Mergers & Acquisitions

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that profit for the quarter ended April 28 surged 53% to $57.2 million, compared with $37.5 million for the year-ago period. The sporting goods retailer raised its earnings outlook for the year.

“For 2012, we are raising our full year guidance as we continue to invest in new stores and our e-commerce business, as well as our margin accelerators including inventory management, private brands, and product mix shift,” said Edward W. Stack, CEO.

New York -- Liz Claiborne Inc. said Tuesday that it has officially changed its name to Fifth & Pacific Cos., following an initial announcement in January that it would do so.

The company sold the Liz Claiborne and Monet brands to J.C. Penney Co. in November, freeing it up to concentrate more fully on its Juicy Couture, Lucky Brand and Kate Spade labels.

SAN LUIS OBISPO, Calif. — Shopatron, the flexible fulfillment company, has announced the appointment of Dave Morrison as its CFO.

Houston -- Discount supermarket operator Aldi announced it is preparing to enter the Houston market with 30 new stores over the next three years. The expansion will begin in spring of 2013, with the opening of more than 10 new locations.

With this expanded Texas footprint, Aldi is expected to bring 400 jobs and an investment of over $100 million of capital expenditures to the local community. The first Aldi stores in Houston will open in the spring of 2013, with more than 10 new locations.

Chicago -- A recent report from Jones Lang LaSalle showed that the current state of real estate markets suggests a temporary deceleration in the on-going global real estate market recovery.

According to JLL’s latest Global Market Perspective report, sentiment is, however, recovering and full-year 2012 commercial real estate volumes are expected to match the robust levels seen in 2011.

Dallas -- Venture Commercial said that LA Fitness has signed a long-term lease to open a 45,000-sq.-ft. facility in Garland, Texas.

The sports club will build a prototype building on the site of the former Mervyn’s building, which is being razed.
 

Indianapolis -- Simon Property Group announced that Saks Fifth Avenue Off 5th will open a total of seven new stores in the next two years in its Premium Outlets division, including new centers and existing centers.

MINNEAPOLIS — A new era is emerging at Best Buy as the company tries to come back from the fallout over disgraced former CEO Brian Dunn and re-establish itself is the dominant player in the CE space. To that end, the company's board of directors has elected Hatim Tyabji to succeed Richard Schulze as chairman of the company, effective at the conclusion of the annual meeting on June 21. Tyabji, currently chairman of the audit committee, has served as a director of Best Buy since 1998.