Finance & Capital Management

In a not unexpected move, beleaguered teen apparel retailer Pacific Sunwear of California Inc. filed for Chapter 11 bankruptcy court protection.

In a court filing on Thursday in Delaware, the Anaheim, California-based retailer listed assets in the range of $50 million to $100 million and liabilities of between $100 million and $500 million. It listed Simon Property Group and Nike Inc. among its top creditors. The chain named RCS Real Estate Advisors, New York, as its real estate advisor.

L Brands' Victoria’s Secret division had a record year in 2015, which is why chairman and CEO Leslie Wexner believes now is the best time to narrow the brand’s focus and simplify the operating model to drive long-term growth.

Rite Aid on Friday reported revenues of $8.3 billion for its fourth quarter ended Feb. 27, representing an increase of 20.8%. Retail Pharmacy Segment revenues were $6.8 billion and decreased 0.3% compared to the prior year period primarily as a result of a decrease in same-store sales. Pharmacy Services Segment revenues were $1.5 billion.
 

Bed Bath & Beyond has entered a new phase in its growth trajectory, becoming more aggressive in returning cash to shareholders and initiating a quarterly dividend as opposed to fueling top-line growth with rapid store expansion.

Aldi is expanding its fledgling footprint in Southern California.

On Thursday, April 21, the grocer will open six stores in Los Angeles County, three in Orange County and one store in San Bernardino County.

The April openings are part of Aldi’s plan to open approximately 45 stores in Southern California by the end of 2016, eight of which opened last month.

Currently, Aldi operates nearly 1,500 U.S. stores in 33 states.

MBH Architects, Alameda, California, announced the appointment of a new principal, Dimple Manghani, who previously led the retail team as a senior associate and studio director.

A licensed architect and a LEED accredited professional, Dimple has 12 years experience building relationships with such clients as Williams-Sonoma, Levi’s, and H&M. Additionally, she is responsible for the acquisition of the firm’s luxury retail clients, including Dior and Tiffany & Co.

Jill Turner-Mitchael, SVP overseeing health and wellness for Sam’s Club, was the keynote speaker at the Northwest Arkansas Council’s Health Care Summit in Rogers on Wednesday, April 6, Talk Business and Politics reported Thursday.

Pilot Flying J, the largest operator of travel centers in North America, is upgrading the indoor and outdoor lighting at select locations.

The company has entered into an agreement with Cree for an LED retrofit of interior and exterior lighting, to include parking lot canopies, downlights and area luminaires for various new and existing travel centers. The program is underway, with retrofits completed at nearly 100 Pilot and Flying J Travel Centers to-date and plans to roll out dozens of new stores annually over the next five years.