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Mergers & Acquisitions

  • Acquisition creates discount giant

    Chesapeake, Va. -- It’s a done deal.

    Dollar Tree announced Monday that it has completed its $8.5 billion acquisition of Family Dollar Stores.

    Gary Philbin, 58, formerly president and COO of Dollar Tree, has been named to the same position at Family Dollar, effective immediately. In his new role, Philbin will continue to report to Bob Sasser, CEO of Dollar Tree.

  • Thirty-one stores and growing

    Chicago -- Marbles: The Brain Store is in an expansion mode.

    The retailer has opened a new store in Washington D.C., at National Harbor, the waterfront shopping and entertainment district on the Potomac River. It is Marbles’ second location in the Washington, D.C., area and its third to open this summer, with new stores debuting in Times Square in New York City and Myrtle Beach, South Carolina, marking its first location in the southern region.

  • Sears hits its big with REIT offering

    Hoffman Estates, Ill. – Sears Holding Corp. has met financial expectations for its new real estate investment trust (REIT) called Seritage Growth Properties. A 53.3 million-share Securities and Exchange Commission (SEC) subscription rights offering for Seritage that closed on July 2 was oversubscribed and generated about $1.6 billion, meeting expectations for gross proceeds of $1.57 billion.

  • American Apparel saga continues: May need more cash

    Los Angeles -- American Apparel on Monday announced it would close some stores as part of a $30 million cost-cutting initiative in its strategic turnaround plan. (American Apparel CEO Paula Schneider discussed the plan with CSA in a recent interview.) The embattled company also made two other revealing disclosures.

  • Conn’s is on the move through the South

    Specialty home goods retailer Conn’s continues to expand outward from its home state of Texas with several recent openings in key markets pushing the company toward its ambitious 2015 growth plan.

    Conn’s currently operates 90 stores and earlier this year announced plans for between 15 and 18 new stores. Over the July 4 weekend the company added two store in North Carolina, a 46,000-sq.-ft. store in Charlotte and a slightly smaller 43,000-sq.-ft. store in Gastonia.

  • Rite Aid in new risk management appointment

    Camp Hill, Pa. -- Rite Aid Corporation is beefing up its risk management.

    The drugstore chain announced that Paul Zikmund, a risk management professional with nearly 30 years of experience, is joining Rite Aid as group VP of risk and controls.

    In this new position, Zikmund will oversee the risk management program for Rite Aid as well as its subsidiaries, RediClinic, Health Dialog and EnvisionRx. Zikmund will report to Tony Bellezza, Rite Aid senior VP and chief compliance officer.

  • Lids will keep playing ball with MLBPA

    Indianapolis - Lids Sports Group will continue living out the childhood dreams of countless consumers by “playing ball” with Major League Baseball players. Lids has reached a licensing agreement extension with the Major League Baseball Players Association (MLBPA) granting the sportswear retailer licensing rights to embroider the names, numbers and autographs of MLBPA players on New Era MLB-licensed caps.

  • RadioShack lives on

    Fort Worth, Texas – RadioShack, which came to the brink of disappearing earlier this year, will see its brand continue to live on thanks to new financing.

    General Wireless Operations Inc., doing business as RadioShack, has completed new financing totaling $75 million, consisting of a $50 million asset based lending credit facility led by RBC Capital Markets and a $25 million first-in last-out term loan led by Great American Capital Partners.

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