Mergers & Acquisitions

Coach Inc. has added a luxury retail veteran to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."

Dublin, Calif. -- Ross Dress for Less will open two new stores in the Houston area on March 7.

The stores are located in the Center at Pearland Parkway in East Pearland, 15 miles from downtown Houston; and Ravenwood Village Shopping Center in Huntsville. With these new locations, Ross will operate 170 stores in Texas, its second largest state.

Together, Ross Dress for Less and dd’s Discounts currently operate over 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

Coach's efforts to regain its upscale brand identity received a boost this month with the addition of a veteran luxury goods retailer to its board of directors.

“We are extremely pleased that Andrea Guerra has agreed to join our board,” said Victor Luis, CEO at Coach Inc. “As Coach continues its transformation into a modern luxury lifestyle brand, Andrea's extensive exposure to a wide variety of best-in-class brands and his broad retail and international experience will prove valuable to our team."

Profit for rent-to-own giant Aaron’s, which has struggled with declining foot traffic and sluggish sales, fell 35% for 2014 and about 2.75% in the fourth quarter of last year.

Atlanta -- Rent-to-own retailer Aaron’s saw its profit drop 35% in 2014 amid declining traffic and weak sales. The company, which operates some 2,100 stores, was also impacted by hurt by various charges related to restructuring and the acquisition of Progressive Leasing.

Aaron’s reported net earnings of $78.2 million for 2014, compared to $120.7 million in 2013.

It's official: The long-struggling RadioShack has filed for Chapter 11 bankruptcy protection. The 94-year-old retailer made its filing in  U.S.

Boston -- Three of the nation’s largest asset disposition companies were the successful bidders in the race to liquidate inventory at Target’s 133 Canadian locations.
 
Gordon Brothers Group, Hilco Global (through its Canadian division  Merchant Retail Solutions) and affiliates of Great American Group secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations, with store closing beginning February 5, 2015.
 

It’s the end of an era that never really began for Target Canada as three of the biggest names in the asset disposition world begin store closing sales at Target’s 133 Canadian locations.   Gordon Brothers Group, Hilco Global and Great American Group were the successful bidders at a Jan. 27 auction and secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations.