Mergers & Acquisitions

Philadelphia – Net income at Destination Maternity Corp. fell 36% to $5.5 million in the third quarter of fiscal 2014 from $8.6 million a year earlier. Expenses related to the planned relocation of Destination Maternity’s corporate headquarters and distribution facilities, as well as costs related to its proposed and withdrawn merger with Mothercare plc, drove the reduction in net income.

New York — Nordstrom has announced plans to open a Nordstrom Rack at the Empire Outlets in Staten Island. The 34,000-sq.-ft. store is scheduled to open in fall 2016. The property is being developed by BFC Partners.

Atlanta -- First Data has taken a key step toward expanding its payment services by acquiring Gyft Inc., the Silicon Valley-based company that entered the $100 billion gift card market in 2012 and pioneered the concept of a mobile wallet for gift cards.

Downers Grove, Ill. -- FTD Companies Inc. will acquire the Provide Commerce floral and gifting business from Liberty Interactive Corp. for $430 million in cash and stock. Both companies have annual revenues of more than $600 million.

Matthews, N.C. – Activist investor Carl Icahn, who had been pressuring Family Dollar to sell the company, has reduced his ownership stake in the company from 9.39% to 6.09%.

Phoenix — CBRE Group, Inc. announced that Geoffrey Harris has joined the firm’s Capital Markets’ Debt and Structured Finance team as senior VP.

Based in Phoenix, Harris will play a key role in originating net-leased transactions for the firm nationally, in the multi and single-tenant, office, retail and industrial properties space.

Harris joins CBRE from Meridian Capital where he was managing director. He previously served as VP of Capital Markets at Marcus & Millichap.

Fremont, Calif. – The Men’s Wearhouse reported same-store sales growth of 3.6% for the second quarter of fiscal 2014 as of July 19. The retailer’s second quarter ends Aug. 2.

In addition, as of July 19 same-stores sales in Men’s Wearhouse’s Jos. A. Bank division, which was purchased in June 2014, were up 2.4%. Same-store sales at the Moore’s division were up 8.3%.

Fort Worth, Texas – Financial woes continue for RadioShack, which was recently notified it is in danger of being delisted by the New York Stock Exchange. According to a new report from Moody’s Investor Service, RadioShack is likely to run out cash by the end of October 2015.