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Mergers & Acquisitions

  • J.C. Penney’s Johnson paid $53 million last year

    Plano, Texas -- Former Apple executive Ron Johnson, who became CEO of J.C. Penney in November, received $53.3 million in total compensation from the department store retailer last year.

    Johnson received a base salary of $375,000 and $52.7 million in stock awards, according to a regulatory filing. His performance-based bonus was $236,000, which the company said was pro-rated based on his period of service during the fiscal year. He also received compensation valued at $13,000 for personal use of the company's aircraft.

  • eBay names new PayPal president

    SAN JOSE, Calif. — eBay has named David Marcus president of its PayPal online payment provider division, effective April 2. A member of PayPal's executive management team, Marcus, has been leading PayPal's rapidly growing mobile payments business and has driven important mobile product innovations. Reporting to eBay president and CEO John Donahoe, Marcus succeeds Scott Thompson, who left the company in January.

  • Report: Sears to sell off Lands’ End

    Hoffman Estates, Ill. -- Multiple reports on Thursday said that Sears Holdings Corp. is considering a sale of its Lands’ End mail-order catalog business, as part of its move to raise up to $2 billion.

    The New York Post reported that Sears is in talks with several private-equity firms about the potential sale.

    Sears chief Eddie Lampert is said to be likely to hire Goldman Sachs to find a buyer for Lands’ End.
     

  • Workers’ rights issues emerge in Canada

    The United States isn’t the only country where workers’ rights are called into question by pro labor groups. North of the border, Target, which is expanding there for the first time, is facing criticism for its "anti-worker" policies from unions in both the United States and Canada. 

  • Modell’s Sporting Goods opens new New Jersey store

    Paterson, N.J. -- New York City-based Modell’s Sporting Goods said Wednesday it will open a new 7,000-sq.-ft. store in Paterson, N.J., on Thursday.

    The announcement comes off the heels of three store openings earlier in March in Brooklyn, N.Y.; Fresh Meadow, N.Y.; and Wayne, N.J.

    The retailer operates 151 stores located in New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and Washington, D.C. 
     

  • Charming Shoppes posts wider-than-expected loss; to close 90 to 150 stores

    Bensalem, Pa. -- Charming Shoppes Inc. recorded a wider-than-expected loss for its fourth quarter as higher product costs and discounts at its Lane Bryant division cut into margins. The chain said plans to close between 90 to 105 underperforming stores this year.

    Charming Shoppes, which hired Barclays Capital in December to help it review its options, posted a loss of $13.2 million for the three months ended January 28, 2012, compared with a loss of $30.4 million a year ago.

  • SRS hires three new team members

    Dallas -- SRS Real Estate Partners announced three new hires in brokerage, marketing and research.

    Scott Poehler, Alexandra Hilker and Kyle West have joined the SRS teams in Newport Beach, Calif.; Denver, and Orlando, Fla.

    Scott Poehler has joined SRS as an associate in the Newport Beach office, coming to SRS from Keller Williams Realty.

  • New outlet property to be developed in coastal Texas

    Corpus Christi, Texas -- Dolphin Ventures and EWB Development announced that they will develop The Outlets at Corpus Christi Bay, located in Corpus Christi, Texas.

    The project will be a partnership with the Lockard Cos.

    Phase one, slated to contain 281,526 sq. ft., is targeted for a late 2013 opening.

    “This center will fill a void in the Texas market and is one of the very last major tourist destinations in the U.S. without an outlet center,” said Lisa Quier Wagner of Dolphin Ventures and EWB Development.

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