Finance & Capital Management

Looking for a piece of the growing off-price pie, Kohl's has officially opened its Off Aisle concept in New Jersey.

Kohl’s is testing the off-price waters by opening a discount store in Cherry Hill, N.J., this summer called "Off Aisle by Kohl's." 

Leadership of the Kroger Co.’s retail operations is in limbo following the retirement of COO Mike Ellis, with no immediate successor named.

The Kroger Co. announced that Ellis has retired after 40 years with the company.

In December 2014, Ecova released the findings of its 2015 Energy and Sustainability Predictions survey to better understand what’s on the minds of those involved in energy and sustainability management.

Montreal - Birks Group Inc., which operates 47 luxury jewelry stores in Canada, Florida and Georgia, reported a growing net loss in first quarter 2015 despite improvements in net and same-store sales. Net loss totaled $8.63 million, up from $5.8 million the same period a year earlier.

Although net sales rose 7% to $301.64 million from $281.16 million, increases in cost of sales, selling, general and administrative (SG&A) expenses, restructuring, debt extinguishment and asset impairment helped expand net loss. Same-store sales increased 16%.

Duluth, Ga. - A majority of restaurant owners and managers believe that technology has a direct impact on increased revenue.

According to the 2015 NCR Restaurant Technology Pulse, 67% of respondents say technology helps drive revenue growth and 35% of restaurants are more dependent on tech tools compared to a year ago.

San Jose, Calif. – The long-anticipated separation of eBay Inc. and PayPal Inc. into two independent, publicly traded companies is almost here. Now that the split has received official approval from the eBay board of directors, it is expected to occur July 17.

York, Pa. - The Bon-Ton Stores Inc. is selling six stores for $84 million to CPA: 17 – Global, a non-traded real estate investment trust (REIT) of global net lease REIT W.P. Carey Inc. Bon-Ton will lease the stores back.

Proceeds from the transaction will be used to pay one of two of the company’s mortgage loans due in April 2016. Each loan has about $105 million in principal and consists of 12 properties. Bon-Ton is actively pursuing refinancing options for the second loan.

The Bon-Ton Stores is looking to help pay off a $105 million mortgage on 12 properties with a new deal.

The retailer announced it will sell six properties to CPA:17-Global, a real estate investment trust of W.P. Carey, and lease them back. The deal will generate $84 million for Bon-Ton.

A former Target executive who led new format, new store and remodeling programs while also overseeing pharmacies and clinics is joining Rite Aid as executive vice president of store operations.

Bryan Everett will be responsible for all operations at the company’s nearly 4,600 chainwide stores and will report to Rite Aid’s president and COO Ken Martindale. Everett will succeed Bob Thompson, who has announced his retirement from the company, effective January.

Cincinnati – The Kroger Co. is responding to explosive financial performance with a two-for-one stock split, dividend increase and share buyback program. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006, and expects further growth.