Sales & Marketing

Ann Arbor, Mich. -- Borders Group announced Thursday that it has agreed to sell itself to Najafi Cos. for $215 million. The deal is subject to court approval.

Najafi Cos. is a Phoenix-based private investment company which owns the Book-of-the-Month Club.

The "stalking horse" bid will open an auction for the company and its assets, so a higher bid is possible, according to reports.

In his newest column, Retail Rap with Jeff Green, Chain Store Age columnist Green examines the early uptick in medical users in retail centers and questions why the trend has apparently stalled.

Click here to read his latest editorial. 

Houston -- Greensboro, N.C.-based Tanger Factory Outlet Centers and Indianapolis-based Simon Property Group announced Thursday that they have entered into a 50/50 joint venture agreement to develop a Tanger Outlet Center south of Houston, in Texas City.

Phase I is slated for 350,000 sq. ft. of brand name and designer outlet stores; the 55-acre site is expected to accommodate future expansion of about 120,000 sq. ft.

Tenant announcements and ground breaking ceremonies are slated for July; the center is scheduled to open in summer 2012.

Lewisville, Texas -- Consumer deal-seeking is here to stay, according to a new report by Parago. The study, Shopper Trend Report: Values, Deals & How Far They’re Willing To Go To Get Them, provides a comprehensive look at the entire deal landscape, from traditional clipped coupons to mobile applications. It finds that deal-finding has evolved from a necessity for cash-strapped consumers to an attractive, trendy activity that all shoppers now pursue. It also examines how these trends will likely continue to affect shopper behavior.

AMSTERDAM — Ahold has tapped retail veteran James McCann to serve in the newly created role of chief commercial development officer.

New York City -- Centro Properties Group announced the recent lease execution for two Ulta stores; an 11,000-sq.-ft. store will be joining Lakes Crossing, located in Muskegon, Mich., and a 10,895-sq.-ft. store will open at Florence Square, directly across from Florence Mall in Florence, Ky.

New York City-based Centro Properties Group owns both shopping centers.
 

Sam’s Club is at it again this weekend. Attempting to persuade members to upgrade to the $100 Plus membership level by dangling the additional savings possible via the eValues program in front of them during a key seasonal sales occasion. The program is innovative and convenient in that money-saving offers are loaded directly onto members’ cards, but encouraging upgrade activity in the current economic climate is quite challenging, even when the immediate savings available via the eValues program more than offset the additional membership fee.

San Francisco -- Gap announced Wednesday that it will open its first Gap store in Egypt this July, and its first Gap and Banana Republic stores in Morocco in October.

The move is part of the retailer’s global expansion strategy that calls for doubling its franchise stores to 400 by fiscal year 2014.

Gap started shipping to Egypt, Morocco and South Africa in 2010, but these stores are the first on the continent.