Back in March, Bloomberg ran a story headlined, “Private Equity’s $36 Billion Retail Bet Not Going So Well.” In a nutshell, this piece catalogued how investment firms like Bain Capital had poured large amounts of money into brick-and-mortar chains in the run-up to the recession, only to be met with lackluster results.
Toys "R" Us has appointed Antonio Urcelay, 61, the head of its European operations, as interim CEO, according to a filing the retailer made on Monday with the Securities and Exchange commission, The Record reported.
Walgreen Co. said it will pay $6.7 billion for a 45% stake in European health and beauty retailer Alliance Boots, which is based in Nottingham, England, with an option to buy the rest of the company in about three years.
New York private-equity firm Kohlberg Kravis Roberts & Co. LP said Tuesday that it plans to acquire a majority stake in Academy Sports + Outdoors, the Katy (Houston), Texas-based privately held sporting goods retailer with 131 locations throughout the Southeast.
Taxes related to Safeway's effort to pay down debt reduced its first-quarter net income, but the company's adjusted results beat Wall Street's expectations as its revenue rose, the Associated Press reported.