USA: Belk Inc Near To Proffitt's, McRae's Deal?
Department store operator Belk Inc is nearing a deal to acquire Saks Inc's Proffitt's and McRae's chains for $600-$650 million, according to sources quoted by The Wall Street Journal.
An agreement for the 22 Proffitt's and 29 McRae's stores would allow Belk to grow its presence throughout the Southeast US, where it currently operates 229 stores.
Saks Inc is in the process of dividing up its businesses, and may soon announce a possible sale of its Northern US chains in addition to the Southeastern ones.
In January Belk announced a deal to acquire four Proffitt's stores in North Carolina.
Help test our new apparel sourcing tool.
For the past 20 years Wal-Mart has redefined the way most retailers and manufacturers across channels and categories have done business. Every apparel company has been affected thanks to the retail gi...
Department store operator Bon-Ton Stores Inc is considering forming a buyout consortium with private equity companies in order to acquire upmarket store chain company Saks Inc, according to a report f...
Saks Fifth Avenue Enterprises, a division of large-scale retailer Saks Incorporated, has announced plans to expand its existing 47,000 square foot Saks Fifth Avenue store in the Waterside Shops in Nap...
Department store operator Saks Inc is to close its private-label apparel business in order to focus on higher-priced designer brands....
Footwear retailer McRae Industries Inc has closed its acquisition of certain assets of boot maker Texas Boot Inc....
US retail group Saks Inc says it is carrying out a more intensive investigation than initially planned into vendor payments at its Saks Fifth Avenue division....
The following is a general roundup of apparel and shoe chains' May sales results. The list will be updated as new results become available....
The growing importance of Russia and the Middle East as major markets for UK fashion and accessories was highlighted at last week's presentation in London of the 2004 UK Fashion Export Awards, with Mu...
- "Power of the many" drives change at Otto Group
- Hard hit Turkish industry is not knocked out
- China leads US apparel sources with falling prices
- Vietnam grows share of US apparel imports in 2016
- US apparel sector braces for potential cost hikes
- US Q4 in brief – Foot Locker, Nordstrom, Carter's
- Inditex and H&M boycott Dhaka Apparel Summit
- Bangladesh crackdown has cost garment sector $100m
- JC Penney to close 140 stores amid lower sales
- Macy's will "do the right thing", says Lundgren
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective
- Technical textile markets: product developments and innovations, December 2016
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global market review of lingerie – forecasts to 2022