Mergers & Acquisitions

Sears sells top brand, closing more stores
Sears Holdings Corp. is seeking to stop its bleeding and raise more cash by closing another 104 stores and selling its iconic Craftsman tools brand. The struggling retailer said it has reached an agreement to sell Craftsman to Stanley Black & Decker for a net present value of about $900 million, including future royalty payments. Sears, which will continue to sell Craftsman products, had put the brand, along with its Kenmore and DieHard brands, up for sale several months ago.
Walmart’s Jet.com acquires Zappos competitor
A new acquisition gives Walmart an even stronger foothold in the world of e-commerce. Jet.com, which was purchased by Walmart in September for approximately $3 billion, has acquired online footwear retailer ShoeBuy for approximately $70 million. The purchase expands Jet.com’s footwear offerings, and gives Walmart more firepower in its battle against Amazon, which owns ShoeBuy’s main competitor, Zappos. The deal closed on Dec. 30.

Online powerhouse among retailers looking to buy American Apparel

A few familiar retail names are reportedly in discussions to buy American Apparel. Amazon and Forever 21 are among the companies in talks with the bankrupt manufacturing and retail company and its advisors about submitting offers ahead of a deadline on Friday, Reuters reported.
2017 Survival Tips

Chief executives from leading retail real estate companies shed light on the new year’s most pressing challenges for their tenants
Walgreens Q1 profit tops as it moves toward closing Rite Aid deal

Walgreens Boots Alliance on Thursday reported a better-than-expected profit for its first quarter and also said an announcement that it has closed the deal on its proposed acquisition of Rite Aid would come soon. Walgreens confirmed it is actively engaged in discussions with the Federal Trade Commission regarding its pending Rite Aid acquisition, which was announced more than 14 months ago. Also subject to FTC approval is the sale of 865 Rite Aid locations to Fred's for almost $1 billion.
New CEOs to Watch

The past year brought with it a changing of the guard, as many companies named new leaders to steer their ships in a transformed marketplace. Here are six newly arrived — or soon to arrive — CEOs to keep an eye on in 2017:
Jeff Gennette, Macy’s: A 33-year company veteran who came up through the ranks, Gennette takes the reins from longtime CEO Terry Lundgren in the first quarter of this year.
Saks Off 5th to enter new market

Saks Fifth Avenue Off 5th will open its first location in Montreal, at CF Galeries d’Anjou. The approximately 30,000-sq.-ft. store will open this summer. “We have now announced four locations across Quebec and we look forward to bringing the Off 5th experience to these areas, said Jonathan Greller, president, Saks Off 5th and Gilt. CF Galeries d’Anjou is managed by Cadillac Fairview, and jointly owned by Cadillac Fairview and Ivanhoé Cambridge.
CBRE acquires real estate tech company

CBRE announced it has acquired Floored, a provider of 3-D graphics technology that helps retailers envision build-outs of their commercial space. Its SaaS (Software as a Service) solutions figure to quickly be incorporated into CBRE’s leasing operations.
Coach taps former Saks exec as new finance head

Coach announced the appointment of Kevin G. Wills as CFO, effective no later than March 2017. Wills joins the upscale specialty retailer from AlixPartners LLP, a global business advisory firm, where he has served as managing director and CFO since March 2014.
Expanding North

DLC Management Corp.’s grocery-anchored shopping centers can be found in places such as Dallas; Milwaukee; Columbus, Ohio; and Birmingham, Ala.; but the company has a special stake in the Northeast. In October, DLC closed the biggest deal in its history, acquiring a passel of 16 centers, all but one of them in New York state. Chain Store Age Real Estate Editor Al Urbanski talked with DLC CEO Adam Ifshin and asked him what retailers need to know about the Northeast market.