Abercrombie & Fitch Co.
Annual Sales: $2 billion
Enterprise Value: $4.4 billion
BUYER/HOLDING: Company is focused on organic growth, especially via international expansion. But what if the right deal comes around? Has $443.4 million in cash on balance sheet.
Annual Sales: $1.3 billion
Enterprise Value: $533.4 million
HOLDING/SELLING: The regional department store chain, which acquired Elder-Beerman about a year ago, posted a loss in its most recent quarter. Is its real estate portfolio of 140 stores appealing to other department store chains?
Annual Sales: $7.5 billion
Enterprise Value: $3.9 billion
HOLDING/SELLER: There’s speculation that several department store retailers are interested in this predominantly family-run company. Several members of the Dillard family have controlling interest in shares, and may not want to sell.
Annual Sales: n/a
Enterprise Value: n/a
SELLING: The company is on the block and shedding stores as parent company Spiegel Inc. works through its bankruptcy. Several financial firms — Apollo, Bain and Cerberus Capital Management — conducted due diligence, and bids were submitted in August. Company could fetch $600 million to $1 billion.
Federated Department Stores
Annual Sales: $15.6 billion
Enterprise Value: $13.6 billion
BUYER/MERGING: Reportedly in talks with May Department Stores to acquire and presumably merge with the ailing department store chain. Could also be interested in making a deal with Dillard’s. Federated has $212 million in cash on its balance sheet as of its most recent quarter.
Annual Sales: $186.5 million
Enterprise Value: $23.2 million
SELLING: Company currently in bankruptcy. Has shuttered some stores, and is being eyed by both strategic and financial buyers. Gap Inc. $16.3 billion $18 billion
BUYER/HOLDING: Gap Inc. could be in play. Comp-store sales have recently softened, but the retailer is focused on international expansion as well as a new over-35 concept set to open in 10 test stores this fall. Has $2.7 billion in cash on hand.
J. Crew Group Inc.
Annual Sales: $688.3 million
Enterprise Value: n/a
SELLER: Despite stellar comps and improving operating margins, the specialty retailer received two loans in late 2004 totaling $455 million. Possible target of financial buyer or private equity firm. IPO speculated for 2006.
J.C. Penney Co. Inc.
Annual Sales: $18.4 billion
Enterprise Value: $12.6 billion
BUYER/HOLDING: After shedding its struggling Eckerd drug store unit last year, the national department store chain has shown significant operational improvement. Rumored to be interested in acquiring some or all of May Department Stores. Has $4.6 billion in cash in its coffers.
Jones Apparel Group Inc.
Annual Sales: $4.4 billion
Enterprise Value: $5.2 billion
BUYER: Bought Barneys New York in late December and Maxwell Shoe in July. Could be looking for ways to further diversify its portfolio. Has $49.5 million in cash on balance sheet.
Annual Sales: $2.4 billion
Enterprise Value: $1.1 billion
BUYER/HOLDING: Kellwood apparently evaluates on the order of 100 possible acquisitions a year. Has $208.9 million in cash.
Kmart Holding Corp.
Annual Sales: $17.1 billion
Enterprise Value: $6.7 billion
BUYING/MERGING: Currently on track to merge with Sears in $11 billion deal. $2.56 billion cash on hand at end of latest quarter. Is Edward Lampert, who helped the company emerge from bankruptcy in May 2003 and led the Sears deal, done?
Annual Sales: $11.7 billion
Enterprise Value: $17.7 billion
SELLER/HOLDING: Company appears to be struggling to maintain a turnaround. Comp-store sales are inconsistent, usually in negative territory. Could other department store chains be interested in its 640-strong real estate portfolio?
Limited Brands Inc.
Annual Sales: $9.4 billion
Enterprise Value: $8.9 billion
HOLDING/BUYER: Company focused on organic growth, but could be open to a strategic buy. Has $2.14 billion in cash as of last quarter.
Liz Claiborne Inc. $4.2 billion $5.2 billion
BUYER: Rumored to be in talks to acquire Ann Taylor Stores Inc. Has $134.4 million in cash.
The May Department Stores Co.
Annual Sales: $13.3 billion
Enterprise Value: $16.1 billion
SELLING/MERGING: Reportedly in talks with Federated to divest all or some of its chain of about 500 department stores. Purchased Marshall Field’s from Target in July for $3.4 billion.
Neiman Marcus Group Inc.
Annual Sales: $3.55 billion
Enterprise Value: $3.7 billion
BUYER/SELLER/HOLDING: Is the Smith family looking to sell its majority stake? Or could they be interested in buying Saks Inc.?
Polo Ralph Lauren Corp.
Annual Sales: $2.65 billion
Enterprise Value: $3.9 billion
BUYER: Company is laying out a plan for its Asian business, which could include bringing it in-house. Has $362.9 million in cash on hand.
Annual Sales: $6.4 billion
Enterprise Value: $3.5 billion
SELLING: Sales at Saks Department Store Group have wilted in recent years, while its luxury stores, Saks Firth Avenue and Off 5th, also have not kept up with competition.
Sears, Roebuck & Co.
Annual Sales: $41.1 billion
Enterprise Value: $11.6 billion
SELLING: Scheduled to complete $11 billion merger with Kmart in March, but could another financial buyer, such as real estate investment trust Vornado, be interested? Additional speculation that new company could spin off its Lands’ End apparel brand.
Annual Sales:$45.6 billion
Enterprise Value: $53.4 billion
HOLDING: Divested Marshall Field’s to May in July. It Has $1.6 billion in cash on hand.
Annual Sales:$6.1 billion
Enterprise Value: $7.1 billion
BUYER/HOLDING: Could be looking for more purchases to add to recent buys of Vans and Nautica. Has $485.5 million in cash on hand.
Wal-Mart Stores Inc.
Annual Sales: $284.8 billion
Enterprise Value: $254.3 billion
BUYER/HOLDING: With $1.1 billion in cash on hand and interest in both domestic and international expansion, the company could be looking to pick off any suitable sites for new Wal-Mart, Sam’s Club or Neighborhood Market stores.
Wet Seal Inc.
Annual Sales: $439.1 million
Enterprise Value: $74.2 million
SELLER: The hurting teen retailer reported on Tuesday that the SEC has opened an informal inquiry on its August second-quarter earnings report, which followed news that a court in California consolidated several lawsuits against the company. Since last summer, the company has been unable to successfully turnaround operations. Speculation the company could sell off its profitable Arden B. division. Has closed 150 Wet Seal locations.
Researched and reported by Meredith Derby
SOURCE: Company reports, Yahoo Finance and Thomson Financial. Sales are for 2003. Stock prices as of Feb. 8. Enterprise value equals a company’s market capitalization plus debt and preferred stock minus cash and cash equivalents.