Mergers & Acquisitions

Mooresville, N.C. - Ross W. (Bill) McCanless will be joining Lowe’s Companies Inc. as general counsel, secretary and chief compliance officer, effective Jan. 12, 2015. McCanless will replace Gaither M. Keener, who announced plans to retire from the company following 30 years of service.

Merrimack, N.H. -- Brookstone Inc. will appoint senior retail executive Thomas M. Via as president and CEO, and as a member of its board of directors, effective Dec. 1. Steven H. Schwartz, who had been serving as interim CEO, will resume his role as chief merchandising officer.  

Newport Beach, Calif. –- Formerly pure-play online specialty cosmetics retailer Urban Decay has reportedly entered the brick-and-mortar arena. According to the Los Angeles Times, Urban Decay opened its first physical store, at the Fashion Island mall in its headquarters town of Newport Beach, Calif., on Monday, Nov. 17.  

Canton, Mass. –- Dunkin’ Donuts has signed a multi-unit store development agreement with existing franchisees ABDD Arizona to develop seven restaurants in Phoenix. The group's first restaurant from this franchise agreement opened Oct. 27.  

Toronto, Canada –- J.P. Morgan Chase & Co. will reportedly end its agreement to issue credit cards for Sears Canada when the term expires Nov. 15, 2015. According to the Wall Street Journal, in the meantime the two companies will explore opportunities to sell the credit card program to a third party, with Sears Canada receiving as much as $154 million if a sale goes through.  

A Toys“R”Us executive will take over the top post at Brookstone, the product development company and specialty retailer that emerged from bankruptcy this year after being bought by a group of Chinese investors.

“We were impressed by Tom's success at rejuvenating businesses and by his broad and deep achievements as a senior executive in the retail industry,” Piau Phang Foo, chairman of the board of directors, said. “He has demonstrated success at driving innovation and growth globally."

San Jose, Calif. -- West Coast sandwich operator Togo's Eateries, Inc. has named Jim Peros as its new COO, charged with overseeing all operations and the expansion of the brand's restaurants throughout the West.   

London -- Challenged to grow in the U.S., teen apparel chain American Eagle Outfitters is making good on its pledge to leverage the overseas market to kickstart expansion.   

Seattle -- Nordstrom has surpassed Wall Street estimates with an unexpected jump in profit and sales for the quarter ended Nov. 1.   The department store retailer reported a profit of $142 million for the third quarter, up from $137 million in the year-ago period.   Sales jumped 9% to $3.14 billion, beating the expected $3.11 billion in revenue. Same-store sales rose 3.9%.  

Books-A-Million has appointed Ronald J. Domanico to serve as a member of the board and a member of the audit committee of the board.

“We are very fortunate to have identified a director of the caliber and experience that Ron possesses,” said Clyde B. Anderson, the executive chairman of the board of directors of the company. “Ron is a seasoned financial executive that brings a depth of experience in finance, strategy, and operational matters to our board.”