Finance & Capital Management

Food Lion is making a major investment in store remodels.

The grocer announced it will remodel 142 stores in the greater Charlotte, N.C., market in 2016. Food Lion said it will invest $215 million in the stores, which includes remodeling, additional price investments throughout the year and investments in associates and the community through its Food Lion Feeds initiatives.

Citing union sources, The Bellingham Herald on Tuesday reported that Albertsons is prepared to acquire the remaining core stores of Haggen with the blessing of the Federal Trade Commission. "It appears that other bidders are not going to raise their bids or otherwise make them qualified bids, so the scheduled auction is cancelled and the sale to Albertsons will be put before the court for approval in the next week," representatives of Haggen union workers released in a statement.

Buoyed by strong holiday sales, Express reported impressive results for its fourth quarter as the company’s turnaround remained on track. The chain issued an upbeat earnings forecast for the full year.

The specialty retailer reported better-than-expected net income of $56.1 million, or 67 cents per share compared to $41.8 million, or 49 cents per share, in the year-ago period.

American Eagle Outfitters announced that Mary Boland, chief financial and administrative officer, plans to retire effective April 1, 2016.

The retailer is currently conducting an active search for a successor.

In the interim, Scott Hurd, American Eagle’s chief accounting officer, will lead the day-to-day management of the finance team and assume the role of interim CFO.

Michael Reed has been promoted to VP real estate for Stater Bros. Markets.

Reed joined Stater Bros. in 2014 as senior director of real estate, a position he held until his recent promotion. He will report to president and CEO Pete Van Helden.

Prior to Stater Bros., Reed served as real estate store development manager for Starbucks where he was responsible for growing the company’s Mid-West and Western Mountain regions.

Stater Bros. operates 168 supermarkets in California.

Checkers Drive-In Restaurants is employing a high-tech solution to help it expand throughout the United States.

The fast-casual chain has partnered with Buxton to identify growth opportunities for Checkers & Rally's restaurants. The company, which operates and franchises both Checkers and Rally's restaurants, currently has more than 800 locations nationwide.

Sport Authority’s decision to file bankruptcy is contributing to one of its suppliers making a major downward revision to a 2016 profit forecast.

Performance Sports Group, a supplier of team sports equipment under the Bauer and Easton brands, slashed its profit forecast for the current fiscal year by 55 cents to a range of 12 cents to 14 cents from a range of 66 cents to 69 cents. Nine cents of the shortfall was attributed to anticipated losses from “a U.S. national sporting goods retailer that has filed under chapter 11.”

Publix Super Markets is entering the eastern portion of the North Carolina market.

Publix will be coming to Greenville Square, a 150,000-sq-ft center, formerly anchored by K Mart, which will be completely renovated with a new façade, parking lot, lighting package and landscaping. The 49,000-sq-ft Publix will open in 2017 along with several new national, regional, and local tenants.

Brodyco is the developer for the partnership of David Brody, Hyman Brody, and Robert Beller, who purchased Greenville Square in 2005.