Financial/Banking

Paris -- A report released Monday by Reuters said that French luxury group LVMH will acquire Italian luxury jeweler Bulgari for $5.2 billion.

The offer, according to the report, is a 60% premium to Bulgari’s average share price, and indicates that the bounce-back of the luxury market could occur at a faster rate than Wall Street anticipated.

Rival bidders included the Richemont group and PPR, according to Reuters.

New York City -- The Conference Board’s Employment Trends Index, released Monday, increased in February for the fifth consecutive month.

According to the Conference Board, the index now stands at 101.7, up from January’s revised figure of 100.1. The index is up over 8% from a year ago.

WAYNE, N.J. – With reports of a possible IPO looming and strong quarterly results, Toys"R"Us is poised to dominate the toy sector, which has shown signs of a resurgence and renewed consumer interest, thanks to a number of innovations and must-have items as displayed during the 2011 Toy Fair. 

According to reports, the company is considering the idea of filing for an initial public offering this April, which is expected to raise about $800 million.

London -- Online sales club Privalia Venta Directa, S.L. said Monday it will acquire Dress for Less, a German online fashion retailer, from Palamon Capital Partners, a pan-European private equity firm.
 
The acquisition will be funded through a combination of $123 million of new equity provided by equity firms General Atlantic, Highland Capital Partners, Index Ventures and Insight Venture Partners.
 
Dress for Less founders Mirco Schultis and Holger Hengstler will become significant shareholders in Privalia.

New York City -- J.Crew Group said Monday its $3 billion deal to be taken private by two investment firms is complete.

The March issue of Fortune contains the magazine’s annual ranking of the most admired companies, and this year’s list shows Target ranked 22nd. Only Walmart (11) and Nordstrom (21) were ranked ahead of the company. Other notable retailers on the list who ranked lower than Target included Costco (29), Best Buy (36), eBay (45) and Lowe’s (49).

Nashville, Tenn. -- Genesco said Friday that its net income rose 19%, boosted by acquisitions and higher revenue from its stores.

Net income rose 19% to $30.9 million, from $25.9 million in the prior-year period. Revenue rose 17% to $560.5 million, from $479 million. Analysts expected revenue of $539.8 million.

Same-store sales were up 9%.

For the full year, net income rose 85% to $53.2 million. Revenue rose 14% to $1.79 billion, from $1.57 billion.

BENTONVILLE, Ark. — Walmart said Thursday that it is increasing its annual dividend 21% on the back of strong earnings.

The retailer last month reported a 27% increase in fourth-quarter net income as it benefited from cost-cutting and strong international sales. Walmart said it will pay an annual dividend this year of $1.46, up from $1.21. It will pay quarterly dividends of 36.5 cents in April, June, September and January in fiscal 2012, which ends Jan. 31.

The next dividend will be paid on April 4 to shareholders of record on March 11.