News

FREMONT, Calif. — Men's Wearhouse has signed a definitive agreement to acquire JA Holding, the parent company of American clothing brand Joseph Abboud, for approximately $97.5 million in cash, subject to certain adjustments. 

JA Holding is currently majority-owned by funds affiliated with J.W. Childs Associates, L.P. The transaction is expected to close in the third quarter of 2013.

Minneapolis -- Retailer promotion activity continued to grow with a 21.6% increase to more than 11.3 billion pages in the first half of 2013, with Walmart leading in retailer activity, according to Kantar Media’s Marx report. Following on Walmart’s heels were Walgreens, Target and Family Dollar.

SAN DIEGO — Petco is showing customers that it takes the “Happier People” part of its motto seriously with its latest exclusive product offering from Kusin & Kusin Ltd.: Reviver Pets Freshening Swipes, the first-ever reusable, dry-application freshening swipe for use on pets and their humans.

EL SEGUNDO, Calif. — Mattel reported net income of $73.3 million for the second quarter ended June 30, a 23% decrease from $96.2 million for the same period last year. 

The dip in profits reflects, in part, investments the company has made, such as its acquisition of HIT Entertainment, as it positions itself for future growth, according to chairman and CEO Bryan G. Stockton.

HOFFMAN ESTATES, Ill. — Kmart is kicking it old school this back-to-school season with its latest viral ad campaign, which features “yo momma” jokes. The campaign follows closely on the heels of the retailer’s similarly irreverent "Ship My Pants" and "Big Gas Savings" campaigns.

New York -- The National Football League has signed an exclusive agreement with Export Now to establish an official online store in China. Similar to its current U.S. e-commerce store, NFLShop.com, the China iteration will sell apparel, equipment and accessories branded with the logos of the NFL and its 32 teams over an e-commerce platform on China's Tmall.com business-to-consumer website.

The new online store is slated to debut in September, in time for the 2013 NFL season.

More of a mass market future could be in the cards for the Oreck Corporation following acquisition of its assets this week by TTI Group’s Royal Appliance subsidiary, which manufactures well known home improvement and housewares brands.

Oreck filed Chapter 11 bankruptcy earlier this year and this week the United States Bankruptcy Court for the Middle District of Tennessee approved the sale of its assets to Royal Appliance for a little more than $17 million and the assumption of certain debt obligations.

CITY OF COMMERCE, Calif. — 99 Cents Only Stores announced its financial results for the fourth quarter and full-year fiscal 2013 ended March 30, 2013.

The company's net sales increased 9.7% to $434.8 million for the fourth quarter of fiscal 2013 compared to $396.4 million for the fourth quarter of fiscal 2012. Same-store sales, calculated on a comparable 13-week period, increased 4.4%.