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Mergers & Acquisitions

  • JCR acquires a retail condominium in Washington, D.C.

  • Zumiez net income, sales zoom in Q4; plans 55 new global stores

    Lynnwood, Wash. - Net income in the fourth quarter of fiscal 2013 at Zumiez Inc. increased 17.3% to $26.9 million, from $22.9 million last year. Net sales increased 1.1% to $226.8 million from $224.4 million, although same-store sales dropped 2.2%. Results for the quarter include a $5.8 million benefit related to Zumiez’ acquisition of Blue Tomato. Zumiez plans to open up to 55 new stores during fiscal 2014, including as many as seven in Canada and five in Europe.

  • Whirlpool touts ‘Made in U.S.A.’ and new jobs

    One day after Walmart announced a deeper commitment to domestic sourcing, Whirlpool said it planned to spend $40 million on U.S. manufacturing plant that will result in the creation of 400 jobs by 2018. The investment will double the size of Whirlpool’s plant in Greenville, Ohio, where KitchenAid brand small appliances are made, and bring the total workforce at the facility to about 1,400 employees. The plant has been in operation since 1942, and Whirlpool said it will launch the expansion project following final approval of state and local assistance.

  • Ann Q4 profit doubles; integrates stores and e-commerce; cuts 100 jobs

    New York – Ann Inc., owner of Ann Taylor and Loft, on Friday reported better-than-expected fourth-quarter profit but forecast a lower-than-expected outlook for the year. The retailer also announced a strategic realignment that includes integrating stores and e-commerce and will result in the loss of about 100 corporate jobs.

  • Quiznos files Chapter 11

    Denver -- Quiznos on Friday filed for Chapter 11 bankruptcy protection to reduce its debt. The sandwich chain said it filed after reaching a deal to cut its debt by more than $400 million, or about two-thirds. Quiznos said it would continue operating while it works to implement a debt-restructuring plan and make operational improvements.

  • Dollar General, Ross Stores and Dick’s bullish on expansion

    New York -- Dollar General, Ross Stores and Dick’s Sporting Goods are bullish on expansion. For 2014, Dollar General has budgeted $450 million to $500 million for capital expenditures, and plans to open 700 new locations. This follows a record year of square footage expansion during which the extreme-value discounter opened 650 stores. Ross Stores also continues to expand in 2014. The off-price apparel and home fashions retailer is on track to open about 95 new locations in 2014, comprised of about 75 Ross Dress for Less and 20 dd's Discounts.

  • Not cool: Aeropostale’s mall traffic troubles

    After a 15% fourth-quarter same-store sales decline, Aeropostale is looking to accelerate the pace of previously announced store closures, further reduce an already limited store expansion program and has secured new financial flexibility from a private equity firm.

  • Bad weather not slowing Dollar General growth

    An unrelenting Dollar General continues to push forward with plans to open 700 stores this year despite reporting weak financial results and a 1.3% same-store sales increase for the fourth quarter.

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