Mergers & Acquisitions

Stuart, Fla. -- Konover South announced the acquisition of 4.43-acres of land for its new 30,587-sq.-ft. Stuart Landings retail center in Stuart, Florida, for $2.25 million.

The center will be located at SE Federal Highway and SE Miami Ave., which shares U.S. 1 access with an adjacent Walmart Supercenter. Stuart Landings will feature a 17,837-sq.-ft. Aldi, a 3,500-sq.-ft. Aspen Dental with additional lease negotiations underway.

Tuesday Morning Corp. has selected the chairman of its board to be the off-price retailer's next chief executive, ending a search that began in September.

Steven R. Becker becomes the Texas-based retailer's next CEO, effective immediately. Becker has led Tuesday Morning's office of the chairman since Sept. 28, when the Dallas-based retailer’s previous CEO, Michael Rouleau, announced his retirement. Previously Becker had served as the company's chairman of the board since 2012.

According to the Associated Press, the company announced on Friday that it will sell itself to Bridgestone for $863 million, a $28 million increase over the previous deal. The two companies announced they would merge in October for a price of $15 per share. Then, Carl Icahn stepped in last week, offering $15.50 per share. [Nashville Business Journal]

The strong dollar’s influence on tourism and store traffic led the Neiman Marcus Group to report a decline in same-store sales for the first time in six years.

GameStop’s Technology Brands division has reached another milestone toward its goal of generating $1.5 billion in revenue by 2019.

The retailer announced it has opened its 1,000th technology brand store. The company now boasts the title of largest video game retailer in the world, as well as the largest AT&T authorized retailer and largest Apple-authorized specialist in the United States.

Despite the mixed outlook for holiday sales, the private equity community remains interested in retail, believing that the sector can offer the opportunity to achieve scalable growth.

Destination Maternity Corp. has turned down an offer from a French company that disclosed a 13.1% stake in the U.S. company, according to a Securities and Exchange Commission filing Monday.

The nation’s largest retailer of maternity apparel rejected an offer from children’s clothing company Orchestra-Premaman, which manufactures clothing for children and infants, saying the request for talks regarding a potential acquisition were not in the best interests of Destination Maternity shareholders.

Callison and RTKL have officially joined forces as CallisonRTKL.

The firm announced several senior-level appointments to launch its next level of growth:

Eric Lagerberg (New York) has been named executive VP and will serve as global practice group leader for retail stores and regional director of North America for CallisonRTKL.