Mergers & Acquisitions

Gap Inc. has appointed Teri List-Stoll as executive VP and CFO, effective January 17, 2017.   List-Stoll will succeed Sabrina Simmons, whose departure was previously announced. Simmons will shift into an advisory role through the end of the company’s fiscal year.     Most recently, List-Stoll held the position of executive VP and CFO for Dick’s Sporting Goods. She left Dick’s in August 2016.     

There was a lot for Home Depot executives to like about the company’s third-quarter performance. The company reported sales growth of 6.1% and net earnings growth of 14.1%.   Beyond the numbers, here are some of the key takeaways form the company’s presentation to investors.   • Digital growth

The Home Depot on Tuesday reported sales and earnings for its third quarter that exceeded forecasts.    The world’s largest home improvement retailer posted a double-digit increase in earnings during the quarter, which it characterized as a balanced across-the-board period of growth.    Net sales jumped 6.1% to $23.2 billion, compared to $21.8 billion in the same quarter last year.   Comparable-store sales in the U.S. increased 5.9%. 

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter.    Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period.   On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.  

It’s official: The Finish Line considering selling its specialty running store chain.   The company announced that it is currently exploring strategic alternatives for its JackRabbit division (previously known as Running Specialty Group). The segment includes 70 specialty running stores in 17 states, such as Brooks, ASICS and Hoka One One.  

Regency Centers, a major player in grocery-anchored centers with 307 properties, and Equity One, owner of 98 retail properties, have signed an agreement to merge. Regency will continue as the surviving public company and, it claims, assume the position as the largest shopping center real estate investment trust.   The combined company is expected to have a total market capitalization of approximately $15.6 billion.   

The CFO of Neiman Marcus has resigned after 15 months on the job.   Donald Grimes has resigned as COO and CFO of the luxury retailer, effective immediately. No reason was given for his departure. But in an SEC filing, the company said Grimes's resignation "was not the result of any disagreement regarding any matter" related to its "operations, policies or practices."   Grimes joined Neiman Marcus in June 2015, after a seven-year stint at Wolverine World Wide where he was CFO. 

A Trump administration increases the chance that Walgreens Boots Alliance will successfully close its proposed acquisition of Rite Aid, though the deal's actual closing date may be extended further into first quarter 2017, according to a Seeking Alpha report.   

Beleaguered American Apparel has filed its second Chapter 11 bankruptcy protection in just a little over a year. But this time around its future as a retailer looks even more uncertain.  

J. Jill Group Inc. is moving forward with plans for an initial public offering.   The Quincy, Massachusetts-based retailer has tapped Bank of America, Morgan Stanley, and Jefferies Group LLC as underwriters for a possible initial public offering, Reuters reported.