Mergers & Acquisitions

The man who turned a single struggling bookstore he bought in 1965 into a retail empire is retiring from active duty.

Leonard Riggio, founder and executive chairman of Barnes & Noble Inc., announced that he will retire as chairman in September, following the chain’s annual shareholder meeting.

“I’ve done everything I have wanted to do in business and now it is time for me to pursue the many other endeavors related to my philanthropic and social interests,” said Riggio.

The number of Sephora shops inside J.C. Penney stores is about to increase.

The department store retailer announced it will open 60 additional Sephora shops in Penney stores, including a flagship set to open in November.

Office Depot put the blame for disappointing first-quarter financial results on its delayed buyout by Staples.

"The protracted regulatory review of the pending Staples acquisition continues to have a substantial disruptive impact on our business," stated Roland Smith, chairman and CEO, Office Depot. “Our North American Business Solutions Division and International Division are more impacted by this disruption and accordingly, both failed to meet our sales and profit expectations this quarter.”

East Coast Wings & Grill’s ambitious growth plans are poised to benefit from a data-driven approach to site selection made possible by the Buxton Analytics Platform.

The casual dining chain currently has 31 locations and has signed agreements to add 80 new restaurants across the country within the next five years. To ensure those restaurants are in the optimal locations, East Coast Wings & Grill partnered with customer analytics firm Buxton.

East Coast Wings & Grill’s ambitious growth plans are poised to benefit from a data-driven approach to site selection made possible by the Buxton Analytics Platform.

The casual dining chain currently has 31 locations and has signed agreements to add 80 new restaurants across the country within the next five years. To ensure those restaurants are in the optimal locations, East Coast Wings & Grill partnered with customer analytics firm Buxton.

Sears Holdings will shutter its apparel design office in New York City.

The struggling retailer will shutter the 154-employee office in July, reported the New York Post, which cited a Department of Labor filing.

Sears will move approximately 40 positions to an existing site in San Francisco, with the remainder positions to be cut, according to the report.

SuperValu Inc. on Tuesday reported fiscal fourth-quarter profit that beat expectations. But in a setback to plans to spin-off its deep-discount banner, same-store sales fell 2.2% at Save-A-Lot.

SuperValu earnings in the quarter increased to $52 million, or 20 cents a share, up from $39 million, or 14 cents a share, a year earlier. Excluding debt refinancing, store closures and expenses related to the potential Save-A-Lot spinoff, adjusted per-share earnings rose to 23 cents.

RadioShack has named a new CEO with retail turnaround and transformation experience.

Dene Rogers will join the company as president and CEO on May 9, 2016. Rogers, who will also serve on RadioShack’s board, previously served as CEO of Target Australia and CEO of Sears Canada, which he led to become Canada’s most profitable online retailer, according to RadioShack.

At RadioShack, Rogers replaces CFO Gordon Briscoe, who has been interim CEO since January when Ron Garriques left the post after serving less than a year.

Supervalu on Monday announced that experienced financial executive and corporate board member Mary Winston has been appointed to Supervalu's board of directors effective April 27, 2016.

Shopper center operators have a new ally in their efforts to drive traffic called Cowboys Saloon: American Bar & Grill.

Cowboys is a new food and entertainment concept billed as a destination restaurant and country-western venue that is looking to grow rapidly the next few years. Founded six years ago, Cowboys is on a growth trajectory to operate more than 20 locations by 2018, up from the seven locations that will be open by year end.