The New York Times reports that back to school shopping is delayed this year, partly due to a slow economy as well as colder weather. “This month, when the National Retail Federation surveyed consumers with school-age children, less than 8 percent had completed their back-to-school shopping, the lowest figure in four years.” The Carlyle Group, a Washington D.C. based private equity firm, announced that it has acquired a 60% stake in Tok & Stok. Based in Barueri, Brazil, Tok & Stok is a leading furniture retailer and is estimated to have generated approximately $495 million in sales last year. MarketWatch reports that retail chains Nordstrom and Target and both planning to enter into the Canadian market in 2014. “U.S. retailers are battling a saturation of domestic store footprint and competition from online retailers led by Amazon.com, Inc. With U.S. brick-and-mortar retailers in a defensive mode, Canada, which has enjoyed a more sound economy and a rising currency in recent years, looks like a more appetizing growth opportunity, analysts said.” The Wall Street Journal reports that private-equity firm Clayton, Dubilier & Rice has agreed to acquire the leader in formal-wear for $1.05 billion. “It is the fourth deal in 12 years for David's Bridal. CD&R is buying the chain from Leonard Green & Partners LP and TPG Inc. Leonard Green will remain a minority partner in the retailer with about $85 million invested, and TPG will exit the business when the deal is completed.”
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