Mergers & Acquisitions

Many retailers could be forgiven for thinking that their biggest challenge – satisfying the changing expectations of a digital-savvy and fickle customer base – just keeps on getting harder.  

It’s shaping up as a busy fall for Ross Stores.   The retailer is opening 25 Ross Dress for Less ("Ross") stores and nine dd's Discounts stores across 16 different states in September and October.   The new locations round out the company's expansion plans to add approximately 90 locations in 2016.  

Experienced investment industry executive David R. O’Reilly has been named chief financial officer of The Howard Hughes Corporation and will assume the office on Oct. 17. He fills the vacancy left by retired CFO Andrew Richardson.   O’Reilly joins the company from Parkway Properties, a Florida-based real estate investment trust whose portfolio is focused on office properties.  Previously, he served in senior executive positions at Banyan Street Capital, Barclays Capital, and Lehman Brothers.  

The mainstreaming of Manhattan’s once seedy Alphabet City continues apace with the promised arrival of Target on 14th Street and Avenue A.   RKF announced it has concluded a deal for Target to lease 27,000 sq. ft. in one of two seven-story buildings being constructed by Extell Development Company at this location. The mass retailer will occupy 17,700 sq. ft. in the lower level and 9,649 sq. ft. on the ground floor.  

Hotels may just be the new frontier for retailers.    Shinola, the quirky company best known for its pricey watches, bikes and leather goods, already has its headquarters, manufacturing arm and a flagship in Detroit. Next on the agenda: a 130-room-plus boutique hotel.  

Just two years after leaving the company, Tom Kiler has rejoined Edens as senior VP in charge of the company’s 20 Texas properties.   Kiler will be responsible for management of the current portfolio in the Lone Star State and will direct acquisitions, development, and operations of Edens properties in Dallas and Houston. These include Houston’s Uptown Park and Dallas’s Preston Royal.  

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.