Mergers & Acquisitions

PayPal Holdings has expanded its growing foothold in physical retail.    The payments services company has entered into a partnership with MasterCard that will allow shoppers to use PayPal’s services in stores. In July, PayPal signed a similar agreement with Visa.    

Bids to assume the leases of 120-plus Hastings Entertainment stores will not be accepted after Sept. 15, announced RCS Real Estate Advisors.   The chain’s inventory was earlier purchased by Hilco Merchant Resources and Gordon Bros. Retail Partners after the music, movie, and video game chain was unable to emerge from Chapter 11. Hastings Entertainment was founded in 1972 by Sam Marmaduke, who as head of Western Merchandisers first convinced Walmart to carry music and continued to supply the chain until 1994.  

The story of Hy’s Toggery has been in the making for nearly half a century. What began in 1969 as a move by company founder Hy Wakstein to establish his own high-end menswear operation after 20-plus years in the industry would ultimately become a brand that has matured into one of the most respected independent clothiers in the southeast.  

Aeropostale may still live to see another day thanks to a last-minute bid.   In a development that no one saw coming, a consortium of landlords, liquidators and others joined together to make a $243.3 million offer to save 229 Aeropostale stores, Fortune reported. The group includes General Group Properties, Simon Property Group, Gordon Brothers Retail Partners, Hilco Merchant Resources, and Authentic Brands Group.  

Inland Private Capital Corp. announced the sale of a Mariano’s Fresh Market in Vernon Hills, Illinois, on behalf of one of its 1,000-plus investment programs. Sale price for the seven-acre property and 71,248-sq.-ft. store was $36.4 million.   Mariano’s, a Kroger banner, is Chicagoland’s up-and-coming fresh grocer with some 35 locations in the area. Roundy’s had owned the chain and held the lease at the Vernon Hills location until it was acquired by Kroger last November.  

In a deal that comes right before the all-important holiday selling season, Toys “R” Us has entered into an exclusive partnership with one of the toy industry’s premier doll brands.     Mattel’s American Girl division announced a multi-year partnership with Toys “R” Us that will make the toy giant the first — and only — U.S.-based retailer to feature American Girl in-store shops.   

Photo: Paul Pressler   The CEO of David's Bridal is out after three years on the job.    The specialty retailer said Pam Wallack has left the company, but gave no reason for her departure, the Associated Press reported. Wallack will be replaced by David’s Bridal chairman and former Gap Inc. head Paul Pressler, who once worked with her at Gap.          

DSW Inc. on Tuesday posted better-than-expected results for its second quarter and reaffirmed its full-year outlook.    The company also said it expects to see $25 million of annualized savings in 2017 as a result of a restructuring program it launched earlier this year, with about $7 million of the total to be realized this year. The retailer said the savings would result “from organization realignment and improvements in procurement and other business processes.”