Mergers & Acquisitions

Kenneth Marshall, a 25-year veteran of the retail real estate industry, has joined Olshan Properties as head of retail. For the last two years, he was VP of development at WP Glimcher.   Marshall began his career in 1991 with Urban Retail Properties and worked there for 12 years, rising to VP of development. He did stints at Westfield, Colonial Properties Trust, and Mid-America before joining Glimcher.  

Brick-and-mortar retailers such as Walmart and Best Buy are not only surviving online, but are thriving due to their sizable physical assets and digital investments.   That’s one of the main findings of a new report by Moody's Investors Service, which says that while Amazon keeps raising the stakes online and has a decade-plus advantage over other retailers in e-commerce, it still faces intense competition from the likes of Walmart and Best Buy, who are raising the bar online for other physical merchants.   

The Talbots announced that Michael Weiss, longtime CEO of Express, has joined the Talbots board of directors, effective Sept. 1, 2012.     Weiss held various leadership roles at Express, most recently serving from 2007 to 2015 as chairman, president and CEO. He joined Limited Brands in 1981 as the merchandise manager for an eight-store experimental division that became Express.     

The waning popularity of golf has taken its toll on the nation’s largest specialty golf retailer.

Golfsmith International Holdings Inc. on Wednesday filed for Chapter 11 bankruptcy protection, amid increasing debt and citing a strategy that it launched several years back to open bigger, most costly stores at a time when golf was beginning to decline in popularity. (Just last month, Nike last month announced it was leaving the golf hardware business, its worst-performing division. Adidas is selling its golf equipment business. )

Brookshire Grocery Co. is expanding its portfolio with a new, smaller-store store format.

The chain held three ribbon-cutting ceremonies on Sept. 13, completing the openings of 25 new Spring Market stores in Texas. The stores are located on former Walmart Express sites, which Brookshire acquired in July.

The stores bring Brookshire’s total store count to 177.

I’ve been thinking quite a bit lately about an article I read earlier this summer, a piece by Krystina Gustafson that appeared on cnbc.com entitled, “For retailers, closing stores isn't as easy as it once was.”  

Flip Flop Shops is expanding in both the physical and online channels.   The company, which was acquired by Cherokee Global Brands last year, is introducing a new “super kiosk” format. Measuring approximately 300 sq. ft. and built in the shape of a giant flip flop, the concept is slated for national rollout. It is designed to offer a nimble and novel format expansion to Flip Flop Shops’ retail presence.  

Apparel retailer Nasty Girl, one of the hottest apparel merchants on the Internet just a few years back, is looking for a possible buyer, Women’s Wear Daily reported.