Consumer Affairs & Relations

The Finish Line's board on Monday adopted a shareholders right plan as the retailer warned of a grim second quarter and a steep decline in sales and profits for the year.    

The biggest retail deal of 2017 has moved one step closer to completion.    Shareholders of Whole Foods Market on Wednesday voted to approve the natural grocer's $13.7 billion acquisition by Amazon. The vote, which took place at Whole Foods' headquarters in Austin, Texas, was expected.   

Simon Property Group has agreed to a settlement with the office of New York State Attorney General Eric T. Schneiderman that will have it loosening its stranglehold on the outlet business in Metropolitan New York.   Schneiderman maintained that Simon’s Woodbury Common outlet center in the Hudson River Valley owned a virtual monopoly in the region — including New York City — by virtue of a clause in tenant leases that forbid the opening other outlet stores within a 60-mile radius.   

Build-A-Bear Workshop is holding steady.   The specialty retailer's board of directors has completed its review of strategic alternatives and authorized a share repurchase program of up to $20 million. Build-A-Bear initiated the review in May 2016 after a sharp decline in net income in its first quarter, saying at the time that it would consider "all" options to boost shareholder equity, including a sale.     

The man who resigned from the number two position at Uber after six months on the job has been named chief executive of the nation's largest tax preparer.   H&R Block named Jeffrey J. Jones II president and CEO, effective Oct. 9, 2017. He will succeed Tom Gerke, who will continue to serve as interim president and CEO until then. Gerke will remain general counsel and chief administrative officer.  

Dollar General is celebrating an important milestone.   The discounter has opened its 14,000th retail location. The store is located in Dauphin, Pa.   “Dollar General is excited to celebrate our company’s continued growth by celebrating our 14,000th store grand opening today,” said Todd Vasos, CEO, Dollar General. “For nearly 80 years, Dollar General has continually been focused on delivering everyday low prices, convenience and value to the communities we serve."  

Westwood Financial hired away DDR’s finance chief, hailing the move as central to its evolution from a “real estate sponsor into a sophisticated real estate institution,” according to Co-CEO Randy Banchik.   New Executive VP Matt Lougee will facilitate financing for Westwood’s retail investments, oversee capital formation and investor relations, and negotiate joint ventures. Lougee spent the entirety of his career to date at DDR, departing the company as senior VP of finance.  

U.S. consumer sentiment rose to its highest level since January in early August, reflecting optimism in the overall economy and in personal financial prospects.     The University of Michigan's consumer sentiment index rose to 97.6 in the first half of August from 93.4 in July, which was an eight-month low.  Economists estimated the index would hit 94 in August.