Mergers & Acquisitions

Wet Seal reported that net income for the fourth quarter ended Jan. 29 dropped to $5.3 million, compared with $74.2 million in the year-ago period. Last year’s fourth quarter included a noncash tax benefit of $64.7 million.

OneStopPlus.com announced its official partnership with Dress for Success, an international nonprofit organization that promotes the economic independence of disadvantaged women by providing professional attire, a network of support and the career development tools to help women thrive in work and in life.

BJ’s Wholesale Club shareholder Leonard Green & Partners said it’s considering making an offer for the U.S. membership warehouse chain, reviving its overtures after BJ’s began looking for suitors.

Gilt Groupe announced it's acquired leading home decor site Decorati, a destination site for upscale interior design products and services as well as a community for the display of designer portfolios.

Walgreens announced today that it plans to buy drugstore.com in a deal valued at $409 million. Investors in the online retailer will get $3.80 in cash for every share they own, which represents a 113 percent premium of the stock closing price on Wednesday.

VF Corp. plans to open 400 U.S. stores across its various brands during the next years. The company, whose stable of banners include Vans and The North Face, discussed its plans at an investor conference held recently in New York City. In addition to the U.S. expansion, VF is looking to open some 225 stores in Europe and 80 in Asia. The expansion is expected to bring the company’s global store count to 1,500 units.

Internet-based photo-sharing and printing company Shutterfly Inc. said it's buying personalized card and stationery seller Tiny Prints Inc. for $141 million in cash and 3.9 million shares. The transaction initially valued Tiny Prints at $333 million, Shutterfly said.

Shareholders of Jo-Ann Stores approved a $1.6 billion merger with an affiliate of Leonard Green & Partners. Of all the shares that were voted, more than 99 percent were in favor of the agreement. Those in favor of the pact represented 82 of outstanding shares. The company expects the deal to close Friday.

E-commerce in Canada generally sucks. The selection is crappier on the Canadian equivalent of U.S.-based stores, shipping is more expensive and the overall experience is much worse than in the U.S. And now, Zappos is shutting down completely in Canada.

It appears that talks between the Metropolitan Transportation Authority and Apple have broken down, resulting in Apple deciding not to open a new 16,000 square-foot retail store in one of New York’s most popular landmarks. Apple was in talks to secure retail space in New York’s Grand Central Terminal, opening a new Apple Store that would have been its biggest in terms of retail space.