Mergers & Acquisitions

While many other retailers are increasing the number of outlet stores they operate, J.C. Penney is getting out of the business altogether. The retailer has reached a deal to sell 19 of its outlet stores to SB Capital. The department store chain made the decision to get out of operating the stores at the same time it is closing its print catalog business.

Liz Claiborne announced that it's agreed to sell its global Mexx business to a joint venture in exchange for 18.75 percent of the common equity of the joint venture and total cash consideration of $85 million, which includes $60 million of ABL facility debt that is expected to be assumed by the joint venture and refinanced at closing.

The Finish Line has invested $8.5 million to acquire an 18-store chain of specialty running shops with locations in eight states.

GNC announced it's agreed to acquire LuckyVitamin.com, an online retailer of a wide range of nationally branded nutritional supplements with a diverse selection of wellness-oriented products. Terms of the deal weren't disclosed.

Morton Pharmacy sold all but one of its 13 retail pharmacies to Walgreens. The family-owned operation had been in business for more than 79 years. Its annual revenues were about $50 million.

Chico's FAS announced today a definitive agreement to acquire Boston Proper, a privately held direct-to-consumer retailer of distinctive women's apparel and accessories.

eBay completed its previously announced acquisition of Zong, a provider of payments through mobile carrier billing. eBay acquired the company to add to PayPal's assets in mobile payments and digital goods. Zong is now part of PayPal.

Two of the hottest trends in retail — the rise of value shopping and the use of ambient scent to create a more pleasant atmosphere for customers — are coming together at over 40 stores in southeastern Wisconsin and metropolitan Chicago. But the retailer now rolling out Prolitec, Inc.'s ambient-scenting technologies is neither a fashion tenant at the mall nor a big-box warehouse out on the strip — it's a 92-year-old, nonprofit organization, Goodwill Industries of Southeastern Wisconsin, Inc.

Fits.me Virtual Fitting Room, the bio-robotic virtual fitting room for e-commerce apparel websites, is bringing its customer service to internet shoppers in the U.S. for the first time. PARK & BOND, the luxury retail site for men by Gilt Groupe, is the first US-based website to incorporate Fits.me's FitBot mannequins.

Luxottica Group announced that it's entered into an agreement to acquire Erroca, which operates more than 60 sunglass stores in Israel. Over time, the stores will be rebranded under the Sunglass Hut brand. The deal marks Luxottica's entry into the Israeli sunglass specialty store market, although the company already has a solid presence in the country through its wholesale division.