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FINANCE

  • Department store retailer hires debt advisor

    Hudson’s Bay Co. has brought in professional advice regarding its potential merger with Neiman Marcus.    The Canadian department store company has hired a debt restructuring adviser, investment bank Evercore Partners Inc., to review the potential acquisition and provide Hudson’s Bay Executives with ways on how it could proceed without Hudson’s Bay assuming Neiman Marcus’ full debt, according to a Reuters report on CNBC.com.     

  • Party City tops estimates; to launch new marketplace

    Party City on Tuesday announced earnings and revenue that topped expectations, and said it would launch an online marketplace for party services.  

  • Office Depot Q1 profit surges

    Office Depot’s profit in the first quarter more than doubled as its reduced store count led to lower operational costs.   The company's net income increased to $116 million, or 22 cents per share, in the quarter ended April 1, from $46 million, or 8 cents per share, in the year-ago period. Its results beat analysts’ expectations.  

  • Specialty retailer exploring long-term capital restructuring

    Nine West Holdings is taking action to deal with its debt.  

  • Coach snags rival in $2.4 billion acquisition

    Coach has acquired a brand with a strong following among millennials.   The luxury handbag company on Monday announced that it will acquire Kate Spade & Company for $18.50 per share in cash, which represents a premium of 9% to Kate Spade's closing price on Friday. The deal, which has a total transaction value of $2.4 billion, is expected to close in the third quarter of 2017 and add to adjusted earnings in fiscal 2018.  

  • Walgreens, Rite Aid deal inches closer to resolution — one way or the other

    Walgreens Boots Alliance has set in motion a mechanism that will result in the Federal Trade Commission having  60 days to either clear its $9.7 billion acquisition of Rite Aid or sue to block it,   Walgreens and Rite Aid Corp. announced late Monday afternoon that they have “certified substantial compliance” with the second request from the FTC regarding their proposed merger.   

  • New owner hopes to keep 70 Gander Mountain stores open

    Things may not be bad as they first looked for Gander Mountain Company.   Although there is a banner on the bankrupt company’s website announcing that all of its stores are going out of business, its new owner says that’s not exactly the case.  

  • Merger talks between luxury department store companies hit a snag

    Is Neiman Marcus about to be involved in a lawsuit as opposed to a merger?  
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