Wednesday, May 13, 2015

National News

According to Retail Metrics, comp store sales for the US retail sector as a whole edged down 0.3%. Among retailers reporting monthly comp-store sales, L Brands was down 1.0%, Gap was down 12.0%, Rite Aid was up 3.0%, and Costco was flat. See our sales report below...Commercial real estate services firm DTZ, backed by private-equity firm TPG, has entered into a deal to acquire Cushman & Wakefield Inc. for $2 billion. The new company will have 43,000 employees, annual revenues of more than $5.5 billion and manage more than 4 billion square feet of real estate globally.  It will operate under the Cushman & Wakefield name. The transaction, which is subject to regulatory approval, is expected to close in the fourth quarter.

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