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Mergers & Acquisitions

  • More comps declines at Sears and Kmart

    HOFFMAN ESTATES, Ill. — Sagging sales and declining profits plagued Sears Holdings during the fourth quarter as the company posted a $2.4 billion loss and announced several measures to bolster its balance sheet.

  • Sears reports $2.4 billion Q4 loss, will spin off some stores

    Hoffman Estates, Ill. -- Sears Holdings Corp. reported Thursday a loss of $2.4 billion in the fourth quarter, compared with a profit of $374 million in the year-ago period. And in a move long anticipated by some analysts, the chain also announced plans to tap into its massive real estate holdings to help make up for its faltering retail performance.

    Revenue slipped 4% to $12.5 billion from $13 billion. Same-store sales fell 4.1% during the quarter at Sears and 2.7% at Kmart.

  • Baker Storey McDonald Properties acquires Kentucky, Ohio centers

    Nashville, Tenn. -- X Team International announced that Nashville-based partner Baker Storey McDonald Properties has acquired two shopping centers located in Kentucky and Ohio.

  • Metro Commercial announces new hire

    Mount Laurel, N.J. -- Metro Commercial Real Estate announced that Jonathan Klear has joined its full-service brokerage team.

    Klear most recently worked for NAI Mertz.

  • Walmart wants to be the Amazon of China

    News this week that Walmart acquired a majority stake in one of China’s fastest growing e-commerce companies positions Walmart to become a dominant multichannel player in China far faster than it ever would have on its own.

  • Bankruptcies Key to Chain Retailers Overcoming ‘The Squeeze’

    By Dave Spargo, [email protected]

  • Esprit continues search for North American licensee

    Hong Kong -- Asian-based apparel retailer Esprit reported Thursday a net profit of $71.6 million for the six months ended December, beating Wall Street estimates.

    The retailer said it remains on track to close its directly managed stores in North America by end-March 2012 and will continue to look for a licensing partner.

  • Gordon Brothers announces senior management additions

    Boston -- Gordon Brothers Group announced that Mark T. Dufton has been named CEO and Neill J. Kelly has been named president of DJM Realty, Gordon Brothers’ real estate management affiliate.

    Dufton has held the role of interim president of DJM Realty since December 2011. He is a former veteran of the company, after having spent nine years with DJM as principal and senior managing director.

    Kelly is also a former DJM executive, having served as managing director from 1999 to 2003. He was previously principal at RK Realty Advisors.

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