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Finance & Capital Management

  • Report: Nordstrom trims IT staff

    As part of a leveling of its technology spending, Nordstrom Inc. has made a reduction in its technology personnel.

    According to Geekwire, Nordstrom recently laid off 10 employees in its technology department.

  • Staples offers FTC justification for Office Depot acquisition

    Another set of weak quarterly results from Staples and another round of store closures could give the Federal Trade Commission more evidence to support Staples long-running effort to acquire Office Depot.

  • CBRE completes two retail sales in suburban Chicago for $14.8 million

    Chicago -- CBRE recently completed the sale of two retail centers in the Chicago, Illinois suburbs for $14.8 million.

    Regency Square, a 43,361 sq. ft. center, located in Huntley, Illinois is 97% leased. The center is anchored by Aldi and includes tenants Athletico, Jimmy John’s, Little Caesar’s and SportClips. CBRE represented the seller, Interstate Partners. Regency Square sold for $10.8 million. CBRE’s Derrick Almassy and Rich Frolik represented Interstate Partners in the sale to Hamilton Partners.

  • Winter Storm Jonas hurts revenue at Big Lots

    Big Lots says harsh winter weather hurt traffic counts and revenue, but the closeout retailer still posted increases in same-store sales for the fourth quarter.

    Big Lots reported income from continuing operations of $94.7 million, or $1.91 per diluted share, for the fourth quarter ended Jan. 30. Revenue dropped to $1.58 billion from $1.59 billion for the same quarter last year. Same-store sales increased 0.7%.It was the eighth consecutive quarter in which Big Lots has posted positive same-store sales.

  • Costco doing something it hasn’t done in nine years

    Costco Wholesale Corp. is raising entry-level wages for its hourly workers for the first time since 2007.

    The move comes as other major retailers have been upping the minimum wages for their entry-level workers amid a tightening job market.

    Starting this month, Costco will pay workers $1.50 more per hour in the U.S. and Canada. Workers will now earn at least $13 or $13.50 per hour, up from a minimum of $11.50 or $12 per hour.

  • Kohl’s serves its communities through philanthropy

    Kohl’s announced it donated more than $51 million in 2015 through various charitable efforts and programs.

    The donations include nearly $16 million in corporate grants through Kohl’s premier associate volunteer program and approximately $19 million donated through Kohl’s Cares® cause merchandise, in addition to other philanthropic giving.

  • Kroger’s comp streak continues, cap-ex to surge

    The lack of food price inflation which has affected the performance of many grocers had little impact on fourth quarter results at Kroger’s, a company whose string of quarterly same-store sales increases has now entered its 13th year.

  • A&G Realty Partners to manage sale of 87 Sports Authority locations

    A&G Realty Partners has been retained by The Sports Authority to manage the sale of retail store leases and assist in reducing the retailer’s occupancy costs following its Chapter 11 bankruptcy filing.

    A&G Realty is currently accepting bids on the leases, which range from 10,000 to 75,000 sq. ft. and are located in many of the major retail markets in the country including prestigious locations in California, Florida, Puerto Rico and Texas. The auction will take place in mid-April

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