News

Sellers of opening price point apparel may find themselves at odds with outdoor lifestyle brand Patagonia, which has embarked on a coast-to-coast tour to encourage people to repair their clothes rather than buy new.

New York -- Investment firm TowerBrook Capital Partners is acquiring women’s apparel retailer J. Jill, which operates some 250 stores nationwide. TowerBrook is buying the company from Investment firm Arcapita and private equity firm Golden Gate Capital.  

In a statement, J. Jill CEO Paula Bennett noted that the retailer has just completed its best sales year in history and 12 quarters of consecutive growth.

Austin, Texas -- Christopher & Banks Corp. has selected Epicor Retail solutions (from Epicor Software Corp.) to streamline operations and support its omnichannel "customer first" strategy.

The retailer plans to leverage a broad solution set that includes Epicor QuantiSense retail business intelligence and analytics and Epicor ShopVisible order management and digital commerce solutions.

Camp Hill, Pa. – Rite Aid’s positive momentum continued in March, with the drugstore chain reporting a 4.3% increase in March overall same-store sales.

Total drugstore sales for the four-week period increased 4.1% to $2.026 billion, compared to $1.947 billion for the same period last year. Prescription sales accounted for 69.9% of sales.
 

New York -- Belk Inc., the largest family owned and operated department store chain in the United States, is exploring strategic alternatives. The news was first reported by Reuters on Thursday, and was confirmed later in the day by the retailer in a statement issued to media outlets.
 

Fort Worth, Texas - General Wireless Inc., an affiliate of Standard General LP, has officially received U.S. Bankruptcy Court approval to acquire the inventory and assume leases of 1,743 RadioShack stores following a bankruptcy auction. The company operates a long-term partnership with Sprint, and Sprint will provide services, products and accessories at some stores.

The stores will feature emerging technologies, as well as the traditional accessories and DIY for which RadioShack is known. Approximately 1,440 stores will be co-branded with Sprint.

Toano, Va. – Despite bad publicity from a March 2015 “60 Minutes” report alleging carcinogenic materials in the laminate of some Chinese hardwood it sells, Lumber Liquidators beat Wall Street sales estimates in first quarter 2015. In a sales update, Lumber Liquidators said sales were $260 million, an increase of 6% from first quarter 2014.

Boston - Gordon Brothers Group’s Valuation & Advisory Services Division and AccuVal-LiquiTec have entered into a merger to form Gordon Brothers-AccuVal.  The new group will operate as a wholly owned subsidiary of Gordon Brothers Group.

Baltimore - Retail was the largest vertical on the Millennial Media mobile advertising platform in 2014, followed by telecommunications and entertainment. According to the Millennial Media Scorecard for Mobile Advertising Reach and Targeting (S.M.A.R.T.) report, retail saw 49% year-over-year growth on the Millennial Media platform in 2014.

Seattle - Nordstrom Inc. has completed a new five-year, $800 million senior unsecured revolving credit facility. The new facility replaces an $800 million senior unsecured revolving credit facility that was scheduled to mature in March 2018.

The revolving credit facility may be used for general corporate purposes and is scheduled to mature in April 2020. At present, there are no outstanding borrowings under the revolver.