Mergers & Acquisitions

Los Angeles – Forever 21, known for operating some truly large stores, is reportedly rethinking that strategy.

According to the Wall Street Journal, the specialty fast-fashion retailer is also in talks to obtain a $150 million load.

Pittsburgh – Dick’s Sporting Goods Inc. continues to expand its portfolio.

The retailer plans to open three new stores Sept. 11. Two of the stores will be located in Alabama and one in Arizona.

Dick’s will open its 13th and 14th stores in Alabama at the Shoppe at Legacy Park in Tuscaloosa and Cullman Shopping Center in Cullman, and ninth store in Arizona at Wilmot Plaza in Tucson. Dick’s will have 628 stores across the U.S. with these openings.

Jackson, Miss. -- The fast-growing Newk’s Eatery named Robert Nygren as CFO.

Nygren comes to Newk’s with nearly two decades of financial management experience. He most recently served as VP of finance for DineEquity, the world’s largest full-service restaurant company, overseeing financial planning, analytics and strategy for Applebee’s and IHOP in conjunction with the brands’ operational and development objectives.

Westborough, Mass. – Has BJ’s Wholesale Club found its next CEO?

The retailer named Christopher Baldwin, former CEO of Hess Retail, as president and COO, a position in which Baldwin is poised to succeed Laura Sen, current CEO of BJ’s.

Baldwin will assume his new responsibilities at the chain on Sept. 8, where he will oversee merchandising, logistics, membership, marketing club operations.

Christopher Baldwin has been named president and COO at BJ's Wholesale Club, Inc., putting the former Hess Retail CEO in position to succeed Laura Sen as CEO of the 208 unit warehouse club chain.

Mooresville, N.C. – Lowe’s Companies Inc. is making a big purchase that will enable it to build a big store on one of Hawaii’s biggest islands.

The retailer is purchasing an 11-acre property in Kahului, Hawaii for $18.7 million from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

Lowe’s plans to build a 167,000-sq.-ft. store on the site, located on the island of Maui. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party.

Seattle – The flop of Amazon’s Fire smartphone device last year continues to have repercussions.

According to the Wall Street Journal, Amazon has laid off dozens of employees who worked on developing Fire at its Lab126 innovation center in Silicon Valley.

GameStop Corp. grew sales and revenue in the second quarter, but it also took steps to expand its non-gaming business.

For the second quarter ended Aug. 1, the retailer’s net income rose 3% to $25.3 million from $24.6 million. Total global sales rose 2% to $1.76 billion from $1.73 billion, and consolidated global same-store sales increased 8.1% (10.8% in the U.S. and 1.8% internationally).