News

New York -- U.S. retail and consumer (R&C) total transaction value for 2014 hit a five-year high and surpassed the $100 billion mark for the second year in a row, according to PwC’s U.S. retail and consumer deals insights 2014 Year in Review and 2015 Outlook report.

New York -- U.S. retailers seeking to grow business with online shoppers across country borders should look to Canada, according to a report by Borderfree, a provider of international cross-border ecommerce solutions.

Nashville, Tenn. -- It’s a changing of the guard at Kirkland's. Following its successful holiday performance, the home goods company announced that current president and COO Mike Madden will step into the CEO role, effective Feb. 8. He succeeds Robert Alderson, who will remain on the company’s board, which is being expanded to accommodate his addition.

Boston -- Three of the nation’s largest asset disposition companies were the successful bidders in the race to liquidate inventory at Target’s 133 Canadian locations.
 
Gordon Brothers Group, Hilco Global (through its Canadian division  Merchant Retail Solutions) and affiliates of Great American Group secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations, with store closing beginning February 5, 2015.
 

Columbus, Ohio -- L Brands shareholders will receive a post-holiday gift in the way of a $2 a share special dividend. The news comes as the retailer, which also increased its ordinary annual dividend by 47% to $2 a share from $1.36 a share, reported significantly better than expected profits for its fourth quarter.

L Brands, whose brands include Victoria’s Secret, Bath & Body Works and La Senza, said same-store sales increased 7% and total sales for the four-week period ended Jan. 31 increased 7% to $783.1 million.

It’s the end of an era that never really began for Target Canada as three of the biggest names in the asset disposition world begin store closing sales at Target’s 133 Canadian locations.   Gordon Brothers Group, Hilco Global and Great American Group were the successful bidders at a Jan. 27 auction and secured approval from Target Canada and an order from a Canadian court to manage the store closing process for Target’s 133 Canadian locations.  

Steinmart plans to pay a $5 special dividend thanks to the availability of low cost financing that allowed the company to more than double the size of its credit facility.

Shareholders of Victoria’s Secret parent company L Brands received an early Valentine’s Day gift after the company said fourth quarter profits were much better than expected and it would pay a $2 a share special dividend.

The company said same store sales increased 7% and total sales for the four week period ended Jan. 31 increased 7% to $783.1 million. Sales for the full fourth quarter period also increased 7% to slightly more than $4 billion while same store sales grew 6%.

It was a happy holiday in the home décor category and Kirkland’s is celebrating with the appointment of a new CEO and an elevated profit forecast.

Sales of an exclusive holiday cookbook will allow Dillard’s to donate more than $900,000 to of Ronald McDonald House Charities.   For the seventh year in a row, Dillard's offered for sale a special edition of the Southern Living Christmas Cookbook to benefit RMHC.