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Mergers & Acquisitions

  • DSW Q2 profit jumps on acquisition and rising sales

    Columbus, Ohio -- DSW said Tuesday that its second-quarter profit soared, boosted by a hefty one-time gain related to its acquisition of Retail Ventures.

    The results beat Wall Street expectations and the company boosted its full-year outlook.

    For the quarter ended July DSW posted net income of $139.9 million, compared with $26.9 million for the same quarter last year.

  • Cypress Retail to lease four Safeway-owned centers in Los Angeles

    Los Angeles -- X Team International announced that Los Angeles-based partner Cypress Retail Group has been retained by Property Development Centers, a wholly owned subsidiary of Safeway Inc., to serve as the leasing agent for four shopping centers under development and redevelopment in the Los Angeles area.

    The four shopping centers, located in La Canada, La Crescenta, Eagle Rock and Pasadena, are all being redeveloped, renovated or expanded, and are anchored by Vons, a Los Angeles-based, Safeway-owned grocery store.
     

  • Books-A-Million cleared to take over 14 Borders leases

    New York City -- A bankruptcy judge gave Books-A-Million the nod Monday to take over the leases of 14 Borders Group stores for just under $1 million.

    The stores are located mostly on the East Coast, and Books-A-Million is expected to take over the leases effective Sept. 20.
     

  • Banana Republic says Bonjour Paris

    PARIS — Gap Inc. has announced plans to open its first Banana Republic store in France in Paris in early December. Synonymous with culture, quality, heritage and style, the store will be , one of the most popular international shopping destinations in the world.

    The 15,952 sq. ft. Paris flagship store will be located on Avenue des Champs Élysées and will occupy more than two floors.

  • Cost Plus loss widens in Q2

    Oakland, Calif. -- Cost Plus reported Friday that its loss widened in the second quarter to $8 million, from $7 million in the year-ago period.

    Sales for the quarter rose 3.2% to $197.9 million, and same-store sales increased 2.8%.

    The retailer of home living and entertainment products closed five stores in the first six months of fiscal 2011, and said it expects to relocate one store in the third quarter of fiscal 2011.
     

  • Tiffany Q2 profit jumps 33%, to open 17 stores

    New York City -- Supporting continued strength in the luxury sector, Tiffany & Co. reported Friday that profit for the quarter ended July 31 soared 33% to $90 million, from $67.7 million a year earlier. Results surpassed Wall Street estimates, and the jewelry retailer raised its full-year profit outlook.

    Revenue surged 30% in the quarter, to $872.7 million, beating analysts’ expected $785.6 million.  Same-store sales jumped 22%.

  • A&P opens first new Pa. store in more than 10 years

    MONTVALE, N.J. — Grocer A&P officially opened on Friday its new Superfresh store, featuring a full-service pharmacy and expanded international offerings, in Philadelphia’s Northern Liberties neighborhood.

    The 51,000-sq.-ft. neighborhood store marks A&P’s first new store in Pennsylvania in more than 10 years, and brings nearly 120 new jobs to the community.

  • Bebe Stores Q4 profit doubles, plans net new store growth

    Brisbane Calif. -- Bebe Stores reported Thursday that profit for the fourth quarter doubled to $4.7 million, from $2 million in the year-ago period.

    Revenue rose 8% to $132.3 million, compared with $122.1 million last year and beating Wall Street expectations of $126.1 million. Same-store sales grew 7%.

    For the year, the company narrowed its loss to $1.8 million, from $5.2 million in fiscal 2010. Annual revenue increased 3% to $493.3 million.

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