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Mergers & Acquisitions

  • 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.

  • Robert Graham to open store in Mall at Short Hills

    New York -- Robert Graham announced that it has signed a lease agreement to open a store in The Mall at Short Hills, Short Hills, N.J. The store will carry the complete range of Robert Graham-branded merchandise, including men's sportswear, premium denim, tailored clothing, furnishings, accessories, outerwear, and women's sportswear.

    The Robert Graham store will open this summer.

  • Retailers Seek Alternate Financing Options

    By Seth Broman, [email protected]

    Despite news of a slowly recovering economy, small businesses are still being overwhelmingly turned down for bank loans. Tight credit restrictions and high loan eligibility requirements are leaving retailers with a lack of access to credit, stunting their ability to prosper and contribute to economic growth.

  • McKesson completes Katz Group Canada acquisition

    San Francisco -- McKesson on Monday announced that it has completed the previously announced acquisition of the independent banner and franchise businesses of Katz Group Canada in an all-cash transaction that closed March 25.

  • PREIT selects Joseph Coradino as next CEO

    Philadelphia -- The trustees of Pennsylvania Real Estate Investment Trust (“PREIT”) announced that Joseph F. Coradino will become CEO of the company as of the company’s annual meeting on June 7, succeeding Ronald Rubin, who will serve as executive chairman.

    Coradino has been with PREIT and a predecessor company for three decades, serving since 2004 as president of PREIT Services, LLC and PREIT-Rubin, Inc., and as a member of the office of the chairman. He has been a trustee of PREIT since 2006.

  • 7-Eleven plans major expansion in Jacksonville, Fla.

    New York -- 7-Eleven Inc. plans to open 15 to 20 stores this year in the Jacksonville, Fla., market and 80 locations by 2015, according to the Florida Times-Union.

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