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Mergers & Acquisitions

  • Dillard's divisional merger will eliminate 66 workers in St. Louis

    Little Rock, Ark. -- Dillard’s said Thursday it has offered to relocate 66 St. Louis employees whose jobs have been eliminated from the department store retailer’s merger of two merchandising divisions.

    Dillard’s is merging its St. Louis merchandising division with another in Little Rock, Ark. The St. Louis division is slated to close Oct. 23.
     

  • Brown Shoe swings to loss in Q2

    St. Louis -- Brown Shoe Co., parent to the Famous Footwear chain, reported Thursday a loss of $4.6 million for the second quarter, compared with a profit of $5.3 million in the year-ago period.

    Sales increased 7.2% to $628.1 million, from $585.8 million.

  • Collective Brands to close 475 underperforming stores as it considers selling itself

    Topeka, Kan. -- Collective Brands, parent company of Payless and Stride Rite shoe chains, announced Wednesday that it would close 475 underperforming stores over the next three years and has hired a firm to help it explore its options.

    The company hired Perella Weinberg Partners and Kurt Salmon as advisors to explore strategic alternatives.

  • Express Q2 profit falls 43%, but beats Street

    Columbus, Ohio -- Express reported Wednesday that profit for the second quarter fell 43% to $12.6 million, compared with $22.1 million in the year-ago period. Results still topped Wall Street expectations, and the company has upped it s forecast for the third quarter and full year.

    Revenue rose nearly 10% to $446 million from $407.3 million, beating analysts' average forecast for $439.6 million in revenue. Same-store sales rose 6%.

  • Ahold Q2 profit drops on increased U.S. competition

    Amsterdam -- Royal Ahold NV reported Thursday that net income in the second quarter declined to $287 million from $290 million a year earlier, dragged down by performance of its U.S.-based Stop & Shop grocery stores.

    The company cited increased competition in the U.S. for its lackluster quarter. Ahold said it will seek to limit price increases and cut costs in the United States, particularly at its Giant-Carlisle chain, which competes with Wal-Mart Stores.

    Second-quarter sales declined 3.5% to $9.9 billion.

     

  • Steve Jobs resigns as Apple CEO

    Cupertino, Calif. -- Apple announced late Wednesday that its CEO Steve Jobs has resigned his post, effectively immediately, to be succeeded by current COO Tim Cook.

    Jobs, the visionary whose contributions created the world’s most innovative technology company, is battling pancreatic cancer and has received a liver transplant. Concerns about his health led to his decision to resign.

  • Big Lots Q2 profit slips 8%

    Columbus, Ohio -- Big Lots reported Thursday that net income for the quarter ended July 30 declined 8% to $35.7 million, compared with $38.9 million a year earlier. The company cited same-store sales declines and a charge related to its new Canadian stores for the performance slip.

    Revenue rose 3% to $1.17 billion from $1.14 billion. Same-store sales fell 1.5%.

    Big Lots acquired Liquidation World in July as part of a strategy to expand into Canada.
     

  • Leading toymaker names new COO

    MALIBU, Calif. — U.S. toymaker, Jakks Pacific announced the appointment of Jack McGrath as COO.

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