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Mergers & Acquisitions

  • Walmart to open three to five more India stores by year-end

    Bangladesh, India -- A Tuesday report by Reuters said that the Indian joint venture of Wal-Mart Stores and Bharti Enterprises has announced plans to open three to five cash-and-carry/wholesale stores in India by the end of the year.

    The partnership currently operates 17 wholesale stores in India. 

    Foreign ownership regulations in India do not allow global hypermarket and supermarket chains to open retail stores in the country, but they are allowed to operate wholesale operations.

  • Report: Michael Francis going to Gap

    New York -- Michael Francis, who was ousted as president of J.C. Penney Co. in June, is going to Gap Inc., according to Ad Age.

    Francis will serve as a marketing creative advisor for Gap, and join the chain in the advisory role on Sept. 16, the report said.

  • Orchard Supply swings to loss in Q2; on track with opening/remodeling program

    San Jose, Calif. -- Orchard Supply Hardware Stores Corp. reported Tuesday a loss of $26.7 million for the quarter ended July 28, compared with net income of $3.9 million in the year-ago period. The results include write-offs and charges related to real estate sale-leaseback transactions.

    Sales dipped to $194.1 million from $196.4 million, and same-store sales edged up 0.9%.

  • Five Below reports loss on one-time costs; revenue surges 40%

    Philadelphia -- Tween discounter Five Below Inc. reported Tuesday a loss in the second quarter of $64.2 million due to one-time costs that were attributed mainly to dividend payments made to preferred shareholders, among others. That compares with a loss of $1.7 million in the year-ago period. However, adjusted profit of $1.2 million beat expectations and the company’s third-quarter and full-year estimates are in line with Wall Street’s forecast.

  • Casey’s picks up 22 Kum & Go stores

    Des Moines, Iowa -- Kum & Go and Casey’s General Stores announced that they have signed an agreement for Casey’s to acquire 22 convenience stores from Kum & Go.

    The stores are located in Iowa, Missouri and North Dakota.

  • Papa Murphy's to open 100 Middle East locations

    Vancouver, Wash. -- The international arm of Take-and-bake pizza operator Papa Murphy’s announced Monday it has signed a master franchise agreement with MAM Foodco to open 100 locations throughout the Gulf Cooperation Council.

    The first location, which marks the chain’s debut outside North America, is slated to open in Dubai, UAE, before the end of 2012.
     

  • Casey's profit slips in Q1 but beats Street

    Ankeny, Iowa -- C-store operator Casey's General Stores Inc. reported Monday a profit of $39 million in the quarter ended July 31, compared with a profit of $39.4 million last year.

    Results beat Wall Street expectations, although flat revenue of $1.87 billion missed forecasts of $1.93 billion in sales.

  • The Men’s Wearhouse to open outlet stores

    New York -- The Men’s Wearhouse will make its outlet center debut in the fourth quarter, opening five stores under the Men’s Wearhouse Outlet banner, management said during the company’s recent earnings call with investors. The stores will be located in outlet centers across the United States.

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