FINANCE

The nation's leading salon operator has entered into a major transaction that will reshape its portfolio.    Regis Corporation announced it has sold substantially all of its mall-based salon businesses in North America and entered into an agreement to sell substantially all of its International segment to The Beautiful Group, an affiliate of Regent, who will operate them as the company’s largest franchisee.  

Nordstrom may not be going private anytime soon.   Attempts by the Nordstrom family to take Nordstrom private have stalled over financing difficulties, reported CNBC. According to the report, banks have become cautious amid today's unstable retail climate.    The Nordstrom family group owns 31.2% of Nordstrom. In June, the family said it was exploring a possible buy-out.   

Gymboree has emerged from bankruptcy with a reduced footprint — and with new owners.   The children's apparel retailer announced Friday that it has successfully completed its financial restructuring and emerged from Chapter 11 as a new corporation under the name Gymboree Group. The company exited bankruptcy with a reorganization plan that includes a comprehensive recapitalization that will eliminate more than $900 billion in debt and a reduced store footprint.   

Pier 1 Imports Inc. reported a wider-than-expected loss in its second quarter and forecast a smaller per-share profit for the year that analysts had expected.   Pier 1 lost $7.8 million, or 10 cents a share, compared with a loss of $4 million, or 5 cents a share, in the year-ago quarter. Adjusted for one-time items, the company reported a loss of 5 cents a share in the quarter.   

The National Retail Federation and the Retail Industry Leaders Association are throwing its support behind the tax reform proposal released Wednesday by the Trump administration and congressional leadership.   According to the NRF, the measure could provide a major boost for the nation’s economy.  

Bass Pro Shops and Cabela's have officially joined forces — finally.   Bass Pro Shops' acquisition of Cabela’s Inc. is complete. The deal, in the works for more than a year, brings together two of the nation's leading outdoor gear and apparel retailers. Bass Pro, a leader in fishing, operates more than 100 retail stores, while Cabela's, which is heavy into hunting, counts 89 locations. Also part of the unified company, which will be privately held, is Bass Pro's White Marine Group boating division. 

In an important vote of confidence in its brand from key lenders, Toys "R" Us closed on crucial financing just in time for the holiday crunch.   The retailer announced that it has closed on $3.1 billion of financing facilities that will support its operations during its restructuring process. The financing was from a group of lenders led by JP Morgan.  

Target Corp. is raising the stakes in the battle for retail store talent — and giving its employees a holiday surprise in the process.   The discounter on Monday announced plans to raise its minimum hourly wage for all associates to $11 in October. It also pledged to increase the rate to $15 by the end of 2020. The retailer said the move will help it better recruit and retain top-quality staff and provide a better shopping experience for customers.