Mergers & Acquisitions

Minneapolis -- Best Buy said in fiscal 2012 it will concentrate on growing its smaller-format mobile chain and restructure parts of its supply chain processes to cut costs and improve efficiency. The retailer plans to open about 150 Best Buy Mobile stand-alone-stores in the United States, for a total of some 325 locations by year-end.

Best Buy plans to open about six to eight Best Buy-branded large-format stores in the United States, along with 18 Best Buy stores in Canada, the United Kingdom and Mexico during the year.

FRAMINGHAM, Mass. — TJX Cos. reported a 15% drop in fourth-quarter earnings, dragged down by costs to close its A.J. Wright store division. The company also plans to repurchase $1.2 billion of its stock this fiscal year and raise its dividend.

The retailer earned $334.4 million in the three months ended Jan. 29, compared with $394.9 million in the same period last year.

Revenue rose 6.5% to $6.33 billion. Same-store sales were up 2% over the prior year’s strong 12% increase.

Mexico City -- Wal-Mart de Mexico SA reported Tuesday that profit for the fourth quarter increased 14%, citing newly acquired stores in Central America for the improved performance.

The Mexican unit of Wal-Mart Stores said that net income rose to $539 million in the fourth quarter, up from $474 million in the year-ago period.

Revenue rose 25% to $8.3 billion. 

Walmex recently acquired stores in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.

Dallas -- Zale Corp. said Tuesday that it has appointed David F. Dyer, chairman, president and CEO of Chico’s FAS, to its board of directors, effective immediately.

The company also announced the resignation from the board of Charles M. Sonsteby, who had served since November 2006.

Dallas -- Alliance Data Systems Corp., a provider of loyalty and marketing solutions derived from transaction-rich data, said Tuesday it has signed a new, long-term agreement to provide private label credit-card services to women’s apparel retailer J.Jill.

ST. LOUIS — Save-A-Lot on Monday announced that it was expanding its reach by opening five new stores in the Chicago market.

Save-A-Lot, the hard-discount, limited-assortment grocery retailer and subsidiary of Supervalu, would nearly double its presence in the area, bringing the total Chicagoland stores to 13. The five stores, located in Chicago's South Side, range in size from 11,000 to 21,000 sq. ft.

New York City -- Blockbuster said on Monday that it reached a $290 million deal to be bought out of bankruptcy by a group of investors.

The offer by a group of hedge firms comprised of Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Värde Partners -- is a so-called “stalking horse” bid. It sets a base price that Blockbuster hopes will attract other potential suitors who will offer more.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.