News

New York -- Multibillion dollar transactions drove U.S. retail and consumer deals during the first quarter of 2013, according to PwC US.

For the three month period ending March 31, 2013, there were a total of 27 deals in the retail and consumer sector with disclosed values greater than $50 million, accounting for $39.8 billion in deal value. Deal volume increased 59% from the 17 deals during the first quarter 2012, while deal value rose 590% from $5.8 billion in first quarter 2012.  

MINNEAPOLIS — Target will feature electronics picked by the editors of Wired magazine, under a deal between the two.

Target said the custom-curated assortment of products would include four products available for the first time at Target, including personal fitness, photography and digital music streaming.

Washington, D.C. -- Applied Predictive Technologies said Monday that AutoZone has extended its relationship with APT to license APT’s Test & Learn Management System on a long-term basis.

AutoZone will continue implementing the Test & Learn Management System to assess strategic marketing, capital expenditure, merchandising, labor, and store operations initiatives.

FORT WORTH, Texas — RadioShack is teaming up with Beats By Dr. Dre, the popular brand of headphones and HD sound systems, on a new advertising campaign featuring recording artist Robin Thicke's hit single "Blurred Lines" and the Beats by Dr. Dre Pill portable Bluetooth speaker.

The 30-second commercial ties into a special in-store offer that will allow RadioShack customers and music fans to download an exclusive remix of "Blurred Lines" with the purchase of any qualifying product.

New York -- Giving a much-needed boost to J.C. Penney Co., George Soros’ Soros Fund Management bought 17.4 million shares of the troubled retailer, according to a filing with the Securities and Exchange Commission.  

The stake, which was seen as a vote of confidence in returning CEO Mike Ullman, makes the billionaire investor the fourth-largest Penney shareholder, with a 7.9% stake.

MINNEAPOLIS — Supervalu has elected Rite Aid chairman, president and CEO John Standley and Cerberus COO and general counsel Mark A. Neporent to its board of directors.

New York -- A Friday report by CNBC said that Goldman Sachs has lined up a $1.75 billion financing package for J.C. Penney Co., backed by the retailer’s real estate and other assets.

The news, which has not yet been confirmed by Penney, comes a day after investor George Soros reported a 7.9% stake in the company.

Earlier this month, Penney borrowed $850 million from its $1.85 billion revolving credit facility to boost its cash position and buy inventory.

CINCINNATI — Crest and Oral-B Pro-Health have partnered with Texas A&M offensive tackle Luke Joeckel to promote good oral health and help others ‘Go Pro’ in their careers, with a donation to the international nonprofit organization Dress for Success.