Mergers & Acquisitions

New York -- The long-delayed, controversial American Dream retail-entertainment destination in the Meadowlands in East Rutherford, New Jersey, has snared three high-profile tenants.  

Hudson's Bay Company announced that three of its store brands — a 131,906 sq. ft. Saks Fifth Avenue, a 119,605 sq. ft. Lord & Taylor, and a 30,000-sq.-ft. Saks Off 5th — will be among the three million-sq.-ft. mega-center’s tenants. It is the first time Hudson’s Bay has housed all three of its U.S. banners in one location.

Houston -- The integration of the Sleep Train organization into Mattress Firm continues as the firm works to drive future growth.

Mattress Firm Holding Corp. announced that Ken Murphy has been promoted to president and Rob Killgore to COO.

Gymboree increased same store sales and profit in the second quarter, but the kids' retailer still plans to close dozens of stores and sell a distribution center.

In another indication of its growth aspirations, 99 Cents Only named a former high ranking Kroger executive president and CEO just months after the retailer tapped former Walmart executives to fill the head merchant and CFO roles at the 389-store retailer.

Hoffman Estates, Ill. --  Michael McCarthy spent 28 years at Sears Holdings before leaving the company in 2011, but now he is back in new senior level role at the Sears Hometown and Outlet Stores.

In 2012, Sears Holding spun off the Hometown and Outlet division, which is now the operator of 1,215 hardware, appliance and outlet stores and a separate publicly held company.

Michael McCarthy spent 28 years at Sears Holdings before leaving the company in 2011, but now he’s back in new senior level role at the Sears Hometown and Outlet Stores.

New York -- In another indication of its growth aspirations, 99 Cents Only named a former high ranking Kroger executive president and CEO. The hiring comes just months after the retailer tapped former Walmart executives to fill the head merchant and CFO roles at the 389-store retailer.

Former Kroger and Procter & Gamble executive Geoffrey Covert, 64, was named president and CEO at 99 Cents Only on Sept. 11, filling a position that had been held on an interim basis the past four months by board chairman Andrew Giancamilli.    

New York -- As Target Corp. continues its transformation under CEO Brian Cornell, news came out that the retailer is not renewing its contract with licensed apparel company Cherokee.

Dependent on Target for 43% of its revenue, Cherokee Global Brand saw its market value obliterated after it disclosed Target would not renew the decades-old relationship.