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Finance & Capital Management

  • Exclusive Content: Why We’re Investing in Quality Real Estate at the Top of the Market Rather Than Value-Add

    As we look at the white hot commercial real estate market, it’s clear that value-add and opportunistic investors are chasing deals in new asset classes and locations that are less than ideal. And it makes sense: they are return-driven, happy to take more risks to chase higher yields. But when the market inevitably comes down, they’ll have more to lose.

  • Acquisition creates first national bedding chain

    The nation’s two leading mattress specialty firms are one.

    On Friday, Mattress Firm completed its $780 million acquisition of rival Sleepy’s. The combined company will have annual sales of over $3.6 billion through approximately 3,500 retail locations in 48 states.

  • Expectations run high at Home Depot's pro desk

    The Home Depot is planning (conservatively, it says) to be a $100 billion retailer in 2018 – growing by $13 billion, or the equivalent of 357 stores, without any major change of its footprint.

    Where’s growth going to come from? A lot of it from the pro customer, who currently makes up only 4% of Home Depot’s customers, but account for about 35% of total sales. Clearly, this is a customer with clout.

  • Sporting goods chain eyes bankruptcy filing

    Sports Authority is taking steps towards filing for Chapter 11 bankruptcy protection, according to Bloomberg.

    The retailer has a debt payment due in 10 days and in talk with its lenders about a reorganization plan under which it would close as many as 200 of its more than 450 stores, the report said.
     
    Sports Authority reportedly skipped a $20 million in interest payment in January on a $343 million loan. It has 10 days to make the payment.

  • PriceSmart offers unconventional reason for comp decline

    It’s been quite common of late to hear retailers cite warm weather and intense competition as sources of sales weakness, but the prize for originality goes to PriceSmart after the warehouse club operator reported a January same-store sales decline.

  • American Apparel emerges from bankruptcy

    It’s the beginning of a new era at long-suffering American Apparel.

    On Friday, the company announced it has emerged from Chapter 11 as a private company after successfully implementing its reorganization plan. The announcement comes days after the Delaware bankruptcy court gave its approval to the plan.

  • General Growth clarifies comments about Amazon’s store expansion plans

    The CEO of General Growth Properties caused a firestorm late Tuesday when he made a passing reference during the company’s fourth quarter earnings call that Amazon was planning to open 300 to 400 bookstores. On Wednesday, the mall giant issued a very short statement that poured water on the fire.

    “General Growth Properties CEO Sandeep Mathrani has indicated that a statement he made concerning Amazon during GGP's earnings conference call held on February 2, 2016, was not intended to represent Amazon's plans.”

  • Challenging holiday takes toll on Kohl’s profit

    Positive trends with its online business were not enough to help Kohl’s offset in-store weakness and intense competition, which pressured profits and caused a significant downward revision in guidance.

    Kohl’s said its fourth quarter same-store sales increased 0.4% while the digital business grew 30%. Full year same store sales increase 0.7%.

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