Content about Investment

April 10, 2014

EBay Inc. has reached an agreement with investor Carl Icahn, ending the proxy contest before the company’s upcoming annual meeting of stockholders. Icahn is withdrawing both his proposal to separate the company’s PayPal business and his two nominees to the company’s board of directors.

San Jose, Calif. – EBay Inc. has reached an agreement with investor Carl Icahn, ending the proxy contest before the company’s upcoming annual meeting of stockholders. Icahn is withdrawing both his proposal to separate the company’s PayPal business and his two nominees to the company’s board of directors.

March 18, 2014

Sprouts Farmers Market Inc. has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission in connection with the proposed sale in an underwritten offering of up to 15 million shares of its common stock by affiliates of Apollo Global Management LLC and certain other stockholders of the company.

Phoenix -- Sprouts Farmers Market Inc. has filed a Registration Statement on Form S-1 with the Securities and Exchange Commission in connection with the proposed sale in an underwritten offering of up to 15 million shares of its common stock by affiliates of Apollo Global Management LLC and certain other stockholders of the company. Sprouts is not selling any shares and will not receive any proceeds of this offering.

March 14, 2014

In addition to wanting to efficiently find and purchase products, online shoppers also want to have fun.

Austin, Texas – In addition to wanting to efficiently find and purchase products, online shoppers also want to have fun. According to a new survey from Compare Metrics and The E-tailing Group, 70% of shoppers want to go online to browse and have fun, but find current online shopping experiences uninspiring.

When asked about their discovery experiences on top retail sites, shoppers gave a “mixed bag” average rating of six-out-of-10. Other key takeaways from the study include:

March 7, 2014

Cerberus Capital Managament, which owns Albertsons, won the bid for Safeway.

Pleasanton, Calif. — Cerberus Capital Managament, which owns Albertsons, won the bid for Safeway.

Safeway and Albertsons on Thursday announced a definitive agreement under which AB Acquisition will acquire all outstanding shares of Safeway in a deal valued at more than $9.1 billion. The transaction is expected to close in the fourth quarter of this year.

The companies will operate independently until closing.

March 6, 2014

Private-equity firm Cerberus Capital Management has reached a preliminary agreement to buy Safeway Inc. for over $9 million, the Wall Street Journal reported.

New York -- Private-equity firm Cerberus Capital Management has reached a preliminary agreement to buy Safeway Inc. for over $9 million, the Wall Street Journal reported. The deal is subject to board approval.

As part of the deal, Cerberus would pay roughly $40 a share for Safeway.

The Kroger Co., which recently completed its acquisition of Harris Teeter, reportedly was also interested in making a bid for Safeway. Even if a deal is announced between Cerberus and Safeway, Kroger could still mount a bid.

March 4, 2014

By most accounts, 2013 was a banner year for IPOs. According to Renaissance Capital, a total of 222 companies went public in 2013, marking the best year for the IPO market since 2000. As we predicted in a previous article in Chain Store Age, the retail and consumer products industry played a key role in this IPO activity, accounting for 19 offerings and $8.3 billion in proceeds. This marked a notable increase from the number of offerings seen in 2012 (15) and 2011 (12), according to Renaissance Capital.

February 27, 2014

Goldman-Sachs Group, sole underwriter of a $400 million bridge loan supporting Jos. A. Bank’s tentative acquisition of Eddie Bauer, is reportedly postponing the loan.

Hampstead, Md. – Goldman-Sachs Group, sole underwriter of a $400 million bridge loan supporting Jos. A. Bank’s tentative acquisition of Eddie Bauer, is reportedly postponing the loan. According to the Wall Street Journal, Goldman Sachs had previously set a Feb. 27, 2014 deadline for investors to commit to purchasing portions of the loan, and has not yet set a new deadline.

February 26, 2014

The National Retail Federation is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number, as well as store their personal data in an encrypted microchip.

Washington, D.C. -- The National Retail Federation (NRF) is officially recognizing the financial institution JPMorgan Chase & Co. for its decision to issue Europay, Mastercard and Visa (EMV)-compliant payment cards that require customers to enter a personal identification number (PIN), as well as store their personal data in an encrypted microchip.

February 19, 2014

F.J. Benjamin Holdings Inc., a developer and manager of retail brands including Gap, Banana Republic and Guess, in Asia, has deployed the traffic intelligence application from Tyco Retail Solutions.

Singapore – F.J. Benjamin Holdings Inc., a developer and manager of retail brands including Gap, Banana Republic and Guess, in Asia, has deployed the traffic intelligence application from Tyco Retail Solutions. The company sought a clear understanding of how the differently branded stores’ locations compared with each other, as well as the ability to track shopper conversion rates within each store.  

February 7, 2014

Private equity firm KKR & Co. will acquire National Vision Inc. from Berkshire Partners.

New York -- Private equity firm KKR & Co. will acquire National Vision Inc. from Berkshire Partners.

National Vision, which focuses on low-cost glasses and contacts, operates more than 750 retail locations under names that include America's Best Contacts & Eyeglasses and Eyeglass World. It also has stores inside Wal-Mart Stores Inc, Fred Meyer, and military bases.

Terms of the deal were not disclosed. The management team of National Vision is expected to remain a significant investor in the company, KKR said.

January 8, 2014

Shoppers with registered devices and retailer mobile apps made more store visits during the 2013 holiday season than during the previous year’s holiday season.

Austin, Texas -- Shoppers with registered devices and retailer mobile apps made more store visits during the 2013 holiday season than during the previous year’s holiday season. According to data from mobile analytics provider Digby, mobile consumers made 29.6% more store visits during the 2013 holidays than in 2012.

December 27, 2013

Michaels Stores Inc., which has been privately held since 2006, is planning to launch an IPO in 2014.

Dallas – Michaels Stores Inc., which has been privately held since 2006, is planning to launch an IPO in 2014. According to a regulatory filing with the Securities and Exchange Commission (SEC), private equity owners Bain Capital Partners and Blackstone Group will retain control of the retailer after the public stock sale.

December 23, 2013

Edens Investment Trust has closed a $1.47 billion equity transaction composed of the $718 million sale of a 29% equity stake in the company and a $750 million equity commitment from the company’s institutional investors.

Columbia, S.C. — Edens Investment Trust has closed a $1.47 billion equity transaction composed of the $718 million sale of a 29% equity stake in the company and a $750 million equity commitment from the company’s institutional investors.

In the sales transaction, a Blackstone-sponsored real estate investment vehicle acquired a $718 million stake in Edens from the State of Michigan Retirement System.

December 20, 2013

The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners.

New York -- The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.

December 12, 2013

The recession took a major toll on the retail real estate sector but, despite waffling consumer confidence, the sector continues to improve. Retail now accounts for 19% of total U.S. investment volume year-to-date 2013.

The recession took a major toll on the retail real estate sector but, despite waffling consumer confidence, the sector continues to improve. Retail now accounts for 19% of total U.S. investment volume year-to-date 2013.

Retail experts from Jones Lang LaSalle predict four key forces that will drive an increase in the retail transaction market during 2014:

1. Strengthening Fundamentals  

December 5, 2013

Dollar General delivered some impressive financial results for the third quarter of fiscal 2013 as traffic improved and shoppers spent more per transaction on average.

Goodlettsville, Tenn. – Dollar General delivered some impressive financial results for the third quarter of fiscal 2013 as traffic improved and shoppers spent more per transaction on average. The retailer said it plans to open approximately 700 stores in fiscal 2014 and remodel or relocate approximately 525 locations, expanding store selling square footage by 6% to 7%.

Dollar General’s net income increased by a better-than-expected 14% to $237 million in the 2013 third quarter compared to $208 million in year-ago period.

November 20, 2013

Despite conventional industry wisdom, shoppers who use mobile devices for showrooming are almost twice as likely to purchase from the retailer in-store or online (38%) than buy elsewhere (21.6%).

Boston – Despite conventional industry wisdom, shoppers who use mobile devices for showrooming are almost twice as likely to purchase from the retailer in-store or online (38%) than buy elsewhere (21.6%). A new study from e-commerce technology provider SeeWhy, “Showrooming Realities: When Worlds Collide,” also shows that one third (33%) of more 60,000 consumers surveyed who owned a mobile device had used a device as part of their shopping process, and 12% do it routinely.

November 19, 2013

Sprouts Farmers Market has commenced an underwritten public offering of 22.5 million shares of its common stock by affiliates of Apollo Global Management and certain other stockholders of the company. The underwriters of the offering will have the option to purchase up to an additional 3.375 million shares of common stock from the selling stockholders.

Phoenix -- Sprouts Farmers Market has commenced an underwritten public offering of 22.5 million shares of its common stock by affiliates of Apollo Global Management and certain other stockholders of the company. The underwriters of the offering will have the option to purchase up to an additional 3.375 million shares of common stock from the selling stockholders.

November 19, 2013

Two-thirds of shoppers will spend the same amount of money (54%) or more money (12%) than they did last year. A new Consumer Reports poll also reveals that 33% will spend less money, similar to the 37% who said the same when asked last year.

Yonkers, N.Y. -- Two-thirds of shoppers will spend the same amount of money (54%) or more money (12%) than they did last year. A new Consumer Reports poll also reveals that 33% will spend less money, similar to the 37% who said the same when asked last year.

November 7, 2013

The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse.

Houston – The Eminence Capital hedge fund has reportedly purchased a 9.8% stake in Men’s Wearhouse. According to the New York Times, Eminence Capital wants Men’s Wearhouse to reconsider the $2.3 billion buyout offer it recently rejected from Jos. A. Bank.

Eminence reportedly believes Jos. A. Bank is willing to make a higher bid if Men’s Wearhouse will consider it. The fund manages about $4.5 billion. Neither Eminence nor Men’s Wearhouse has commented publicly on the purchase.

October 30, 2013

Nearly 90% of Americans repeatedly buy products retailers have on promotion, according to a new survey by Syngera, a global technology startup that uses big data to bring personalized digital experiences to the physical retail store.

New York -- Nearly 90% of Americans repeatedly buy products retailers have on promotion, according to a new survey by Syngera, a global technology startup that uses big data to bring personalized digital experiences to the physical retail store.  In the survey, 85% of respondents said they would return to brick-and-mortar stores when alerted to upcoming sales of previously purchased items.

October 23, 2013

Shoppers Drug Mart is teaming up with Beyond the Rack, the online shopping club, to provide Shoppers Optimum members with exclusive deals on designer fashions and accessories.

Toronto -- Shoppers Drug Mart is teaming up with Beyond the Rack, the online shopping club, to provide Shoppers Optimum members with exclusive deals on designer fashions and accessories.

Shoppers Optimum members are invited to join a new subscription-based retail website that offers exclusive savings and rewards on designer fashions and accessories. Those who register can receive special weekly product offers from Beyond the Rack while collecting 10 Optimum points on every dollar spent.

October 21, 2013

Almost seven-in-10 (66%) shoppers feel retailers will offer better prices and discounts this year due to the current state of the economy.

Los Angeles – Almost seven-in-10 (66%) shoppers feel retailers will offer better prices and discounts this year due to the current state of the economy. The new Winter Holiday Shopping Survey from PriceGrabber also shows that 21% of holiday shoppers said they started saving money before June, while the majority of survey respondents plan to start shopping for the holidays in October and November.

October 18, 2013

The board of directors of Safeway Inc. has increased the authorized level of the company's stock repurchase program by $2 billion.

Pleasanton, Calif. – The board of directors of Safeway Inc. has increased the authorized level of the company's stock repurchase program by $2 billion. Through the end of the third quarter of 2013, Safeway had approximately $800 million remaining under its previously authorized stock repurchase program.

October 17, 2013

Merlin Entertainments has reportedly broken ground on a new Legoland Discovery Center location at the 50-acre, mixed-use Assembly Row development in Somerville, Mass.

Somerville, Mass. – Merlin Entertainments has reportedly broken ground on a new Legoland Discovery Center location at the 50-acre, mixed-use Assembly Row development in Somerville, Mass. According to the Boston Globe, the 44,000-sq.-ft. store will open in May 2014.

The store will be the only Legoland location in New England and employ about 100 people. Other retailers planning to open stores at Assembly Row include Nike, Brooks Brothers, Chico’s, and J.P. Licks.