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Mergers & Acquisitions

  • Nordstrom Q1 income surges 25%; rolling out mobile checkout devices

    Seattle -- Nordstrom reported Thursday that its first-quarter net income rose 25% on improved revenue. But the company lowered its full-year outlook to reflect the impact of its acquisition of private-sale website HauteLook.

    Nordstrom said it earned $145 million for the quarter that ended April 30, up from $116 million in the same quarter last year. (The figure includes a charge related to the HauteLook acquisition.) Revenue increased 12% to $2.23 billion. Same-store sales were up 6.5%.

  • Small format’s future unfolds in NWA

    One of the more interesting developments in the retail industry is set to unfold in a series of small towns along the Western edge of Arkansas where Walmart is set open the first of its experimental small formats.

  • Gap to open stores in Serbia and Ukraine

    San Francisco -- Gap plans to open stores in Serbia and Ukraine later this year as its continues to expand its international operations.

    The chain said Friday that it signed new deals with existing franchise partners that will put Gap stores in Belgrade and Kiev.

    According to Stephen Sunnucks, the company's international president, the Ukraine is the fastest-growing retail market in Eastern Europe, while Serbia has many young customers who enjoy shopping.

  • McDonald’s to open at The Plazas at Spring Green

    Houston -- The Vista Cos. and Vista Spring Green, Ltd. announced that McDonald's USA has signed a 56,000-sq.-ft. ground lease at The Plazas at Spring Green.

    Construction on a new 4,800-sq.-ft. McDonald’s restaurant will begin in the coming weeks and is set to open in November.

    The Plazas at Spring Green, a Vista Equities Group development, is located in Katy, Texas.

  • Whole Foods to open in Minnetonka

    St. Paul, Minn. -- Paster Enterprises announced that Whole Foods Market is opening a 32,000-sq.-ft. standalone location at the company’s Minnetonka property.

    Construction on the project, a joint venture between Paster Enterprises and Shiner Capital Partners, a Chicago-based real estate investment firm, officially began on April 20.

  • Organic growth best for increasing market share

    Organic growth initiatives come out on top (46%) when it comes to how to increase market share, followed by a mix of organic growth and M&A (22%) and primarily M&A (22%), according to a survey of 152 senior financial executives of global retail companies by KPMG International.

  • Kohl’s focusing on smaller stores, looking at all options for new headquarters

    New York City -- Kohl’s Corp. is looking to focus on smaller stores as it continues to expand across the country, chairman and CEO Kevin Mansell said in remarks following the company's annual meeting Thursday, according to The Business Journal.

    The chain expects to open about 40 stores this year, and 30 of them will be smaller models. Kohl’s smaller footprint generally averages about 60,000 sq. ft. as compared with 90,000 sq. ft. for a typical store, the report said.

  • HanesBrand CFO seeks opportunities elsewhere

    WINSTON-SALEM, N.C. — HanesBrands announced that CFO E. Lee Wyatt has resigned effective June 30 and current controller and chief accounting officer Dale Boyles will serve as interim CFO while the company conducts a search to fill the position.

    Wyatt, 58, who joined HanesBrands before its 2006 spinoff to oversee the development of the company’s financial, accounting, and external reporting capabilities, is leaving the company to seek similar opportunities, according to HanesBrands.

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