Mergers & Acquisitions

J.Jill Group is looking at a return to the public markets.   The apparel retailer, which is owned by private-equity firm TowerBrook Capital Partners LP, announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed initial public offering of its common stock. TowerBrook acquired J.Jill from Arcapita and Golden Gate Capital in 2015. The chain was previously owned by The Talbots.    

It’s not over yet for the embattled Sears Holdings, which is streamlining its operations on the heels of what appears to be a brutal fourth quarter.    The long-struggling retailer on Friday announced a comprehensive restructuring that will cut at least $1 billion in operating costs a year. The plan involves reducing corporate overhead (although Sears did not specify, job cuts are likely), closer integration of the Sears and Kmart operations and improving its merchandising, supply chain and inventory management.

Macerich is pursuing an option to acquire land in Rosemont, Illinois, to allow it to expand its Fashion Outlets of Chicago mall there, according to the local Daily Herald.   Rosemont authorities told the news site that Macerich could draft an option agreement within the next 60 days that would give it right of first refusal on a village-owned lot east of the shopping center that currently houses The Rosemont Theatre.  

CVS Health on Thursday reported record fiscal fourth-quarter and full-year 2016 results   Net revenues for the three months ended Dec. 31 increased 11.7% to $46 billion, up from $41.1 billion in the year ago period.  

Sears Holding Corp.’s chairman and CEO Eddie Lampert and the company's board settled a lawsuit alleging that the chief executive benefited from a spin-off deal.   The lawsuit was brought on behalf of Sears and against Lampert, other Sears directors and Seritage Growth Properties, the real estate investment trust established to acquire 235 of the struggling chain’s best stores, reported Reuters.  

The Iowa-based Von Maur department store chain will be installing a 90,000-sq.-ft. location at PREIT’s Woodland Mall in Grand Rapids, Michigan, in a space to be vacated by Sears. A 2019 opening is planned.   A 145-year-old, family-owned chain of 31 stores in 14 states, Von Maur’s offerings aspired to the high end with brands like Eileen Fisher, Coach, and Tommy Bahama.  

A retail pioneer in all-natural beauty products, ethical sourcing and environmental responsibility is facing an uncertain future.   L’Oreal is exploring a sale of The Body Shop for $1.1 billion, the Financial Times reported. The cosmetics giant bought the company, which operates some 3,000 stores across the globe, in 2006.   The Body Shop was founded in Brighton, England, in 1976 by Dame Anita Roddick. The brand has struggled recently amid increased competition from an array of brands. 

The Kroger Co. has acquired a New York City-based retailer of specialty cheeses and meats.   The supermarket giant has purchased Murray's Cheese, which was founded in 1940. Financial terms of the deal were not disclosed.    Kroger also bought the three Greenwich Village retail condominium units that house Murray’s home base. The five-story, 22,000-sq-ft. building, which is also home to a bakery, was owned by Murray’s Cheese.