Financial/Banking

J.C. Penney is pursuing a possible sale and partial leaseback of its headquarters building in Plano, Texas, as part of an ongoing effort to reduce debt and manage expenses.

The company announced Friday that a combination of favorable market conditions and a surplus of available square footage within the building make this an attractive real estate opportunity.

Sports Authority is taking steps towards filing for Chapter 11 bankruptcy protection, according to Bloomberg.

The retailer has a debt payment due in 10 days and in talk with its lenders about a reorganization plan under which it would close as many as 200 of its more than 450 stores, the report said.

Sports Authority reportedly skipped a $20 million in interest payment in January on a $343 million loan. It has 10 days to make the payment.

Rite Aid stockholders have voted to approve the proposed merger with Walgreens Boots Alliance, the Pennsylvania retailer announced Thursday morning.

Approximately 97% of the votes cast at today's special meeting of stockholders voted in favor of the adoption of the merger agreement, which represented approximately 74% of Rite Aid's total outstanding shares of common stock as of the Dec. 18, 2015 record date and constitutes a majority of the outstanding shares of Rite Aid common stock entitled to vote at the special meeting.

While the United States continues to experience slow, yet steady economic growth, the future of the domestic retail industry remains unclear as businesses are forced to adapt to a world where consumers are more cost-conscious than ever before. Amidst this challenging climate, retailers must be smarter at understanding their customers, products and the experiences they offer.

Revisiting Brand and Revenue Expansion Strategies

Columbus, Ohio -- WP Glimcher has completed the sale of Forest Mall in Fond Du Lac, Wisconsin and Northlake Mall in Atlanta. The two non-core assets were sold to private real estate investors for $30 million.

The year 2015 was a big one for mergers and acquisitions in the retail and consumer sectors, with 31 multibillion dollar deals driving activity during the year.

United States retail and consumer (R&C) total transaction value for 2015 hit a five-year high and surpassed the $100 billion mark for the third year in a row, according to PwC’s U.S. retail and consumer deals insights 2015 Year in Review and 2016 Outlook report.

Eugene Martin was named president and CEO at Gordon Brothers Finance Company succeeding Patrick Dalton who had previously announced plans to step down.

Better than expected holiday season and full year profitability at Toys “R” Us has the left the company optimistic about 2016 and looking at a financial restructuring which could free resources for growth initiatives.

Toys “R” Us said its estimated, unaudited and adjusted earnings before interest taxes, depreciation and amortization (EBITDA) increased 21% to $780 million during the fiscal year ended Jan. 30. Excluding a $42 million negative impact of foreign currency translation EBITDA grew 28%.