Mergers & Acquisitions

Ron Rubin resigned his post as chairman of the board of PREIT and will be succeeded in that role by CEO Joseph Coradino. His departure was expected, having been announced last month.  

On the heels of announcing a comprehensive restructuring plan, Sears eliminated 130 jobs at its corporate office on Thursday, Feb. 23.   The layoffs, which are part of a $1 billion cost-cutting plan, were relayed in an email sent to corporate employees Thursday afternoon, according to Business Insider.   

The Limited is in line to get a new lease on life.    Sycamore Partners has won the auction for the e-commerce business and intellectual property of the bankrupt women's apparel retailer with a bid of $26.8 million, according to Reuters.   

Staying true to its recently announced growth plan, Dollar General is preparing to break ground on a new distribution center.   

Visa and IBM have a vision — that any device connected to the Internet of Things can securely process payments. And this means “any device.”  

Walmart’s house brands are getting a new audience — millennials.   Jet.com, which caters to the cost-conscious Gen Y segment, has started offering private label brands — Great Value, Equate and Sam’s Choice — from its parent company, Walmart, according to Bloomberg.   

Neil Saunders, managing director of GlobalData Retail, comments on Macy’s fourth quarter results:   

Dick’s Sporting Goods is expanding its breadth.   The chain is preparing to open five stores during the second week of March, a move totaling approximately 180,000 sq. ft. of retail space.    Specifically, a new Dick’s Sporting Goods will open in the Glendale area of Queens, New York, in one of the former Sports Authority locations that the company took over late last year. Another Dick’s store will open in Hinesville, Georgia.