Mergers & Acquisitions

Los Angeles -- The nation’s largest privately held specialty premium coffee and tea retailer has a new chief.

The Coffee Bean & Tea Leaf named John Fuller as its new president and CEO. For the past five years, he served as president and CEO of The Johnny Rockets Group, where he directed operations for the multi-million dollar global restaurant chain, which spans 28 countries with 338 locations. Fuller left Johnny Rockets earlier this year.
 

Norwalk, Conn. – Online pricing provider The Priceline Group is digging into the food service market.

Priceline has acquired AS Digital, an Australian provider of restaurant table and reservation management solutions.

London – Natalie Massenet, founder and chairman of U.K.-based online luxury retailer Net-a-Porter, unexpectedly resigned from the company just as it looks to become a global powerhouse.

The former fashion journalist is leaving as Net-a-Porter, which she launched in 2000, prepares to be purchased from Swiss parent company Richemont by Italian e-commerce retailer Yoox. The merger will create the world’s largest luxury e-commerce group.

Philadelphia -- Teen and tween fave Five Below Inc. may not be meeting sales projections, but it remains on track for store expansion, with plans to open a total of 70 net new stores during fiscal 2015, including 16 net new stores in the third quarter.

The company, where every item costs no more than $5, is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

A rapidly expanding retailer led by a former top Walmart executive is supposed to produce strong same store sales growth, leverage expenses and increase profits. So why isn’t Five Below?

Joel Anderson’s tenure as CEO of value priced retailer Five Below (where everything cost less than $5) is off to an uneven start. The company is achieving its profitability targets, but doing so with productivity improvement in its selling space that is surprisingly weak given the newness of its store base.

The founder and chairman of U.K.-based online luxury retailer Net-a-Porter has unexpectedly resigned from the company ahead of a merger with another e-commerce group.

Fairfax, Va. -- One of the Web’s leading “geek-gear” and collectibles retailer is going offline.

Online retailer ThinkGeek is partnering with its new owner, GameStop, to open a new store format focused entirely on collectibles. The first ThinkGeek store will open in the Florida Mall in Orlando, on Sept. 25, and additional stores are planned.

Toronto – Real estate transactions helped Sears Canada swing to a profit in the second quarter even as revenue and same-store sales decreased.

The retailer on Wednesday reported net earnings of $13.5 million, compared to a net loss of $21.3 million the same quarter a year earlier. The company, which has been working to turn around its business, also announced additional cost-cutting plans and real-estate sales.

Boise, Idaho -- Haggen’s acquisition of 146 Albertsons and Safeway stores is shaping up as a disaster and the reasons why are detailed in a new lawsuit that puts the blame squarely on the parent company — Albertsons Holdings — of the divested stores.

New York -- The International Council of Shopping Centers named a 26-year Deloitte veteran as the fourth individual to lead the global trade association in its 58-year history.

Thomas (Tom) McGee, currently vice chairman, Deloitte LLP, was appointed president and CEO of ICSC, effective Sept. 21. He succeeds current ICSC President and CEO, Michael P. Kercheval who announced his retirement earlier this year.