Mergers & Acquisitions

Regional discounter ALCO Stores succumbed to market pressures and filed for Chapter 11 bankruptcy.

The operator of 198 stores in 23 states was founded in 1901 and sought to serve small underserved markets with a broad range of value priced merchandise.

Genesco’s Lids division has acquired Jersey City Canada, a licensed sports apparel, headwear and novelty company operating 28 retail stores across four Canadian Provinces.  

The acquisition includes nine headwear only Capz stores, and two websites operating under www.jerseycity.ca and www.CFLshop.ca. Partnering with the CFL, Lids will become the online provider of the Canadian Football League officially licensed merchandise. With this acquisition, Lids will now operate more than 150 locations across Canada, an increase of roughly 35%.

Family Dollar’s fourth-quarter results were affected by decreased customer traffic, prompting chairman and CEO Howard R. Levine to point out that the company is still in the early stages of its turnaround plan.

A decrease in same-store sales and losses resulting from Destination Maternity’s continued efforts to close underperforming stores fueled a net sales decline in the fourth quarter — just two months after Anthony Romano came on board as CEO.

Net sales at Destination Maternity dropped 5% to $122 million in the fourth quarter of fiscal 2014, from $128.3 million the same quarter a year earlier. Same-store sales, including Internet sales, declined 5%. Sales results were below previously released guidance.

Campbell Soup Company has designated Brandywine Realty Trust as the developer of the mixed use development for Camden’s Gateway District. Campbell, the State of New Jersey, the County and City of Camden announced plans to develop the area adjacent to the company’s world headquarters in February 2007 with Campbell designated as the master redeveloper of the project.

The 13 acres earmarked for development are located off Newton Ave., between Admiral Wilson Blvd. and 11th Street.

President Barack Obama announced his intent to nominate Giant Eagle executive chairman David Shapira to the role of governor for the board of governors of the United States Postal Service.
 

Dublin, California -- Ross Dress for Less will open a new store in the Ridgewood Court Shopping Center, in the capital city of Jackson, Mississippi, on Oct. 11. It is the retailer’s second location in the greater Jackson area.

This new opening is part of the retailer’s 2014 expansion program, totaling approximately 75 new locations during the year.  

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.