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Gymboree to be bought by Bain Capital for about $1.8 billion
Bloomberg    Share   Share on FacebookTwitterShare on LinkedinE-mail article
Gymboree Corp., the San Francisco- based children's clothing retailer, agreed to be bought by Bain Capital LLC for about $1.8 billion, giving the buyout firm a business whose free cash flow has tripled since 2008. The acquisition price is $65.40 a share, the companies said in a statement. That's 57 percent more than Gymboree's closing price on Sept. 30, when reports of a takeover surfaced. Gymboree may seek acquisition proposals from third parties through Nov. 20, according to the statement. More

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PRSM    Share    Share on FacebookTwitterShare on LinkedinE-mail article
PRSM LIVE CANADA brings PRSM members together over lunch to connect and engage in conversation surrounding Retail Facility Management Credibility. PRSM LIVE is a series of professional development programs offered by the Professional Retail Store Maintenance Association in select cities to connect you to PRSM without leaving your hometown. This is an exceptional opportunity to introduce yourself to other retail facilities professionals you may not know while saying hello to other colleagues you know well. More

Dollar Tree to buy Dollar Giant stores for $52 million
The Associated Press via Bloomberg Businessweek    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Dollar Tree Inc. is buying Canada's Dollar Giant Store Ltd. for about $52 million in cash. The low-priced retailer said that the deal includes 84 Dollar Giant Stores, including substantially all assets, inventory, leasehold rights and intellectual property. More

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Gap report: Focused on international, online growth
Retailing Today    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Gap announced that a three-to-five year strategic plan that calls for expansion into China and Italy this year, as well as online growth initiatives will boost revenues significantly. The retailer said it expects international and online sales to grow to 25 percent of its revenue by fiscal 2013, compared with 12 percent of revenue in 2009. More

Fashion chain slips into Sears
Los Angeles Business Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Forever 21 started life a quarter-century ago in a little 900-square-foot store a Los Angeles suburb. But since then, the downtown L.A. fast-fashion retailer has moved into some huge spaces, even swallowing up leases of bankrupt multilevel department stores 200 times the size of its first shop.Now it's doing something else no other chain of its type has done: It's taking a big chunk of space in an existing Sears store. More

Macy's begins solar rooftop project
The Cincinnati Enquirer    Share    Share on FacebookTwitterShare on LinkedinE-mail
Cincinnati-based Macy's Inc. said it has begun construction on what it believes is the largest solar rooftop collection system in the United States at its Goodyear, Ariz., fulfillment center. The retailer said the 3.5 megawatt solar power system, designed and installed by SunPower, is expected to provide the equivalent of 70 percent of the 600,000 square-foot facility's electric demand. More

Wal-Mart sees small stores in big cities
The Wall Street Journal    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Wal-Mart Stores Inc. is planning to open dozens of small stores in the nation's cities, in an effort to push back against the dollar chains and other competitors nibbling at its customers. The prospect of Wal-Mart stores dotting America's biggest cities would change the urban landscape and the profile of the world's largest retailer, known for its blocky suburban edifices stocked with low-cost goods. The new stores, roughly a quarter to a third the size of a supercenter, largely will sell groceries. More

Office Depot up on talks to sell Israeli stores
The Associated Press via ABC News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Shares of Office Depot Inc. moved higher in trading after the Boca Raton, Fla.-based retailer said it is in negotiations to sell its Office Depot Israel Ltd. business to New Hamashbir Lazarchan Ltd. for $47 million, minus the stores' outstanding debt. Office Depot Israel currently operates 46 stores in the Mideast nation. Retail sales account about 90 percent of the Israeli business' sales. The deal would also include licensing of certain trade names and intellectual property rights. More

General Growth proceeds with stock offering plan
Bloomberg News via Providence Business News    Share    Share on FacebookTwitterShare on LinkedinE-mail article
General Growth Properties Inc., the parent company of Providence Place mall and the second-largest mall owner in the U.S., won court approval to proceed with its plan for a $2 billion stock offering after it emerges from bankruptcy. U.S. Bankruptcy Judge Allan Gropper in Manhattan approved an underwriting agreement that will allow General Growth to replace financing from a group of investors that has agreed to help fund its bankruptcy restructuring. More

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Ace Hardware crafts stand-alone international business
Crain's Chicago Business    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Ace Hardware Corp. plans to spin off its international division at the beginning of 2011 in an effort to help foster growth overseas. The Oak Brook, Ill.-based cooperative retail chain told store owners it wants to make its international unit a stand-alone subsidiary with its own management team and board of directors. More

Halloween pop-up stores jump 15 percent
Chicago Sun-Times    Share    Share on FacebookTwitterShare on LinkedinE-mail article
Boo! Retailers are setting up pop-up stores — 15,000 nationwide, or 15 percent more than last year — to sell Halloween candy, decorations and costumes, says research firm IBISWorld. This year's goblin's day falls on a Sunday, so retailers are hoping that children and adults will have more time to party and trick-or-treat, boosting sales of Halloween goods by 3.9 percent from last year, to a sweet $6.2 billion, the National Retail Federation forecasts. More
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