Mergers & Acquisitions

Just a few weeks after taking over several regional bedding companies, Mattress Firm reported profits of $15.6 million or 45 cents per share, compared to $18.1 million or 53 cents per share for the year-ago quarter. Sales for the third quarter increased 42.3% to $464 million from $326 million a year ago, reflecting same-store sales growth of 8.5%.

Chicago - HSA Commercial Real Estate announced that the firm has executed a 22,454-sq.-ft. lease with HomeGoods for the second phase of The Mayfair Collection, which is now under construction in Wauwatosa (Milwaukee), Wisconsin. HomeGoods will occupy the northern end cap of a building to be anchored by a 45,150-sq.-ft. Whole Foods Market.  

Destination Maternity has appointed the managing partner of investment firm Voce Capital to the company's board of directors.

"As a long-term investor in Destination Maternity, we look forward to bringing additional shareholder perspective to the board and continuing to work constructively with the company to help enhance its value," J. Daniel Plants of Voce Capital said.

Foothill Ranch. Calif. - Struggling teen apparel retailer Wet Seal has hired an investment banker and a senior adviser to analyze potential financial alternatives. Similar to other retailers in the teen sector, Wet Seal has faced up stepped-up competition from fast-fashion leaders such as Forever 21 and H&M.   

New York - The fast-growing accessories retailer Charming Charlie is entering the New York City market in spring 2015.   

Corner Bakery Cafe is in a growth mode. The company, which was acquired in 2011 by Roark Capital Group, an Atlanta-based private equity firm, is entering new markets and opening locations across the country, from New York City to Las Vegas. It will end the year with 185 cafes (114 company-owned and 71 franchised). The company plans to more than double its U.S. footprint by 2017 through a combination of franchised and company-owned cafes.

Gary Price, a restaurant executive with over 20 years of experience, joined Corner Bakery Cafe as president in October 2012.

Fred's Super Dollar has reported total sales for the third quarter of $476.2 million, up 3%. However, Fred's net loss totaled $10.4 million, or minus 28 cents per diluted share, compared with net income of $7.3 million, or 20 cents per share in the year-ago period.

Wet Seal has hired an investment banker and a senior adviser to analyze potential financial alternatives for the struggling retailer.

The company said it has hired investment bank Houlihan Lokey and former Tilly's Inc. executive William Langsdorf to aid in a strategic review. Wet Seal said it has not set a deadline for completion of the process and that “there can be no assurance that the exploration of the potential alternatives will result in a transaction.”

Tiffany & Co. reported a better-than-expected increase in same-store sales, mainly due to strong demand for high-end fashion jewelry in North and South America.  

CANTON, Mass. - Dunkin’ Donuts continues its aggressive expansion with the signing of multi-unit store development agreements with five franchise groups for a total commitment of 63 new restaurants in the greater San Francisco Bay Area, Palm Springs and Bakersfield over the next several years.