Strategy

Hingman, Mass. -- The Talbots Inc. said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners. The company also said it entered an exclusivity agreement with Sycamore, which will end on May 15.

Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.

The board of retailer said it continues to evaluate strategic alternative.

By Robin Lewis, [email protected] and Michael Dart, [email protected]

New York -- St. Louis Real estate services provider Cassidy Turley announced that its retail corporate services team has been awarded project management services for DEB Shops new and remodeled stores throughout the United States.

Cassidy Turley will work with DEB to manage all components of the program, from store planning and design through construction, fixturing, closeout, and opening.

Merrimack, N.H. -- Brookstone has introduced automatic free shipping on all orders over $99 through Brookstone.com.

Orders less than $99 will automatically ship for a flat rate of $4.99.  Brookstone has also extended its customer care center hours to provide longer customer support hours and round-the-clock catalog ordering by phone.

SAN FRANCISCO — Shoppers who use their Visa cards when making purchases at discount stores and grocery stores/supermarkets will no longer have to sign for them if they spend less than $50. Beginning in October, discount stores and grocery stores/supermarkets in the U.S. can accept Visa cards for transactions up to $50 without requiring a cardholder signature or PIN, or providing a customer receipt unless requested by the cardholder.

Hollywood, Calif. -- Frederick's of Hollywood Group Inc. has retained Allen & Co. LLC, a New York-based investment bank, to assist the retailer in evaluating and exploring a broad range of strategic alternatives, including a sale of the company or a business combination.

Armington Hills, Mich. -- Agree Realty Corp. announced it has been named a Florida development partner for Wawa, which operates more than 590 convenience stores in Pennsylvania, New Jersey, Delaware, Maryland and Virginia.

“We are extremely pleased and tremendously excited to partner with Wawa on their expansion into Florida. Their pioneering approach to the convenience store and fuel station experience will offer Floridians additional choices and varieties that they have never had,” said Joey Agree, president and COO.
 

Boston -- City Sports will open its 21st store, in Burlington, Vt., on May 6.

The eco-conscious space—built utilizing reclaimed materials from previous stores—was designed to capture the spirit of the community. The existing ceiling was kept, and all lighting fixtures were replaced with energy-efficient bulbs.