Mergers & Acquisitions

Wal-Mart Stores’ Mexican unit is shedding its apparel store chain.   Wal-Mart de Mexico SAB (Walmex) is selling its Suburbia chain to El Puerto de Liverpool SAB, one of the largest department store operators in Mexico, in a deal valued at 19 billion pesos ($1.03 billion), Bloomberg reported.  

Supervalu is moving closer to spinning off its Save-A-Lot discount grocery banner.   The latest SEC filing by Supervalu is its most thoroughly documented to date, and details a 60/40 stock split of Save-A-Lot once it goes public, Twin Cities Business reported.   

Ralph Lauren Corp. swung to a loss in its first quarter as costs related to efforts to turn around its business cut into first quarter earnings. But it still managed to beat Wall Street expectations.   The company lost $22 million, or 27 cents per share, versus net income of $64 million, or 73 cents per share, in the year-ago period.     Revenue in the quarter was down 4% to a better-than-expected $1.55 billion.     

PizzaRev, the build-your-own pizza shop that has a franchising partnership with Buffalo Wild Wings, made its first foray into New England this week with the opening of a store in CambridgeSide Galleria in Boston.   Since joining forces with Buffalo Wild Wings in 2013, the fast-casual concept has expanded to more than 200 franchise locations. Its coverage had touched nearly all regions of the U.S. except for New England.  

Two outlet mall projects in southern Michigan have been abandoned and another will miss its scheduled opening date, according to a report in the Detroit Free Press.  

Doug McMillon, president and CEO of Wal-Mart Stores, and Mark Lore, co-founder and CEO of Jet.com, discussed Walmart’s acquisition of the online site and other industry topics on CNBC’s “Squawk Box.”  

Bankrupt Aeropostale Inc. may not be going out of business after all.   The teen apparel chain has resolved a dispute with lenders that threatened to sink a potential bid from a unit of Versa Capital Management to buy the chain out of bankruptcy, Bloomberg reported.   Versa would keep about 500 Aeropostale stores open, according to the report. 

Dick’s Sporting Goods is expanding its footprint in the Houston market.   The retailer is looking to open six stores this fall in the Houston area, up from the five it had previously announced, the Houston Business Journal reported.   In November, General Growth Properties announced it had signed lease agreements with Dick’s to open in five GG shopping centers in Houston: Baybrook Mall, Deebrook Mall, First Colony Mall, The Woodlands Mall, and Willowbrook Mall.