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Finance & Capital Management

  • It’s official: California hiking minimum wage to $15; New York looks to follow

    In a move that will directly impact retail and fast-food chains, California legislatures approved a plan to raise the minimum wage to $15 an hour by 2022, which will give the state the highest minimum wage in the nation. The measure will be signed into law on Monday by California Gov. Jerry Brown.

  • Good news for retailers in March jobs report

    March was a solid month for U.S. job makers, with retailers leading the way.

    The retail industry — excluding autos, gasoline and food services — added a solid 40,000 jobs in March, the National Retail Federation reported on Friday. The job market overall saw growth of 215,000 jobs in the month of March.

    Retail has added an average of 52,000 jobs per month over the last three months.

  • Department store giant continues to expand outlet store formats

    Macy’s announced it will open a new Bloomingdale's Outlet store in November 2016 at The Outlets at Orange, in Orange, California.

    The 24,000-sq.-ft. store will be the 17th Bloomingdale's Outlet location and offer a range of off-price apparel and accessories for men, women and children.

  • Going-out-of-business sales begin at Hancock

    Hancock Fabrics is set to begin liquidation aftera U.S. Bankruptcy Court in Delaware approved the sale of the chain to Great American Group on Thursday.

    Great American Group says going-out-of-business sales for 185 Hancock Fabrics stores have already begun.

  • Ulta Beauty adds new Chicago office

    Ulta Beauty plans to open an amenity-filled satellite office at desirable downtown Chicago location to complement its existing headquarters facility in a remote suburb.

  • PREIT Sells four non-core malls for $92.35 million

    Philadelphia -- PREIT announced it has completed the sale of four additional non-core malls. This is a milestone achievement for the company that signifies the near-completion of non-core mall disposition effort with one remaining mall being marketed for sale.

    Mall disposition transactions include:
    • Lycoming Mall in Pennsdale, Pennsylvania, anchored by J.C. Penney, Sears, Bon-Ton and Macy's sold for $26.35 million.

  • Chipotle considers opening a burger chain

    Chipotle Mexican Grill is thinking about getting into the burger business.

    The fast-casual giant, which is still struggling to recover financially from food-safety problems that surfaced last summer, filed a trademark application for "Better Burger" as part of a business diversification move to open a burger restaurant chain.

  • Winning with experience one customer at a time

    The world’s greatest golfers will gather soon in Augusta, Georgia, for the 80th annual Masters golf tournament, an event with has many similarities to the retail industry and one that serves as a source of inspiration as we look to grow the PGA TOUR Superstore.

    Around every turn on the picturesque course, golfers are faced with new challenges and opportunities that require them to balance the risks and rewards of their decision-making against their ability to execute shots all while striving to prevail over a field of unmerciful competitors.

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