Mergers & Acquisitions

The addition of 700 new stores last year and a 4.9% increase in fourth quarter same store sales helped Dollar General achieve record results and has the company looking to capitalize on the momentum by accelerating what is already the retail industry’s most aggressive new store expansion plan.

Dollar General chairman and CEO Rick Dreilling said the company will add to its 2014 year end store total of 11,789 units in 2015 by opening 730 new stores and remodeling 875 others.

Fremont, Calif. – Men’s Wearhouse reported a loss of $35.9 million for the fourth quarter, compared with a loss of $30.5 million in the year-ago period, weighed down by costs related to its June 2014 acquisition of Jos. A. Banks.

Net sales increased 66% to $928.4 million from $560.6 million, aided by the addition of revenue from Jos. A. Bank.

By brand, same-store sales increased 6.8% at Men’s Wearhouse stores, 8.6% at Moores and 6.8% at K&G. Sales fell 6.6% at Jos. A. Bank.

Goodlettsville, Tenn. — Dollar General announced Thursday that David Tehle, executive VP and CFO, will retire from Dollar General effective July 1, 2015. The retailer has started a search for a successor and will consider both internal and external candidates for the job.

The acquisition of JoS. A. Bank is weighing on the financials at Men’s Wearhouse, which posted a decline in profits for the fourth quarter.

Men’s Wearhouse reported a quarterly loss of $35.9 million, or $0.75 per share, versus a year-ago loss of $30.4 million, or $0.64 per share. Excluding non-operating items, the company lost $0.03 per share, versus a year-ago loss of $0.38 per share. Its net sales surged 66% to $928.4 million.

Houston -- Baker Katz, an X Team International partner and full-service commercial real estate brokerage firm, announced the acquisition of the former Baytown Seafood establishment situated on 30,000 sq. ft. of land in Houston.

The property is located at the cross streets of I-10 East and Haden Road. Baker Katz plans to demolish the current building to construct an 8,000-sq.-ft. building occupied by a combination of restaurant and retail tenants.

Increased sales at Famous Footwear and the divestiture of its Shoes.com website helped Brown Shoe increase profits in the fourth quarter.

Brown Shoe Company reported that same store sales increased 4%, while profit was $16.2 million, or 37 cents a share, for the fourth quarter that ended Jan. 31, up from $6.2 million a year earlier. Adjusted earnings totaled $9 million in the quarter, or 20 cents a share, up from $6.2 million a share, or 14 cents a share, a year earlier. Net sales rose 2.6 percent in the quarter to $615.4 million.

Toronto - Sears Canada Inc. has entered into a definitive agreement with Concord Pacific Group of Companies to sell and lease back three of its properties for $140 million. The after-tax proceeds, including adjustments, will be approximately $130 million.  

The locations include store space and adjacent property located at the Metropolis at Metrotown in Burnaby, British Columbia, Cottonwood Mall in Chilliwack, British Columbia and North Hill Shopping Centre in Calgary, Alberta. The transaction is scheduled to close on or about June 8, 2015.

New York -- Juicy Couture, which was acquired by Authentic Brands Group in 2013, may no longer be a coveted brand in the United States, but it is still has great appeal in foreign markets. The company expects to open 133 stores (through its various licensing partners) during the next five years, according to Women's Wear Daily.

Juicy will open 31 international locations in eight countries this year, the report said. Three of the countries — India, South Africa and Azerbaijan — will be new market entries for the brand.