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Mergers & Acquisitions

  • Teen apparel retailer names new chief marketer

    Will A. Smith has joined Abercrombie & Fitch Co. as chief marketing officer.   Smith, who will report to president and chief merchandising officer Fran Horowitz, will be responsible for all brand, creative and digital marketing across the chain.   

  • Shoes.com shuts down operations

    In an abrupt move, Shoes.com pulled the plug on its operations on Friday, Jan. 27.   The company, which said in September it was preparing for its next phase of growth, took its three e-commerce businesses, Shoes.com, ShoeMe.ca and OnlineShoes.com, offline, and closed the doors to two brick-and-mortar locations in Vancouver and Toronto.  

  • Macy’s sells chocolate brand

    Macy’s is exiting the chocolate business.   The department store retailer is selling its Frango chocolate brand to Garrett Brands, owner of Garrett Popcorn Shops, for an undisclosed amount.     Macy’s had inherited Frango, whose roots date back to 1918, from Marshall Field & Co., which was acquired by Macy’s in 2005.  

  • Office supply giant names tech exec as new CEO

    Office Depot has named a successor to CEO Roland Smith, who previously announced his intention to retire from the company. The company also named a new chairman.    The retailer has appointed Gerry P. Smith as CEO, effective Feb. 27. Smith currently serves as executive VP and COO of Lenovo Group, a $45 billion global technology company.  

  • Walgreens, Rite Aid extend end date for merger

    Walgreens Boots Alliance and Rite Aid on Monday morning extended their previously announced definitive merger agreement under which Walgreens Boots Alliance will acquire all outstanding shares of Rite Aid.   The retail pharmacy operations also restructured a new deal that would value Rite Aid at between about $6.8 billion and $7.4 billion, depending on required store divestitures, down from an initial acquisition cost of $9.4 billion.  

  • Commentary: Starbucks now “firmly in middle age”

    Neil Saunders, CEO of retail research and consulting firm Conlumino, comments on Starbucks’ first quarter results in the remarks below.    

  • Children’s apparel retailer on the hunt for a new CEO

    The CEO of embattled Gymboree Corp. is stepping down.    The children’s apparel retailer said that Mark Breitbard will step down as chief executive once a successor has been named. He will assume the role of chairman of the board, effective February 1, 2017.  

  • Beauty retailer preps to launch new holding company

    Ulta Beauty is launching a new holding company.   On Sunday, Jan. 29, the beginning of the company’s new fiscal year, the retailer will form a new holding company, Ulta Beauty Inc. “Business operations will not change, and the primary purpose of the reorganization is to create a more efficient corporate structure,” the company said.    All outstanding shares of common stock will automatically convert, and the stock will continue to trade under the "ULTA" ticker. 

  • Finish Line sheds specialty running stores division

    Finish Line is cutting its losses related to its specialty running gear unit.   The sportswear retailer has sold its JackRabbit specialty running store division to CriticalPoint Capital LLC, a Los Angeles-based private investment firm.   

  • Another teen apparel retailer to close all stores

    It looks like it’s curtain time for The Wet Seal.   The struggling teen retailer is closing its 171 stores, along with its headquarters in Irvine, Calif., after being unable to obtain the necessary cash infusion or find a buyer, according to several media reports.        
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