Less than 7 weeks after Jo.s A. Bank looked to acquire troubled apparel merchant Men’s Wearhouse, Men’s Wearhouse made an offer Tuesday to acquire Jos. A. Bank for $1.2 billion.
Williams-Sonoma Inc.’s direct-to-customer revenues for the third quarter were more than $511 million, a 14% increase compared to the same period in 2012. Direct made up 49% of all revenues for the comapny.
Third-quarter net sales at JCPenney were down 4.8%, but its ecommerce arm continues to shine. Online sales through JCP.com were $266 million for the quarter, up 24.5% versus the same period last year and reflecting sequential increases through the quarter.
China’s largest shopping event, Single’s Day, topped nearly $6 billion in sales in just 24-hours, making it the largest single shopping day event in the world.
Vitamin Shoppe has announced its preliminary results for the third quarter which ended on September 28. According to the results, total net sales this quarter increased by 14% and ecommerce sales increased by nearly 18% compared to 2012.
Closeout retailer Big Lots has decided to exit the wholesale business. The merchant will wind down operations of Big Lots Wholesale, Consolidated International, and Wisconsin Toy wholesale operations by the end of fiscal 2013.
The merger of equals proposed by OfficeMax and Office Depot would create a $17 billion office supplies empire.
Fifth & Pacific Companies said on Oct. 7 that it agreed to sell the intellectual property of the Juicy Couture brand to Authentic Brands Group for $195 million cash.
The Sears Holding Corporation, which operates Sears, Roebuck and Co., and Kmart, reported a 6% or $194 million loss in the second quarter. However, the online sales for both sears.com and kmart.com grew over 20%.
Dick’s Sporting Goods reported a lower-than-expected second quarter, which the sports retailer said was due in large part to “higher levels of precipitation and cooler temperatures.” Dick’s, however, did report that net sales for the second quarter increased 6.6% to $1.5 billion.