Sales & Marketing

By Mitchell Harper, [email protected]

New York City -- Brazil jumped to first place in A.T. Kearney’s annual ranking of the top developing economies for global retail expansion, followed by Uruguay and Chile respectively.

The 10th annual Global Retail Development Index reflects the dramatic changes that have taken place in global markets, and the varying impacts they have had on different emerging economies. Notably, countries in South America, which fared well during the recession, posted an impressive 6% growth in 2010.

HINGHAM, Mass. — Talbots announced that it has named Lesli Gilbert SVP stores, effective June 27. In this role, Gilbert will be responsible for overseeing all aspects of Talbots core retail operations in the United States and Canada, as well as supporting the implementation of the company’s store reimage and rationalization programs. She will report directly to Trudy Sullivan, president and CEO of the Talbots.

New York City -- Two private equity firms are teaming up to make a bid to purchase BJ’s Wholesale Club, the New York Post reported.

Leonard Green & Partners and CVC Capital Partners are reportedly set to offer $2.8 billion to purchase the club retailer, according to the Post.

Rumors that BJ's Wholesale could be sold have been circulating for months. In March, the chain revealed in an SEC filing that it entered into a "confidentiality agreement" with Leonard Green to evaluate a possible purchase.

WASHINGTON — The retail industry won a big victory in Washington, D.C., as the Senate defeated an amendment that proposed to delay swipe-fee reform for another 12 months.

San Francisco -- At an investor conference on Thursday, Gap CEO Glenn Murphy announced the company will close 200 of its 900 U.S. namesake stores even as it expands its outlet presence.

While the company did not identify which stores will close, Gap said the 200 Gap brand closures over the next two years will be accompanied by a push to expand its Gap Outlet and Banana Republic factory chains.

Dayton, Ohio -- A report Wednesday by the Business Courier said that Petco has purchased a 29-store Complete Petmart chain, based in Dayton, Ohio.

Financial terms of the purchase were not disclosed. San Diego, Calif.-based Petco said all of the chain's 230 employees will become employees of privately held Petco Animal Supplies.

Petco said it will be making changes to the former Complete Petmart store layouts over the next few weeks.

New York City -- J. Crew Group reported Thursday that it lost $29.9 million in the fiscal third quarter, compared to a profit of $44.7 million in the year-ago period.

The apparel retailer said the loss was due to markdowns to clear out excess inventory and charges related to being acquired.

J. Crew went private in March in a $3 billion deal with two private-equity firms.

Revenue dropped 3% to $281.2 million. Same-store sales fell 3%.