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Jos. A. Bank buying Eddie Bauer in $850M deal

Jos. A. Bank buying Eddie Bauer in $850M deal

HAMPSTEAD, Md. -- Jos. A. Bank Clothiers Inc. is buying the parent company of Eddie Bauer in a cash-and-stock deal valued at $850 million.

The men's clothing company, which itself is being pursued by Men's Wearhouse Inc., made the deal with Everest Topco LLC to buy Everest Holdings LLC, Eddie Bauer's parent company.

Jos. A. Bank said Friday that the transaction includes $564 million in cash and about 4.7 million new shares of Jos. A. Bank stock issued to Everest Topco at $56 per share.

Everest Topco may also earn up to an additional $50 million in cash based on Eddie Bauer's adjusted earnings for fiscal 2014.

Jos. A. Bank may end the deal if it receives an acquisition offer for its company that it feels is superior.

RadioShack to close 500 stores

(ATLANTA BUSINESS CHRONICLE) -- RadioShack scored big points with its comedic 1980s-themed Super Bowl ad that poked fun at the retailer's outdated image, but the mood was more somber on Tuesday when news broke that around 500 stores will close in the coming months.

WATCH | RadioShack Super Bowl ad

The Wall Street Journal says it isn't clear which of the Fort Worth, Texas-based company's 4,300 stores will be closed or when.

The closings are part of a restructuring. Says the WSJ, "The retailer has struggled to reverse a string of losses deepened by a sales strategy focused around smartphones, which failed to improve revenue over the past two years."

Ga.'s largest movie studio could open by summer

GWINNETT COUNTY, Ga. -- Jacoby Development says it could have Georgia's largest movie studio open by this summer in Gwinnett County.

PHOTOS | Movies filmed in the Atlanta area

Company President Scott Condra told Gwinnett Village Community Improvement District leaders on Thursday that the first phase of the $1 billion investment -- opening up seven sound stages in a building once used to manufacture fiber optic cables -- could be complete three to six months after the April closing with OFS.

The project, at the OFS site along Interstate 85, has the potential to transform the Jimmy Carter Boulevard corridor.

Bowling for Education fundraiser a striking success

Bowling for Education fundraiser a striking success

ATLANTA -- The lanes at 300 Atlanta were packed with nearly 35 Atlanta-area companies for the fifth annual “Bowling For Education” fundraiser, held on Thursday, Nov. 5. The event, which supports the Simon Youth Foundation, raised a record-breaking $112,250 this year, exceeding the initial fundraising goal of $100,000. 

“We could not be more thrilled about the success of this year’s Bowling for Education event,” said Leslie Bland, co-chair of Bowling for Education in Atlanta and Director of Marketing and Business Development for Phipps Plaza. “We’re so grateful for the incredible enthusiasm from our Simon family and for the generous donations from all our committed partners. The immense support for this annual event has helped Simon Youth Foundation provide more and more educational opportunities for our future Georgia leaders.”

Grocery is the #1 holiday purchase! Research shows where consumers are spending this holiday season

Grocery is the #1 holiday purchase! Research shows where consumers are spending this holiday season

With all the hype and Black Friday campouts at Best Buys and Toys R Us, you'd guess that the majority of holiday shopping budgets go to purchases like electronics, toys and clothing. But according to new research, the biggest share what comes out of your holiday wallet actually goes to ... groceries and restaurants.

New data from Card-Linked Marketing leader Cardlytics -- collected from millions of U.S. households over the past two years -- shows what consumers actually spend their money on during the holiday season.  When it comes to holiday shopping Americans are spending 24% of their budget on groceries followed by restaurants and apparel.  Toy purchases are actually at the bottom of the list.

The Top 10 Share of Wallet (see link/attached for graphics and pie charts for 2011 and 2012 holiday spending):

1. Groceries - 24%

LittlePINKBook.com invites women to join conversation Nov. 12 with top female executives

LittlePINKBook.com invites women to join conversation Nov. 12 with top female executives

ATLANTA -- LittlePINKBook.com, America’s No. 1 digital platform for career women, will host its 9th Annual Fall Empowerment Event on Tuesday, Nov. 12. Top-level female executives will share their experiences with rising through the corporate ranks to an audience of like-minded, successful women motivated to get there.  

Executives on the panel will be asked questions from the event’s moderator, Carol Costello, anchor at CNN Newsroom, Little PINK Book’s CEO and Founding Editor Cynthia Good as well as attendees. Panelists include:

Regional mall Sugarloaf Mills battles debt

ATLANTA -- Another suburban Atlanta mall is battling debt problems.

Sugarloaf Mills, a regional mall at Interstate 85 and Sugarloaf Parkway in Gwinnett County, has been transferred to mortgage servicing, according to Fitch Ratings.

A $130 million mortgage tied to the mall was transferred Oct. 4 to CWCapital Asset Management. The loan was facing maturity default, according to Fitch.

Sugarloaf Mills had its roots in the big mall boom of the early 2000s, when it opened as Discover Mills, the result of a naming rights sponsorship with Discover Card.

That agreement ended last year.

It counts by Bass Pro Shops among its anchor tenants. The mall is operated by Simon Property Group.