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Mergers & Acquisitions

  • Walgreens' Wasson receives lifetime achievement accolade

    Former Walgreens president and CEO Greg Wasson became the chain drug industry’s first executive to receive the Grocery Manufacturers Association’s highest honor.

  • Cornell's revamp of Target leadership continues

    CEO Brian Cornell isn't done retooling the executive leadership team at Target Corp.: The retailer now has a new COO and CFO.

    Target has promoted current CFO John Mulligan to the newly created role of executive vice president and chief operating officer, effective Sept. 1. Mulligan will assume oversight of stores, supply chain and properties. Joining Target as executive vice president and chief financial officer will be Cathy Smith, a seasoned retail business leader. Both Mulligan and Smith will report to Cornell.

  • QVC adds some hipster cred with acquisition

    QVC just gained some credibility among hipsters and millennials by buying a popular Internet flash sale site that caters to those younger shoppers.

  • Company expands c-store network

    Westlake, Ohio -- TravelCenters of America has completed its previously disclosed acquisition of 33 convenience store locations in northern Illinois.

    The company expects the stores, which average approximately 3,400 sq. ft., will be rebranded as Minit Mart convenience stores and the sites will undergo improvements in the coming months.

    TravelCenters of America operates some 370 convenience stores under the Minit Mart, TA and Petro Stopping Centers brands.
     

  • Rent-A-Center key exec leaving to head up pawn business

    Plano, Texas -- Rent-A-Center announced the resignation of company veteran Mitchell E. Fadel, president and COO, effective Aug. 28.

    Fadel is leaving to join EZCORP, where he will be president, U.S. Pawn. In his new position, he will lead the company's pawn businesses in the United States.

  • For retailers, it may be time to ramp up the buybacks

    Retailers rely on a combination of dividend payments and share repurchase programs to return cash to stockholders, but the latter method is coming under scrutiny as Democrats look to leverage the populist theme of income inequality during the 2016 presidential campaign.

  • Another shakeup to the leadership at Target

    Another high level defection from Target's merchandising ranks suggests CEO Brian Cornell's strategic vision for the retailer is not universally shared.

    Jose Barra, executive vice president in charge of merchandising at Target, is departing the Minnesota-based retailer for a new position, The Wall Street Journal reported.

  • No fireworks or champagne for Party City

    The CEO of Party City said the earlier Easter holiday hurt its second quarter traffic as the retailer reported a loss.

    In the second quarter ended June 30, the party supply retailer said same-store sales rose 1.2%, shy of analysts' forecasts for growth of 2.8%. The company also posted a loss of $23 million, or 20 cents a share, compared with a profit of $2.5 million a year earlier. Overall, sales rose nearly 1% to $495.5 million in the quarter. 

  • Nordstrom sizzles, especially online

    Seattle -- Finally some good news in the department store sector.

    Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

    The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.

  • Cabela's adds Coors Brewing veteran to its board

    Nebraska-based sportings goods retailer Cabela’s has appointed the former CEO of Coors to its board.

    The company announced that Peter S. Swinburn has been named to its board of directors.

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