Mergers & Acquisitions

Casual Male accelerated the rollout of its DestinationXL format.

Hoffman Estates, Ill.-based Sears Holdings reported a second-quarter net loss of $132 million, compared with a loss of $146 million in the year-ago period.

Revenues totaled $9.5 billion for the quarter ended July 28, down 6% from $10.1 million in the second quarter of 2011. The company cited lower domestic comparable-store sales for the quarter and the effect of having fewer Kmart and Sears Full-line stores in operation. Sears Canada's comparable-store sales also decreased and included a decline of $55 million due to changes in foreign currency exchange rates.

Hoffman Estates, Ill. -- Sears Holding Corp. reported Thursday a loss of $132 million for the quarter ended July 28, narrowed from a loss of $146 million in the year-ago period. The retailer cited expense cutting and reduced inventory for the performance improvement.

WAYNE, N.J. — Toys“R”U opened its first stores in Beijing this weekend, marking its continued expansion across China. 

PURCHASE, N.Y. — The president of PepsiCo's Western Europe business has been given a new role.

PLEASANTON, Calif. — A new era is beginning at Ross Stores, as the company set out plans to elect a new CEO in 2014. At the same time, the company continues to put its trust behind vice chairman and CEO Michael Balmuth, agreeing to extend Balmuth's employment agreement through May 2016.

Minneapolis -- Best Buy Co. co-founder Richard Schulze said Thursday that he is staying the course on his plan to acquire the company and take it private, adding that he has heard from a lineup of private equity firms prepared to make "significant commitments."

In a letter to the Best Buy board, Schulze indicated that he'd like to create a group and put forth a fully financed plan.

NEW YORK — Equinox, an operator of full-service fitness clubs, announced that Sarah Robb O'Hagan, who currently serves as president of Gatorade and global sports nutrition at PepsiCo, will join the company as its first president. Robb O'Hagan will lead an aggressive domestic expansion strategy to maximize the continued success of the growing company, including its family of brands: Equinox, Pure Yoga, Blink, and SoulCycle. She will report to Equinox CEO Harvey Spevak.