Apparel

King of Prussia, Pa. -- O’Neill Properties Group announced that Bass Pro Shops  has signed a letter of intent for a 200,000-sq.-ft. store at The Point, in Sayreville, N.J., one of the largest new mixed use developments in the United States.

GREENSBORO, N.C. and STRATHAM, N.H. — VF Corp., owner of the Wrangler, Lee, 7 For All Mankind, among other big name apparel brands, has added another apparel juggernaut to its ranks. The company announced that it has signed a definitive merger agreement with The Timberland Company. VF will pay Timberland shareholders $43 per share, representing a total enterprise value of approximately $2 billion net of cash acquired. The merger agreement was unanimously approved by both companies’ boards of directors.

New York City -- China ranks as the most attractive emerging market for apparel retailers, according to global management consulting firm A.T. Kearney’s 2011 Global Retail Development Index for Apparel. The research analyzes retail markets worldwide, and ranks those countries that present the best opportunity for apparel retail expansion.

New York City -- Apparel giant VF Corp., whose brands include Wrangler, The North Face, and Nautica, said it has agreed to buy Timberland Co. for approximately $2 billion. The deal, expected to close in the third quarter, values Timberland at $43 a share, a 43% premium to Friday's closing price of $29.99 on the New York Stock Exchange.

New York City -- Local 1-S of the Retail, Wholesale and Department Store Union announced that more than 4,000 union workers at Macy's Manhattan flagship and three other New York locations have voted to strike if a new contract is not reached by midnight on Wednesday.

The other stores are in the Bronx, Queens and Westchester County.

Town Center at Boca Raton, in Boca Raton, Fla., has launched a redesign of its food court that will see it re-emerge as The Cafes at Boca.

Seattle -- REI (Recreational Equipment, Inc.) will open a store in Indianapolis, Ind. at the Plaza at Castleton next spring.

The approximately 23,800-sq.-ft, store will be the outdoor goods and apparel retailer’s first location in Indiana, and will include a bike shop for quick assemblies and repairs, a seasonal gear rental department, and a community space that will allow REI and its local partners to host classes, presentations and events to educate customers and members on a variety of outdoor topics.

In keeping with its renewed focus on EDLP, the average number of promotional pieces per market decreased to two in May compared with 2.8 the prior year, but the average number of pages increased to 40 compared with 30, according to the Chicago-based firm Market Track.