Mergers & Acquisitions

Supermarket industry veteran Peter Lynch was named to the board of directors at Retail Properties of America (RPAI).

The publicly held owner and operator of 227 properties encompassing 31.2 million square feet said Lynch’s extensive experience in the grocery industry would aid RPAI in its repositioning efforts.

Hollywood, Calif. - Frederick's of Hollywood Group Inc. shareholders approved, at a special meeting of shareholders held May 28, the previously disclosed merger agreement that provides for the acquisition of the company. The merger was approved by more two-thirds of the aggregate voting power of the company's common stock.

Columbus, Ohio -- Express Inc. said on Thursday that its fiscal first-quarter profit fell to $5.08 million, from $32.4 million a year earlier. The company also announced it will close approximately 50 stores during the next 36 months, primarily at the end of their leases, even as it ramps up expansion of its of its new outlet-store concept. Express debuted its outlet format this past April.

Off-price department store operator Gordmans reported another quarter of weak sales under the control of private equity ownership as its searches for a full-time CEO and eyes e-commerce expansion in 2015.

New York — Skincare specialist Infinite Beauty has leased its first New York City location at 1031 Third Avenue and 61st Street, according to Faith Hope Consolo, chairman, and Joseph Aquino, executive VP of Douglas Elliman’s Retail Group, which represented both the landlord and tenant in the transaction.

The retailer has stores in affluent areas along the east and west coasts, from Boca Raton, Fla., to Annapolis, Md., and White Plains, N.Y., to Roseville, N.Y., and Palo Alto, Calif.

Hamilton, Bermuda -- It’s official: Signet Jewelers Ltd. has completed its acquisition of Zale Corporation for $21 per share in cash and a total consideration of $1.46 billion. Zale shareholders approved the acquisition by its longtime rival on May 29.

With the deal completed, Signet now operates over 3,600 locations under the retail banners of Kay, Jared, and Zales in the United States; H.Samuel and Ernest Jones in the United Kingdom; and People's in Canada. Signet also now operates kiosks in the United States under the Piercing Pagoda banner.

Walmart president and CEO Doug McMillon was among the dozens of high-profile business executives from the world of technology who participated in the inaugural Code Conference this week. Organizers of the event, which cost $6,500 to attend, made available a brief video of McMillon’s comments on a wide range of topics.

Philadelphia – The board of directors of Urban Outfitters Inc. has authorized the repurchase of 10 million common shares under a share repurchase program. Pursuant to this program, the company, at its discretion, may repurchase its common shares from time to time, subject to market conditions and at prevailing market prices.

Urban Outfitters has repurchased all of the shares available under its previous share repurchase programs, including the 10 million common shares authorized by the board of directors in August 2013.