Mergers & Acquisitions

Coppell, Texas – Alco Stores Inc. reported a net loss of $8.1 million in the first quarter of its fiscal year, up from a loss of $1.7 million in the year-ago period, amid an elimination of a tax benefit. The company also announced its CFO has left the company.

Net sales decreased 4.1% to $104.7 million, compared to $109.2 million in the first quarter of fiscal 2014. Same-store sales, excluding fuel centers, decreased 7.1%. Alco president and CEO Richard Wilson cited several ongoing initiatives as providing promise for future performance.

New York -- Coach plans to shutter about 70 underperforming stores in fiscal 2015, Crain’s New York reported. The retailer, which has been under heavy competitive pressure from Michael Kors and other upscale companies, also gave a disappointing revenue forecast for its current fiscal year.
   

The Indianapolis suburb of Plainview will be home to Walmart’s newest dedicated e-commerce fulfillment center when the 1.2 million-sq.-ft. facility opens early next year.

The retailer indicated in early June that Indiana would be home to its third e-commerce fulfillment center but did not identify the community at the time. Walmart’s other online dedicated centers are located in Texas and Pennsylvania. The newest facility will employ approximately 300 people with hiring expected to begin in October.

In his first full quarter as CEO of the nation’s largest supermarket retailer, Rodney McMullen had the pleasure of reporting sales and profits that exceeded estimates and increasing the growth forecast for a company that was already poised to surpass annual sales of sales of $100 billion.

Lancaster, Pa. -- Auntie Anne’s announced the addition of Okey M. Reese to the executive team. Reese, who has been with Auntie Anne’s since 2010, has been promoted to VP, real estate.
 
In this position, Reese will oversee the leasing, specialty retail, and franchise sales departments. His responsibilities will include the strategic oversight of identifying new growth opportunities throughout the United States, strengthening developer partnerships and assisting franchise partners in all aspects of the real estate process.

American Standard Brands president and CEO Jay Gould was appointed to the board of directors of American Standard’s parent company, LIXIL Corporation.

Gould joined American Standard Brands in January 2012.

According to the company, Gould executed a plan that quadrupled the company's EBITA, grew sales by 10% and improved gross margins by 700 basis points.

Specialty retailer Batteries Plus Bulbs is doubling down on its existing device repair business with plans to have the service in more than 650 stores by yearend.

Since August of last year, device repair was being tested in 40 markets nationwide and had grown to 275 stores, however the popularity of the service among consumers combined with the surging popularity of smartphones, iPods, tablets and other devices prompted the decision to expand the service to all stores, according to the company.