January 20, 2021
In a letter to Staples owner Sycamore Partners, The ODP Corporation responded to Staples’ January 11 acquisition proposal under which it would acquire ODP for $40 per share in cash. As part of the deal, Staples would have ... Read more
January 13, 2021
On January 11, privately held Staples offered to buy ODP Corp., owner of Office Depot, for $2.10 billion in cash. The two companies previously tried to merge in both 1996 and 2014 and were rejected by the FTC as being antic ... Read more
January 6, 2021
Macys has notified employees at about 45 of its stores that they will close by the middle of this year. The closures are part of a previously announced plan by Macy’s to shut 125 locations by 2023, which the retailer o ... Read more
December 23, 2020
J.C. Penney announced it will close an additional 15 locations by the end of March. The Company exited bankruptcy earlier this month and closed more than 150 stores during the bankruptcy process. Click here to request a li ... Read more
December 16, 2020
November Retail Sales Report
November U.S. retail sales remained soft, falling 1.1% from the prior month, which was revised down to 0.1% or by 40 bps. Given that both September and October were revised down, we have increasing concern about the stre ... Read more
December 9, 2020
On December 10, Amazon will open a new 35,000 square-foot Amazon Fresh location in Naperville, IL. The store includes the Amazon Dash Cart, which enables customers to skip the checkout line, as well as new Alexa features to ... Read more
December 2, 2020
In the J.C. Penney bankruptcy case, the Court entered an order confirming the Plan of Reorganization. The Plan provides for a sale transaction under which an entity controlled by Brookfield Asset Management, Inc. and Simon Prope ... Read more
November 25, 2020
Yesterday, in the JC Penney bankruptcy case, the Court entered an order confirming the Plan of Reorganization. The Plan provides for a sale transaction under which an entity controlled by Brookfield Asset Management, Inc. and Simon Pr ... Read more
November 18, 2020
Chipotle Mexican Grill is opening its first digital-only restaurant, called the Chipotle Digital Kitchen, in Highland Falls, NY. Rather than the typical fast-casual service line, the Digital Kitchen will con ... Read more
November 11, 2020
J. C. Penney announced that the Bankruptcy Court approved the asset purchase agreement (APA) with Brookfield Asset Management, Inc., Simon Property Group, and the Company’s DIP and First Lien Lenders. The a ... Read more
