Mergers & Acquisitions

Walgreens Boots Alliance on Thursday reported net sales of $29 billion, representing an increase of 48.5%, for the first quarter 2016 that ended Nov. 30, 2015. The significant growth was attributed to the inclusion of Alliance Boots consolidated results, the company reported.

Mahopac, N.Y. -- Heidenberg Properties announced The Stop & Shop Supermarket Company has executed a lease to occupy 54,000 sq. ft. at Lake Plaza Shopping Center in Mahopac, New York.

The new Stop & Shop will be built from the ground up, replacing the existing 24,000 sq. ft. Key Food and the 7,800 sq. ft. CVS. This redevelopment will be more than 25,000 sq. ft. larger than the two existing stores, expanding Lake Plaza Shopping Center from 141,000 to over 166,000 sq. ft.

Nordstrom continues to expand its off-price format, with plans to open a Nordstrom Rack at The Marketplace at Braintree in Braintree, Massachusetts. The approximately 35,000-sq.-ft. store, leased from Seritage Growth Properties is scheduled to open in fall 2016.

Nordstrom Rack at The Marketplace at Braintree will join a diverse group of retailers including Ulta Beauty, Sports Authority, Best Buy, Bed Bath & Beyond and PetSmart. The 351,282-sq.-ft. center is located south of downtown Boston and near main highways including I-93, I-95 and Route 3.

The Finish Line has promoted its president to CEO and plans to close a quarter of its stores as the retailer said supply chain problems hurt its third quarter performance.

The retailer announced that Sam Sato will succeed Glenn Lyon as CEO of The Finish Line, Inc., effective Feb. 28. Lyon will transition to the role of non-executive chairman of the board.

Children’s Place did the most shareholder friendly thing possible just days after it announced a slate of other shareholder friendly measures.

Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

Leading department store operator Hudson’s Bay Company confirmed months of speculation and agreed to pay what appears to be a modest sum to acquire online luxury retailer Gilt Groupe.

Hudson’s Bay, which operates 470 department stores including Saks Fifth Avenue and the Off 5th discount format, said it agreed to pay $250 million for Gilt in a deal that will add $500 million to 2016, $40 million in adjusted operating profit by 2017 and countless synergies to leverage the combined companies’ infrastructure and customer databases.

St. Petersburg, Fla. -- The Sembler Company added 420,000 sq. ft. of new acquisitions to its portfolio in 2015, in addition to breaking ground on three new shopping centers and inking deals for three more – all while maintaining more than 95% portfolio occupancy.