Campbell Soup said it's considering selling its UK/Ireland businesses ("Our portfolio in the U.K. and Ireland includes some strong brands, but it is highly fragmented and has not met our company's growth expectations") and is interested in getting into Russia and wants to expand in China.
Jones Apparel Group may be up for sale soon, another victim of retail consolidation. "The merger last year of Federated Department Stores and May Department Stores, Jones's two biggest retail clients, threatens to cut into the company's sales. Federated accounts for 19 percent of the total Jones Apparel revenue, a high level of exposure should the department store cut back on orders." And Federated is likely to cut back, since private label is believed to be part of their plan. Possible buyers mentioned include VF Corporation, Oxford Industries, and private equity firms.
Michaels is reported to be up for sale and Sears may be interested. "Michaels, a company with more than 1,000 stores and a market capitalization of $4.61 billion, is steadily profitable and could provide Sears with "softer side" diversification..."
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