Discount Store

Mega deals worth more than $1 billion drove the U.S. retail and consumer sector’s strong third quarter, according to PwC’s U.S. quarterly R&C Deals Insights report.

During the three-month period ending Sept. 30, 36 deals valued over $50 million were announced for the sector, with deal value up 64% in the third quarter, accounting for $46.6 billion, compared to $28.4 billion in the second quarter. Deal volume went up 6% from the second quarter, but down 36% from third quarter 2014.

Photo: Courtesy of Kmart/Wendy Williams poses during recent a Wendy Williams Show taping at Kmart where the retailer announced the Bluelight Specials are back.

Kmart is hoping that bringing back a 50-year-old marketing strategy will ignite a new sales push online and in stores.

99 Cents Only Stores has appointed a new CFO who has been a veteran retail leader for Kroger and Albertsons.

A private equity group better known for investing in established companies is creating a new dollar store brand after acquiring 330 Family Dollar stores from Dollar Tree.

Dollar Tree acquired Family Dollar earlier this year and to satisfy federal regulators, the company agreed to divest 330 Family Dollar stores. The acquiring company is a newly created portfolio company of the private equity firm Sycamore Partners called Dollar Express.

Just a few weeks after losing its CEO, Tuesday Morning posted impressive financial results for the first quarter, including an increase in same-store sales.

For the first quarter ended Sept. 30, the Texas-based off-price retailer posted a same-store sales increase of 3.6%. Net sales were $202.3 million, slightly higher than the prior year period. The company ended the first quarter with a store count of 757, a decrease of 44 stores year over year. Operating loss for the first quarter was $6 million.

German discount grocery chain Lidl has broken ground for a new regional U.S. headquarters and distribution center in Spotsylvania County, Virginia.

German discount grocery chain Lidl has broken ground for a new regional U.S. headquarters and distribution center in Spotsylvania County, Virginia. The facility is expected to create 200 jobs in the state and open no later than 2018.

More consumers plan to shop on Cyber Monday than on Black Friday, according to a recent Morpace Omnibus report.

Holiday intentions for U.S. consumers were revealed when the Omnibus data showed that out of 1,001 individuals surveyed, more than 57% plan to shop on Cyber Monday this year, compared to only 35% planning to shop on Black Friday. And of those planning to shop on Black Friday, only 23% will be strictly going to retail locations while another 55% will be shopping both in-store and online.