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Mergers & Acquisitions

  • Appeals court revives Macy’s Martha Stewart claims against Penney

    New York – A state appeals court in New York has revived two claims Macy’s Inc. made against J.C. Penney Co. Inc. in a long-running dispute between the two department store chains about who has the right to sell Martha Stewart Living home products.   

     According to Reuters, in a unanimous decision, judges in the Manhattan Appellate Division ruled that Penney breached confidentiality provisions of Macy’s contract with Martha Stewart Living Omnimedia and Penney’s actions amounted to unfair competition.

  • Ex-Giant Food exec hired as Albertsons/Safeway CAO

    The recently merged Albertsons and Safeway organization has appointed Justin Dye as chief administrative officer of the combined company.   Lee Wilson, who previously held this position with the company, has elected to stay in his role as consultant and not go forward as an officer with the newly combined organization.  

  • Gap Q4 tops estimates as Old Navy, online surges; 20 Athleta stores on tap

    San Francisco -- Gap Inc. reported stronger-than-expected fourth-quarter results on Thursday, fueled by surging sales at Old Navy and strong online results. But it offered a disappointing profit outlook for 2015 as it feels the impact of the stronger U.S. dollar and West Coast port delays.

  • Blue Nile names private equity exec to board

    Seattle - Blue Nile, Inc. has added Robert van Schoonenberg to its board of directors, effective Feb. 23. van Schoonenberg is chairman and CEO of BayPoint Capital Partners LLC, a private equity firm, and a co-managing partner of AmeriCap Partners LLC, a growth capital investment firm.

    Prior to sale of the company to a strategic investor in June 2010, he was an investor in and served as chairman of Premiere Entertainment LLC, a company in the business of digital broadcast production.

  • Barnes & Noble to keep Nook after all

    Barnes & Noble has changed its mind about which business to spin off. But in the end, the bookseller will still have to compete with Amazon.

    Barnes & Noble now says it is looking to raise as much as $775 million by spinning off its college bookstore business, traditionally the strongest performing division for Barnes & Noble. Last May the company said it would be spinning off its Nook division after disappointing sales. 

  • Barnes & Noble to spin off college business

    New York – Barnes & Noble Inc. is separating its college business from its retail and Nook digital businesses. The planned separation of Barnes & Noble Education (which comprises the Barnes & Noble College business) will, when consummated, create two independent, publicly traded companies.

    The separation is intended to be a tax-free distribution to Barnes & Noble shareholders and is anticipated to be completed by the end of August 2015, subject to customary conditions.

  • Growth accelerating at Steinmart

    Off-price department store operator Steinmart is looking to capitalize on favorable business trends this year with an aggressive expansion plan that will see the company add 11 new stores.

    The Jacksonville, Fl.,-based operator of 270 stores had indicated last fall it would open 10 new stores this year, but after reporting better than expected sales results the growth target was increased by one location. Steinmart opened nine new stores last year as part of a renewed commitment to physical expansion.

  • Sears Q4 loss narrows but sales down; REIT to raise $2 billion

    Hoffman Estates, Ill. -- Sears Holdings Co. on Thursday reported its 11th consecutive quarterly loss, posting a loss of $159 million for the fourth quarter, down from loss of $358 in the year-ago period, amid cost reductions.

    The struggling chain saw its losses for the full year widen to $1.7 billion from $1.4 billion, marking its fourth straight year of decline. Total long-term debt rose to $3.2 billion from $2.9 billion a year earlier.

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