrication company, has won a contract to fabricate and install double-faced LED-illuminated pylon signs for more than 600 7-Eleven locations in the United States. Harbinger will convert exterior signage to the 7-Eleven brand for the company’s newly acquired stores.

  • Stein Mart to restate prior period financial results

    Jacksonville, Fla. -- Stein Mart Inc. announced Friday that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

  • Stein Mart will reinstate financial results back to 2009

    Jacksonville, Fla. -- Stein Mart Inc. announced Friday that it will restate its financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods due to merchandising accounting errors.

  • Whole Food Q4 profit jumps nearly 50%

    Austin, Texas -- Whole Foods Market Inc. said Wednesday that its fiscal fourth-quarter profit increased nearly 50% on strong sales. The grocer’s company's net income rose to $112.7 million for the period ended Sept. 30, up from $75.5 million a year ago.

    Revenue rose nearly 24% to $2.91 billion, with an extra week in the most recent quarter. Same-store sales were up nearly 9%.

  • CVS/pharmacy expands role of two field executives

    Woonsocket, R.I. — CVS/pharmacy on Thursday expanded the role of two retail field executives as senior VP operations Dennis Palmer, a 37-year retail veteran, announced his retirement.

    Effective Nov. 5, Hanley Wheeler, SVP operations has assumed responsibility of CVS/pharmacy’s Western and Southwestern markets while continuing to have responsibility for the company’s retail operations in its Midwest and Southeast markets.

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