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  • Coyote Management and Garrison Investment acquire Central Mall

    Salina, Kan. -- Addison, Texas-based Coyote Management, L.P. and Garrison Investment Group said they have acquired, through their affiliates, Central Mall, in Salina, Kan.

    The 486,444-sq.-ft. enclosed regional mall is anchored by Dillard’s, J.C. Penney and Sears, and also features a 10-screen Showplex Cinemas and key major tenants Jo-Ann Fabrics and Old Navy.

    The newly acquired property augments the existing 2.8 million sq. ft. currently owned by Coyote Management.

  • Jo-Ann Stores to be bought by Leonard Green for $1.6 billion

    Hudson, Ohio -- Jo-Ann Stores said Thursday it has agreed to be acquired by an affiliate of private-equity firm Leonard Green & Partners for $1.6 billion in cash.

    Los Angeles-based Leonard Green’s acquisition of the U.S.’s largest fabric retailer follows its $3 billion purchase of J. Crew, announced in late November.

    Going private will enable Jo-Ann Stores to renovate stores and accelerate the chain’s expansion. It currently operates 756 stores.

  • Jo-Ann Stores to be acquired for $1.6 billion

    HUDSON, Ohio - Jo-Ann Stores announced that it has entered into a definitive agreement to be acquired by an affiliate of Leonard Green & Partners, L.P., for a total price of approximately $1.6 billion, or $61 per share in cash. The offer price represents a 34% premium to the closing price of Jo-Ann’s shares on Dec. 22.

  • GNC at opens at Merchants Park

    Houston -- Centro Properties Group said that General Nutrition Center has opened a 1,600-sq.-ft. store at Merchants Park, in Houston.

    Centro Properties Group, based in New York City, is the owner of Merchants Park.

  • Christopher & Banks swings to loss in Q3

    Minneapolis -- Christopher & Banks Corp. reported Wednesday a net loss of $9.2 million for the third quarter, compared with a profit of $7 million in the year-ago period.

    Sales dropped to $120.9 million from $132 million in the prior year. Same-store sales decreased 7%.

  • Bed Bath & Beyond expectations in third quarter

    Less than desirable economic conditions don’t seem to faze Bed Bath & Beyond, which again this week reported another quarter of strong financial results. The company said its earnings per share for the third-quarter period ended Nov. 27 increased 28% to 74 cents, handily exceeding analysts’ consensus estimate of 66 cents. Sales increased roughly 11% to $2.2 billion and same store sales advanced 7% on top of a prior-year comp increase of 7.3%.

  • Popeye’s to open two Greater Philadelphia stores

    Philadelphia -- Center City Philadelphia-based Michael Salove Co., an X Team partner, announced the completion of two lease transactions with Popeye’s Louisiana Kitchen in the Greater Philadelphia area.

    Popeye’s has signed a lease to open a 2,069-sq.-ft. freestanding unit in Wilmington, Del., and 2,152-sq.-ft. endcap at Darby Town Center in Darby, Pa.

    Both are slated to open in March 2011. Once open, these units will be the 15th and 16th for the New Jersey-based franchisee.

  • Year-end tax savings for retailers

    By Scott Balestrier & David Des Roches, BDO.com 
     
    Proactively managing taxes should always be top of mind for businesses at year-end. Recent Congressional actions and extension of the Bush-era tax cuts are serving as this year’s reminder. As many retailers seem to be returning to profitability, there are several tax and accounting opportunities that should be considered.

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