Mergers & Acquisitions

Washington, D.C. - The National Retail Federation today welcomed bipartisan patent reform legislation introduced by Senate Judiciary Committee Chairman Chuck E. Grassley, R-Iowa, and Ranking Member Patrick J. Leahy, D-VT, that seeks to protect retailers and other businesses from overly litigious patent trolls.

Plano, Texas – J.C. Penney Co. Inc. is expanding its in-store partnership with Sephora. Starting May 1, Penney will introduce Sephora to 25 additional stores, enabling the global beauty retailer to enter new and smaller markets, while expanding Penney’s reach as a destination for beauty.

Since the exclusive partnership launched in 2006, more than 500 Penney stores now feature a full-service Sephora offering.

The National Retail Federation issued a statement Wednesday supporting patent reform legislation seeking to protect retailers and other businesses from overly litigious patent trolls.

Minneapolis – Net earnings at Supervalu Inc. fell 14% to $36 million in the fourth quarter of fiscal 2014 from $42 million in the identical period a year earlier. Higher selling and administrative expenses, including store closure and benefit costs, helped reduce profits.

Carle Place, N.Y. – Net loss at 1-800-Flowers.com Inc. grew to $10.81 million in the third quarter of fiscal 2015 from $1.74 million in the same quarter the prior year. Higher operating expenses in areas including marketing and sales and technology and development helped boost net loss.

Minneapolis – Brian Cornell, CEO of Target Corp., reportedly received total compensation of $28.2 million in 2014. According to the Wall Street Journal, that figure includes $14 million in “make-whole” compensation he was paid for leaving his previous position as CEO of PepsiCo in August 2014.

Cornell also received a prorated salary of $595,000 from Target, among other compensation.

New York - Shareholders for Change at The Children's Place, an activist investor group led by Macellum Advisors GP LLC and Barington Capital Group L.P., has filed a detailed investor presentation with the Securities and Exchange Commission ("SEC"). The presentation supports the election of two board of directors nominees, Seth R. Johnson and Robert L. Mettler, at the upcoming 2015 annual meeting.

Purchase, N.Y. - MasterCard will acquire cloud-based analytics provider Applied Predictive Technologies (APT) for $600 million.

APT’s Test & Learn platform enables users to apply analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.

Family Dollar Stores Inc. has announced the passing of Mark R. Bernstein, a member of the company's board of directors, on April 27.

Cost-conscious consumers are continuing to seek out bargains at Supervalu's stores, prompting the company's profit to soar 50% in the fourth quarter.