Mergers & Acquisitions

NEW YORK -- VF Corp., whose stable of banners includes Vans and The North Face, announced an aggressive growth, including plans to open 400 U.S. stores across its various brands during the next five years. The company discussed these plans and more at an investor conference held recently in New York City.

In addition to the U.S. expansion, VF is looking to open some 225 stores in Europe and 80 in Asia. The expansion is expected to bring the company’s global store count to 1,500 units.

New York City -- American Apparel, which has yet to disclose certified financial results for 2009, has now delayed the filing of its 2010 annual report because it needs time to complete “reviews and analyses” of reports for both years. 

The troubled retailer, whose founder and CEO Dov Charney was recently accused in a $260 million suit of using a former employee as a sex slave, did admit it expects to register losses for 2010, according to a filing with the Securities and Exchange Commission.

NEW YORK — Following the recent sale of Walgreens' pharmacy benefit management business, Credit Suisse analysts said they are interested in the executive team's updated thinking on their healthcare strategy and plans for the $550 million in proceeds.

New York City -- Tiffany & Co. said fourth-quarter earnings rose 29% as net sales jumped 12% to $1.1 billion. The company earned $181.2 million in the quarter compared with $140.4 million in the year-ago period. The latest quarter includes from the pending relocation of Tiffany's New York headquarters staff.

For the full year, worldwide net sales increased 14% to $3.1 billion. Net earnings from continuing operations rose 39% to $368.4 million.

New York City -- Borders Group will close another 28 superstore locations in addition to the 200 locations it is already shutting down as part of its reorganization under bankruptcy protection.

The closings are expected to occur by the end of April and include stores in Hollywood, Calif., and Stamford, Conn.

"We reached the determination about these stores after a further review of their ongoing economic viability," Borders spokeswoman Mary Davis said in a statement.

New York City -- Shareholders of Jo-Ann Stores on Friday approved a $1.6 billion merger with an affiliate of Leonard Green & Partners.

Of all the shares that were voted, more than 99% were in favor of the agreement. Those in favor of the pact represented 82 of outstanding shares. The company expects the deal to close Friday.

The company will be delisted from the New York Stock Exchange.

Fairfield, N.J. -- Amerlux Global Lighting Solutions recently celebrated the grand opening of Guangzhou Amerlux Lighting Solutions Co. Ltd., its new facility in China, as well as a Hong Kong sales office. The Guangzhou location was officially launched on Feb. 15 with an elaborate traditional Chinese ceremony.

HUDSON, Ohio -- Jo-Ann Stores announced that its shareholders approved the adoption of the merger agreement between an affiliate of Leonard Green & Partners, L.P. and the company. Of the shares that were voted, over 99% were in favor of the adoption of the merger agreement. Approximately 82% of the total outstanding shares, as of the record date, voted in favor of the merger agreement. The company anticipates the closing of the transactions contemplated by the merger agreement, including the merger, will occur later today.