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PwC: Retail mergers & acquisition activity hits $1B
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 Q3, accounting for $46.6 billion, compared to $28.4 billion in Q2. Deal volume went up 6% from Q2, but down 36% from Q3 2014.
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DSW elevates CIO to be new CEO
DSW Inc. has promoted its omnichannel retailing chief to be its new CEO as the company positions itself for long-term growth.
The company said Roger L. Rawlins, executive vice president and CIO, will succeed Michael R. MacDonald as CEO effective Jan. 1. MacDonald, who is retiring from DSW and from the board of directors, will remain with the company through the end of the year to help ensure a smooth transition. Rawlins will be appointed to the DSW board effective Jan. 1.

