Finance & Capital Management

Montreal - Metro Inc. intends to purchase up to 450,000 shares of its stock from in a private transaction with an “arm’s-length” third-party seller on or before Sept. 9, 2015. The price will be privately negotiated and a t a discount from the prevailing market price.

These purchases will form part of Metro's 17.1 million share repurchase program announced in September 2010 and renewed in September 2014.
 

Indianapolis – The Finish Line Inc. finished ahead of Wall Street expectations for profit and revenue in the first quarter of fiscal 2016. Net income rose 29% to $13.73 million from $10.65 million in the prior year period.

A higher gross profit, as well as significantly lower impairment and store closing charges, drove the increase in net income. Net sales grew 9% to $443.39 million from $406.53 million. Same-store sales at the Finish Line banner increased 5.5%.

While Mardi Gras celebrations ended earlier this spring, there are many software vendors that still have the Mardi Gras masks on as they pretend their cloud apps are SaaS – they are “SaaSquerading”(phrase coined by blogger Brian Sommer). There is a distinct difference between cloud computing and Software as a Service (SaaS) and it’s important for professionals to know why the difference matters.

Aliso Viejo, Calif. - Johnny Rockets is expanding into Poland, with its first Polish location expected in Warsaw in early 2016. The casual dining chain has reached a development agreement with HDS Polska Group to build and operate 10 Johnny Rockets restaurants during the next 10 years.
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HDS Polska Group is a subsidiary of publicly-traded company Lagardere Services that operates a network of more than 800 outlets in the Polish market including convenience stores, coffee shops and full service restaurants.

The CEO of the Finish Line Inc. says the company is poised for consistent growth and increased profitability after posting an increase in same store sales in the first quarter.

The Finish Line Inc. said profit rose 11% in the first quarter ended May 30. Same store sales rose 5.5%.

One of the world's biggest fashion retailers says the strong U.S. dollar hurt profits in the second quarter, but the company is moving ahead with plans to increase investments and even launch a new brand in 2017.

Arlington, Va. -- The Retail Industry Leaders Association (RILA) is calling on Congress to make “much-needed” changes to the Affordable Care Act (ACA).

The move comes in response to the Supreme Court of the United States' ruling Thursday upholding subsidies provided through ACA.

New York – Barnes & Noble Inc. beat Wall Street expectations, sharply reducing its loss even as sales fell.

The bookseller reported a net loss of $19.42 million in the fourth quarter of fiscal 2015, down from a loss of $36.7 million in the year-ago period. Reductions in selling, general and administrative (SG&A) and interest expenses, as well as lower depreciation and amortization, drove the decline in net loss.

New York -- Discounter 99 Cents Only has appointed a former Walmart executive as interim CFO — for the second time.

Less than a month after former Kmart executive Andy Giancamilli was named interim president and CEO, 99 Cents named Michael Fung to the role of CFO.

New York – Online jewelry retailer BaubleBar is making the leap to brick-and-mortar.

Launched in 2011 by two former investment bankers with Harvard MBAs, the retailer will open its first-ever, permanent brick-and-mortar location, a 1,200-sq.-ft. shop at Roosevelt Field Mall, in Garden City, New York. The mall is one of the nation’s largest shopping centers.