Mergers & Acquisitions

Coppell, Texas – An increase in selling, general and administrative (SG&A) expenses driven by growing costs of advertising, new stores and store support helped Alco Stores Inc. swing to a net loss of $7 million in the second quarter of fiscal 2014 from net earnings of $800,000 a year earlier.

Net sales dropped 6% to $110.7 million, from $117.7 million. Same-store sales declined 8.9%.

Just three weeks after Alco appointed a brand new board of directors, the company reported a net loss of $7 million in the second quarter, compared to net earnings of $800,000 a year earlier, thanks in part to growing costs of advertising, new stores and store support.

New York -- Winick Realty Group announced that its New Jersey office has expanded, leasing a new location at 4 Commerce Drive in Cranford, which doubles the size of the company’s existing office.

The new 2,500-sq.-ft. office, which is set to open on Oct. 1, will allow the New Jersey branch to eventually accommodate up to 20 brokers and support staff.

Winick Realty Group said it plans to announce several new hires in its New Jersey office shortly after the completion of the move.

Dublin, Calif. - Ross Dress for Less will open a new store in Arizona on Oct. 11. The store is located in the Maryvale Plaza Shopping Center in Phoenix. 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 more than 1,300 off-price apparel and home fashion stores in 33 states, the District of Columbia and Guam.
 

Chicago -- The strategic merits of Burger King Worldwide's leveraged buy-out of Tim Hortons Inc. will be tested by Monday's enactment of tightened U.S. Treasury tax rules on U.S. companies seeking to re-domicile their headquarters in countries with more favorable tax systems, according to Fitch Ratings. The new regulation is meant to reduce the attractiveness of inversions and is effective immediately.

YCD Multimedia, a provider of professional digital signage software solutions, has promoted Sam Losar, currently its president of US operations, to CEO.
 
Assuming CEO responsibility from company co-founder Noam Levavi, Losar will be trusted with continuing to expand the growth he achieved in the Americas to its business operations in Europe and Asia.

Noam Levavi co-founded the company in 1999 in Israel and led it for more than a decade.

Dublin, Calif. – DD’s Discounts, a division of Ross Stores Inc. will open its first store in Louisiana on Sept. 27. The store is located in the Westside South Shopping Center in Gretna.

Including this new location, DD’s Discounts will operate approximately 150 locations in 14 states and is on schedule to complete its expansion plan to open approximately 20 locations in 2014.

Pleasanton, Calif. – Safeway Inc. is offering to pay cash consent fees to holders of three series of senior notes due in 2017, 2018 and 2019. Note holders who accept the fees would release Safeway of the obligation to repurchase the notes at 1% interest when its expected fourth quarter merger with Albertson’s LLC occurs.