Mergers & Acquisitions

Mark Horgan has been named executive vice president and chief investment officer at Brixmor Property Group and been give a wide range of responsibilities as the newest member of a revamped senior leadership team.

Party City Holdco Inc. narrowed its loss in the first quarter as gross margins improved. The party supplies retailer and wholesaler reported a loss of $394,000, in line with Wall Street expectations, for the quarter ended March 31, down from a loss of $8.5 million in the year-ago period. Total revenue was flat at $457.7 million, which missed Street forecasts.

Online retailer—and would-be rival to Amazon— Jet.com is continuing to spread its wings. The retailer is testing a home delivery service for fresh groceries in certain markets in the metro areas of New York, New Jersey and Connecticut, Pennsylvania and Washington, D.C. According to an email sent to some customers, produce delivery will take one to two days, with no fee for orders of $35 or more.

The nation’s two largest office-supply chains have pulled the plug on their $6.3 billion merger.

ICSC’s annual RECon convention has long been a rite of spring for many real estate professionals. For three decades, RECon has brought dealmakers and decision-makers to Las Vegas, and today the event regularly attracts more than 30,000 attendees.

The nation’s largest U.S. apparel retailer is looking to streamline its model. Amid first quarter same-store sales declines across all its brands, Gap Inc. said it is identifying opportunities to streamline its business to be more efficient and flexible. The retailer also is evaluating its Banana Republic and Old Navy store fleets, mostly outside of North America, with an eye to sharpening its focus on geographies with the greatest potential.

A company that achieved global fame for its simple glazed doughnuts has been acquired by the owners of a growing coffee empire. Krispy Kreme Doughnuts has agreed to be acquired by JAB Beech Inc., a unit of German investment firm JAB Holding Company, for about $1.35 billion. The deal, which would take Krispy Kreme private, is the most recent in a string of purchases by JAB Holdings, including its acquisition in late 2015 of single-serve coffee maker Keurig Green Mountain.

Traditional supermarket retailers are facing competition on all fronts, from online pure players, discount grocery chains and from the extreme-value general merchandise retailers (dollar stores). While dollar stores remain a niche segment, consumables are becoming a more important part of the sector, according to a report on forbes.com.