Men’s Wearhouse Hires Advisory Firm for Jos. A. Bank Integration
AlixPartners has been chosen to lead the integration of Jos. A. Bank into The Men’s Wearhouse.
M&A and Financial
Spreadshirt’s Revenue and Orders Grow Globally
Spreadshirt’s increases can be attributed to platform developments, like the touch-optimized t-shirt designer, and other features which were part of a 2m Euro platform investment.
Winter Weather to Blame for FedEx Third Quarter Earnings
FedEx said this week that its third quarter earnings took a direct hit thanks, in most part, to severe weather during the holiday shopping season.
Destination XL’s 4Q Ecommerce Sales Rise 6.1%
But Destination XL’s overall sales were down for the fourth quarter. Total sales were $108.5 million compared with $114.9 million in the fourth quarter of fiscal 2012.
Men’s Wearhouse To Acquire Jos. A. Bank for $1.8 Billion
Men’s Wearhouse and Jos. A. Bank announced that the merchants have entered into a definitive agreement in which Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $1.8 billion. Together, Men’s Wearhouse and Jos. A. Bank will have more than 1,700 stores in the U.S., with approximately 23,000 employees and sales of $3.5 billion on a pro forma basis.
Target CIO Resigns after Holiday Security Breach
Target has announced that Beth Jacob, chief information officer, is resigning from her position as part of an “overhaul” of the retailer’s information security and compliance structure. Jacob’s resignation is effective March 5.
RadioShack Announces 1,100 Store Closings and Q4 Sales Decline
RadioShack announced this week that it plans to close 1,100 under performing stores as well as huge losses in its fourth quarter earnings. According to its Q4 financials, the electronics retailer reported that net sales and operating revenues for the quarter decreased to $935.4 million from $1.17 billion in the same quarter last year
Best Buy’s 4Q Ecommerce Sales Increase 25.8%
It was a good quarter for online sales at Best Buy. The company reported that comparable online sales of $1.57 billion saw an increase of 25.8% over 2012, according to its earnings release.
Chico’s FAS 4Q Net Sales Down 6.4%, FY Sales Flat
Chico’s FAS ended its fiscal year with flat net sales, and was hurt by a 6.4% decrease in fourth-quarter sales, the retailer said in its earnings release.
Sears Holdings’ FY Revenues Down $1.7 Billion
Sears Holdings’ domestic comparable store sales declined 3.8%, comprised of decreases of 3.6% at Kmart and 4.1% at Sears Domestic in fiscal year 2013. Here’s a full look at Sears Holdings’ full-year financial results.