News

New York -- Target and TJX Cos. both reported better-than-expected results in May, with a 4.4% and an 8% increase in same-store sales, respectively. Wall Street expected Target same-store sales to be up 3.5% in May and forecasted TJX sales to rise 5.3%.

Hingham, Mass. -- After announcing that talks between private equity firm Sycamore Partners and Talbots had ended, then issuing an update that negotiations had resumed but without exclusivity, the pair said Thursday that a deal has been struck.

Sycamore Partners is acquiring the apparel retailer for approximately $193.3 million, according to Thursday’s announcement.

Including debt, the deal is valued at close to $369 million.

Seattle -- Nordstrom and GQ, the popular men’s general interest magazine, announced a multimedia strategy designed to integrate GQ editorial into the Nordstrom online shopping experience.

Nordstrom will host an online store and will feature "GQ Selects," a selection of men's products handpicked from the pages of the magazine by the editors of GQ. Beginning with the July issue, the items will be designated in-book, compiled on GQ.com and available for purchase on NordstromMen.com.

Washington, D.C. -- Consumers are using Pinterest to engage with retailers more than Facebook or Twitter, according to a survey released Thursday by Shop.org, comScore and The Partnering Group.

Additionally, the “2012 Social and Mobile Commerce Study” discovered that one third of smartphone owners who shop online share their location with a retailer.

BENTONVILLE, Ark. — Sam's Club is marking Men's Health Month in June by offering free men's health screenings at its pharmacies.

Toys“R”Us chairman and CEO Jerry Storch and Nordstrom Direct president Jamie Nordstrom are among the featured speakers at the Shop.org annual summit.

The annual event organized by Shop.org, a division of the National Retail Federation, will be held September 10 to 12 and the Colorado Convention Center and is billed as the premier gathering for retail e-commerce, digital and multichannel retailers.

Target couldn’t have written a better script for last weekend’s Indianapolis 500, won by Dario Franchitti in the number 50 Target Honda.

Fans of the IndyCar racing series know that Franchitti’s Honda normally bears the number 10, but in recognition of Target’s golden anniversary the car and his uniform bore the number 50. Franchitti had won the Indy 500 on two prior occasions so the fact that he was running well throughout the day was no surprise.

PHILADELPHIA — Pep Boys has put an end to the proposed merger between itself and investment firm The Gores Group.

The potential merger was first announced on Jan. 30, and The Gores Group has agreed to pay Pep Boys a fee of $50 million and to reimburse Pep Boys for certain merger-related expenses. The special meeting of Pep Boys’ shareholders, which was scheduled to be held on May 30, has been canceled.