Finance & Capital Management

Paris - Nature & Découvertes, a French-based European retailer with 83 stores across France, Belgium, Luxemburg, Germany and Switzerland, has partnered with Ipanema Technologies as part of an enterprise-wide, 24-month digital transformation. With Ipanema’s help, the retailer successfully reduced application response time by 50%, and reduced network costs and OPEX costs by 50% and 10%, respectively.
 

Freeport, Maine – L.L. Bean Inc. intends to almost triple its store count by 2020. In an internal company memo distributed Wednesday, March 11, L.L. Bean told employees it will open four stores in 2015 and at least 100 by 2020.

Currently, L.L. Bean operates 26 stores and 10 outlets in the U.S. The retailer does not have any stores west of Colorado, but plans to open new stores in the Pacific Northwest. All new stores will be full-price locations. The memo was signed by CEO Chris McCormack, who plans to retire in 2016.

Hoffman Estates, Ill. – Increased selling, general and administrative (SG&A) expenses helped swing Sears Hometown & Outlet Stores Inc. to a net loss in a generally tough fourth quarter of fiscal 2014. Sears Hometown & Outlet reported an preliminary, unaudited net loss of $4.63 million, compared to net income of $3.72 million in the same quarter of the previous fiscal year.

Net sales dropped 7% to $562.34 million from $602.48 million, partially driven by a 7.7% decline in same-store sales.

Westlake, Ohio – Rising fuel gross margins and a non-recurring litigation settlement helped Travel Centers of America Inc. (TA) roughly triple its net income to $34.34 million in the fourth quarter of fiscal 2014, from $11.97 million in the fourth quarter of the previous fiscal year. Revenues dipped 9% to $1.72 billion, from $1.9 billion.

Port Washington, N.Y. – Consumer electronics retailer Tiger Direct, a subsidiary of Systemax, has decided to focus on its online territory. Tiger Direct is shuttering 31 of its 34 U.S.-based and international stores.

Gordon Brothers Group subsidiary DJM Real Estate is handling the disposal of 27 Tiger Direct stores in the U.S. and Canada. The stores, which range in size from 14,000 to 33,400-sq.-ft, can be subleased or have their leases purchased outright.
 

Cary, N.C. - The Pantry Inc. has announced the expiration of the waiting period under the U.S. Hart-Scott-Rondino Act for to the proposed merger between The Pantry and a U.S. subsidiary of Alimentation Couche-Tard Inc. Pantry stockholders approved the merger agreement at a special meeting on March 10.

New York -- After five consecutive quarters of declining same-store sales, teen retailer the Buckle may be coming out of its slump.

The Nebraska-based company reported net sales of $353.5 million, 4.3% higher than the year-ago quarter. Same store sales grew 1.1%. Net income rose by about 1.3% to $60.1 million, producing earnings of $1.25 per share, ahead of analysts’ estimates.

New York -- Hibbett Sports is on track to open at least 80 new stores in 2015 as strong holiday sales and early tax refunds gave the retailer a boost in the January quarter.

The company posted quarterly earnings of $19.9 million, compared to $16.9 million, in the year-ago period. EPS surged to $0.79 from $0.64. Its sales gained 9.9% to $239.3 million. Same store sales rose 5.4% in the quarter.

New York -- BizHive CEO Kim Feil is bringing her retail marketing knowledge to the board of regional supermarket operator Roundy’s.

The publicly held operator of 149 stores in Wisconsin and Illinois said Feil brings to its board proven retail marketing experience and a keen understanding of consumer insights, marketing strategy and change management.

New York -- Kroger executive Kathleen “Katy” Barclay and former Coach executive Catherine “Kate” Buggeln have joined the board of directors of Five Below. The two executives bring different strengths to the rapidly growing teen and tween retailer’s board. Barclay has more than 35 years of experience in the human resources field and currently serves as senior VP of human resources at Kroger.