Mergers & Acquisitions

BIRMINGHAM, Ala. — Books-A-Million's quarterly profit edged up to $7.6 million, from $6.7 million a year earlier.

Sales increased 10.7% to $166.9 million, from $150.8 million. Same-store sales declined 5.7%.

During the quarter, the retailer said it incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new Bam! stores in October and November.

Birmingham, Ala. -- Books-A-Million reported Wednesday that profit for the quarter ended Jan. 28 edged up to $7.6 million, from $6.7 million a year earlier.

Sales increased 10.7% to $166.9 million, from $150.8 million. Same-store sales declined 5.7%.

During the quarter, the retailer said it incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new Bam! stores in October and November.

DALLAS — Zale Corp. has named Jamie Singleton SVP and general manager of Piercing Pagoda, effective March 27. In this role, Singleton will have overall responsibility for the company’s kiosk business and will report to Theo Killion, CEO.

Jacksonville, Fla. -- Bi-Lo has announced that it has successfully completed its merger with Winn-Dixie Stores. The two banners now will be subsidiaries of privately held parent company Bi-Lo Holding. Bi-Lo and Winn-Dixie will continue to operate under the same banners, and the company said it does not expect any store closures as a result of the merger.

Pleasanton, Calif. -- Safeway Inc. said Tuesday that Steve Frisby, president of its Portland division, will assume added responsibility for the company's Seattle division.

Frisby replaces Greg Sparks, who is leaving to pursue another business opportunity.

Indianapolis -- Simon Property Group announced that it will acquire a 28.7% equity stake in Klépierre from BNP Paribas for approximately $2 billion.

Klépierre is a Paris-based real estate company that focuses on the ownership, management and development of shopping centers, retail properties and offices across Continental Europe. Klépierre’s portfolio includes 271 shopping centers in 13 countries, with 50% of its properties in France and Belgium, 25% in Scandinavia, and the balance in Central and Southern Europe.

Dallas -- SRS Real Estate Partners announced that new leadership in the Houston office has been put in place to help strengthen the firm’s presence throughout central and south Texas.

Todd Wallace and Robert O’Farrell have been named co-market leaders for the Houston office, focusing on growth via building its retail brokerage team.

Wallace and O’Farrell currently lead the Austin and newly established San Antonio offices as well. With this leadership change, Wallace and O’Farrell will be leading all the offices.

New York -- Sprouts Farmers Market, a Phoenix-based natural-foods supermarket chain, has reached an agreement to merge with competitor, Sunflower Farmers Market, based in Boulder, Col. Terms of the deal were not disclosed.

The combined company will operate 139 stores in eight states under the Sprouts banner, with annual sales of approximately $2 billion. It will open about 12 new stores this year.

“Our operations are very similar," said Sprouts president Doug Sanders, who will lead the combined supermarket company.