News

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.

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. 

A private equity group better known for investing in established companies is creating a new dollar store brand after acquiring 330 Family Dollar stores from Dollar Tree.

Dollar Tree acquired Family Dollar earlier this year and to satisfy federal regulators, the company agreed to divest 330 Family Dollar stores. The acquiring company is a newly created portfolio company of the private equity firm Sycamore Partners called Dollar Express.

A major national retailer is the latest chain to start offering same-day delivery in a large metropolitan area.

According to Re/code, Best Buy is partnering with third-party delivery service Deliv to offer customers in the San Francisco area, including San Jose, same-day delivery of online orders. The official rollout follows a recent pilot of the service Best Buy conducted with Deliv in the greater San Francisco area.

The Finish Line Inc. is continuing its efforts to become an omnichannel lifestyle experience with a new social media campaign.

For the second year in a row, Finish Line customers will be able to demonstrate their basketball skills via social media platforms by using the hashtag #theFundamentals on Twitter and Instagram, or submitting them via Snapchat. The digital entries will be judged by a group of NBA athletes.

The New York Times is reporting that Texas grocery chain HEB is planning on distributing some 15% of the company’s shares to employees who are over 21 and have worked at least 1,000 hours in a calendar year. “So many in retail are competing in the race to the bottom, and people are the largest cost. So it seems logical to cut people, and lots of folks are doing it,” H-E-B president and CEO Craig Boyan said. “We think that’s a trap. We believe the race for the bottom cheapens the American experience.

Amazon.com is not waiting until Black Friday or even Thanksgiving Week to launch its deepest holiday discounts.

The e-commerce giant announced Monday that its Black Friday Deals store is now officially open. In addition, this year Prime members can access more than 30,000 Lightning Deals 30 minutes early, giving Prime members special, early access to deals.

Photo: Courtesy of Kmart/Wendy Williams poses during recent a Wendy Williams Show taping at Kmart where the retailer announced the Bluelight Specials are back.

Kmart is hoping that bringing back a 50-year-old marketing strategy will ignite a new sales push online and in stores.

eBay is targeting consumers across digital and physical channels this holiday season with a new online holiday hub and even in-person selling stations.

Through Jan. 1, 2016, eBay is running a multifaceted holiday campaign called “Wish Bigger.” A central feature is a holiday-specific shopping site, eBay.com/holidays, which will offer features such as a soon-to-launch holiday heat map that will track what eBay customers are wishing and shopping for coast-to-coast on a weekly basis.

Exceptional customer service continues to drive growth at Publix Supermarkets, which had strong earnings and same-store sales growth in its third quarter.

Publix sales for the third quarter 2015 totaled $7.8 billion, representing a 6.3% increase from last year. Comparable-store sales for the third quarter of 2015 increased 4.2%.