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Finance & Capital Management

  • What went wrong at Advance Auto parts

    Warm weather hurt sales at Advance Auto Parts in the fourth quarter, but other factors were in play too as the company’s performance lagged competitors.

    The retailer said same store sales were negatively impacted by the timing of the New Year's day holiday, which fell in the 53rd week last year, by the foreign exchange currency fluctuations from its Canadian business, and by warmer winter weather.

  • NRF issues optimist forecast for 2016 retail sales growth

    Retail industry sales will grow an estimated 3.1% in 2016, outpacing the 10 year industry average, as economic headwinds diminish, according to a forecast released by the National Retail Federation.

    The NRF sales forecast of 3.1% excludes automobiles, gas stations and restaurants and exceeds the 10 year growth rate of 2.7%. Non-store retail sales are forecast to growth between 6% and 9%.

  • Staples show how bad it wants to get Office Depot deal done

    Staples secured approval of its acquisition of Office Depot from European regulators after agreeing to numerous concessions. Now similar actions may be required if the company is to win over a stubborn U.S. Federal Trade Commission.

    Staples said it received approval from the European Union to acquire Office Depot, highlighted a range of actions it took to alleviate the regulator’s competitive concerns and used the action to take a jab at the U.S. Federal Trade Commission (FTC).

  • Cabela’s elevates exec to new role of president

    Cabela’s EVP and Chief Commercial Officer Scott Williams has been elevated to the role of president and given additional responsibilities in a move that positions him to succeed longtime CEO Tommy Millner. 

    Williams will continue to report to Millner. Williams will take on additional responsibility for U.S. retail operations and all operations in Canada.

  • CBL completes sale of majority interest in North Carolina property

    Chattanooga, Tenn. -- CBL & Associates Properties announced that it closed on a new 10/90 joint venture for Triangle Town Center and Commons in Raleigh, North Carolina, with DRA Advisors. The new joint venture acquired the property from the existing 50/50 joint venture between CBL and The Richard E. Jacobs Group for a total consideration of $174.0 million, including assumption of a $171.1 million loan secured by the property. CBL now holds a 10% ownership position in the asset and is responsible for leasing and managing, earning customary fees.

  • Outlets on fire as occupancy rate set new record

    So much for the argument that the U.S. market is saturated with retail stores and e-commerce is hurting mall traffic. Tanger Factory Outlet Centers brought four new properties online in 2015 and still managed to achieve a portfolio occupancy rate in excess of 95% for the 35th consecutive year.
     

  • Cabela's names new president

    Cabela’s executive VP and chief commercial officer Scott Williams has been elevated to the role of president and given additional responsibilities in a move that positions him to succeed longtime CEO Tommy Millner.

    Williams will continue to report to Millner. Williams will take on additional responsibility for U.S. retail operations and all operations in Canada.

  • Tax refunds arrive later and that's a problem for Citi Trends

    Same store sales literally fell off a cliff at Citi Trends in the waning days of the fourth quarter and the operator of 522 urban fashion stores is attributing the weakness to the federal government.

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