Mergers & Acquisitions

New York City -- Saks on Wednesday announced it plans to close its Saks Fifth Avenue store located in the Cherry Creek Mall in Denver, Colo., on March 19. With the closing, the company will have closed seven Saks Fifth Avenue stores since July 2010.

JACKSONVILLE, Fla. - Winn-Dixie Stores announced that Laurence Appel, who joined Winn-Dixie in 2002 and formerly served as general counsel, corporate secretary and SVP human resources, has been named SVP retail operations. Appel replaces Frank Eckstein, who has retired from his current role but will continue to serve in an advisory capacity until the end of fiscal year 2011. 

Redwood Shores, Calif. -- Oracle on Wednesday announced that it has completed the acquisition of Art Technology Group (ATG).

With the addition of ATG, Oracle can now provide best-in-class cross-channel CRM, Retail and Commerce that enables unified marketing, merchandising, service and order management, supply chain, and a seamless, personalized customer experience.

An expanding number of consumers in search of value and an improved shopping experience at Family Dollar propelled the company to its strongest first-quarter same-store sales increase in 12 years, but profits for the period and the earnings outlook were below analysts’ estimates.

“Our comparable-store sales increase of 6.9% is the best first quarter result we’ve delivered in more than 12 years,” said Family Dollar chairman and CEO Howard Levine

The New Year is off to a busy start at BJ’s Wholesale Club. Amid ongoing speculation about the retailer being a potential takeover target, BJ’s on Wednesday announced the closure of five clubs, several senior level personnel changes and released its December sales a day earlier than normal.

Deerfield, Ill. -- Walgreens reported on Wednesday that its December sales rose 7.5% to $6.8 billion. The chain said that Duane Reade stores, which Walgreens acquired in April 2010, contributed 2.5 percentage points.

Walgreens’ same-store sales for the month rose 2.8%

The company said front-end sales were up 9.5%. Pharmacy sales, which accounted for 58.6% of total sales for the month, saw a 6% boost.

During the month of December, Walgreens opened three stores, including one relocation, and acquired three stores.

EL SEGUNDO, Calif. - Mattel announced that it has appointed Bryan Stockton, Mattel’s president of international, to the new position of chief operating officer, effective immediately. Stockton will report to Robert Eckert, chairman and chief executive officer of Mattel, as will Mattel’s finance, legal and human resources functions.

The company also announced that Neil Friedman, president of Mattel brands, will be leaving the company in March 2011.

New York City -- Reports circulated Wednesday that several potential suitors, including Sears Holdings and Urban Outfitters, have been studying J. Crew’s books. Urban Outfitters is seriously weighing a counterbid for the high-flying preppy retailer, according to a report in The New York Times. At least two other private-equity firms are also receiving confidential data on the New York-based retailer, Bloomberg reported.