Mergers & Acquisitions

Supervalu to Close 29 Stores, Cut 350 Corporate Jobs
January 31, 2011

Grocery retailer Supervalu, which operates more than 4,200 stores across the country, will shutter 29 underperforming locations by the end of its fiscal year, which will be in early March. Fifteen of the targeted stores are located in the Northeast. In addition, the company plans to cut 350 corporate jobs by the end of May, in addition to 300 corporate positions it eliminated in 2010.

Oh Canada: Wal-Mart Set to Expand
January 27, 2011

Wal-Mart said it will be spending half a billion dollars this year to expand in Canada, the latest example ot a retail rush north to take advantage of Canada's relatively robust economy and eager-to-spend consumers. 

Borders to Sell Calendar Business
January 25, 2011

Borders is selling its Day by Day Calendar business as it looks to shore up cash amid its liquidity crisis. The bookseller confirmed with TheStreet that it entered into an agreement with Calendar Holdings to divest its kiosk business.

J.C. Penney to Stop Sending Catalogs
January 24, 2011

J.C. Penney announced a series of actions designed to build on its accomplishments and focus on its highest potential growth opportunities. They include the wind down of its catalog and outlet operations, closing certain underperforming store locations, and streamlining its call center operations.

Amazon Buys Netflix Rival
January 21, 2011

Amazon is acquiring the European subscription entertainment service LOVEFILM International — dubbed as Europe's version of Netflix — through a deal that values the company at a reported $550 million.

Sales Up For Dover Saddlery
January 21, 2011

Littleton-based equestrian retailer Dover Saddlery Inc. saw total revenues increase 6.1 percent in the fourth quarter of 2010, according to preliminary unaudited numbers, the company said.

41% of Retailers Plan Store Expansions in 2011, NRF Survey Finds
January 21, 2011

Retailers in 2011 will be intent on actively growing their businesses and improving customer insight capabilities, in addition to continuing efforts begun during the economic downturn to stabilize operating costs and focus on financial discipline, according to a report from the National Retail Federation’s research and education arm, the NRF Foundation, and KPMG LLP, the U.S. audit, tax and advisory firm.

hhgregg to Open Stores in Chicago, Miami, Pittsburgh
January 20, 2011

"Our new store productivity remains strong, and we continue to identify and secure exciting new locations, which continue to move us another step closer toward our goal of becoming a national retailer," said Dennis May, president and CEO of hhgregg.

Retailers' Weekly Sales Gain Slows
January 20, 2011

Chain-store sales for the week ended Jan. 15 rose 1.4 percent from the year-earlier period, their smallest gain since May 22, according to a survey released by the International Council of Shopping Centers and Goldman Sachs.