News

The Men’s Wearhouse expects to close on its acquisition for Jos. A. Bank in the next 30 days after the Federal Trade Commission determined the deal doesn’t violate antitrust laws.

Men's Wearhouse agreed to pay $65 a share for Jos. A. Bank earlier this year in a deal valued at $1.8 billion that will create a company with more than 1,700 stores and pro forma annual sales of $3.5 billion.

Pure Leaf Iced Tea, a product from the Pepsi Lipton Tea partnership, is expanding its partnership with television personality Gail Simmons to support the brand's "Share the Love of Leaves" program.

Fans of the beverage can pitch in to make a difference in their communities, and up to $150,000 will be donated to Wholesome Wave, a nonprofit that focuses on making fresh and healthy food affordable and accessible to all people.

Columbus, Ohio -- Express Inc. said on Thursday that its fiscal first-quarter profit fell to $5.08 million, from $32.4 million a year earlier. The company also announced it will close approximately 50 stores during the next 36 months, primarily at the end of their leases, even as it ramps up expansion of its of its new outlet-store concept. Express debuted its outlet format this past April.

Los Angeles – Guess on Thursday reported a first-quarter net loss of $2.1 million, compared with net earnings of $9.9 million in the year-ago period, as sales fell in North America and Europe.

"First quarter earnings results were slightly better than our expectations,” said Paul Marciano, CEO. “We delivered revenues within the range of our guidance and managed our expenses tightly.”

Sales fell 4.8% at $522.5 million, compared with $548.9 million in the prior year.

New York – Verizon Enterprise Solutions has recently introduced a location-based service that will allow retail organizations to offer real-time benefits to their customers, such as proximity-based specials and fraud detection. Verizon Location Data Services, powered by Locaid, is available now to enterprise retail clients in the U.S.

Research Triangle Park, N.C. - Toshiba Global Commerce Solutions is releasing the TCxGravity Link architecture. TCxGravity Link enables point of commerce, supporting retail from virtually any location and any device.

Hamilton, Bermuda -- It’s official: Signet Jewelers Ltd. has completed its acquisition of Zale Corporation for $21 per share in cash and a total consideration of $1.46 billion. Zale shareholders approved the acquisition by its longtime rival on May 29.

With the deal completed, Signet now operates over 3,600 locations under the retail banners of Kay, Jared, and Zales in the United States; H.Samuel and Ernest Jones in the United Kingdom; and People's in Canada. Signet also now operates kiosks in the United States under the Piercing Pagoda banner.

Canton, Mass. – The costs of converting its Casual Male XL banner to the DXL banner helped Destination XL swing to a net loss in the first quarter of fiscal 2014. The retailer reported a net loss of $3.5 million, compared to net income of $1 million last year.

For the quarter, total sales were $96.8 million, up 3% from $94 million in the first quarter of fiscal 2013. The increase in total sales was primarily due to an increase in same-store sales of 3.4%

New York -- Teen retailer Delia’s announced that its CFO, David Dick, has resigned. He will remain with the company through Aug. 1.

Emeryville, Calif. - Jamba, Inc., parent company of Jamba Juice, is partnering with DanceOn, a YouTube network exclusively dedicated to dance entertainment, to execute a digital campaign to inspire customers to participate in the "Blend in the Good" summer dance video contest. From now until Aug. 31, the online contest will encourage dance enthusiasts to submit unique videos.