Mergers & Acquisitions

The nation's largest discount retailer of perfumes and specialty celebrity and designer fragrances has filed for bankruptcy protection with a goal of moving its business forward — and closing more stores.    

Amazon found a savvy way to remind customers that it now owns Whole Foods Market.  

The Finish Line's board on Monday adopted a shareholders right plan as the retailer warned of a grim second quarter and a steep decline in sales and profits for the year.    

JAB Holding Company, the Luxembourg-based private equity firm, continues to expand its U.S. portfolio at a rapid pace. The company has entered into an agreement to buy Bruegger’s Bagels from Le Duff America, the Dallas-based parent of la Madeleine French Bakery & Cafe. Terms of the transaction were not disclosed.  

Riverstone Capital Group has purchased the 43,199-sq.-ft. Shops at Lexington Circle in the Atlanta suburb of Peachtree City.   Anchored by a Sprouts Farmers Market and located on the West Highway 54 retail corridor, the property offered for sale by Mirabeland Investments and Concordia Properties was not on the market long, according to the deal’s broker.  

As much as Sears deserves credit for the various actions it has been taking to shore up the company, there is no denying that this (Sears second quarter financials) is a miserable set of numbers. Indeed, the precipitous drop in comparable sales and the continued lack of progress on profit suggests the company isn't moving far or fast enough to ensure its long-term survival.  

Sears Holdings Corp.'s second-quarter earnings beat the Street as it benefitted from cost-saving initiatives. But it continued to struggle with weak traffic and declining sales, and added 28 more locations to its long list of store closings.    Sears reported that its second-quarter loss narrowed to $251 million, or $2.34 per share, in the quarter ended July 29, helped by cost savings resulting from the streamlining of operations and store closings.  

Abercrombie & Fitch on Thursday posted a much smaller than expected second quarter loss and better than expected sales amid strong demand for its Hollister brand.    The company reported a net loss of $15.5 million, or $.23 per share, for the quarter ended July 29, compared to $13.1 million, or $.19 per share last year. Excluding certain one-time items, Abercrombie posted a net loss of $11.0 million, or $.16 per share, compared to $16.8 million last year. Analysts on average had expected a loss of $.33.  

Signet Jewelers Limited is acquiring a fast-growing and innovative e-commerce company.   Signet, whose banners include Kay Jewelers and Zales, said that it has agreed to acquire R2Net, owner of online jewelry retailer JamesAllen.com, for $328 million in an all cash transaction. R2Net also owns Segoma Imaging Technologies, a technology provider for the jewelry industry.   

An 11-year veteran of Canadian department store giant HBC is stepping down.    HBC, whose banners include Hudson's Bay, Saks Fifth Avenue, and Lord & Taylor, announced that Don Watros, president of HBC International, has made the decision to leave, effective September 29, 2017. The company did not name a successor.