Finance & Capital Management

JCPenney says the company's third quarter results will "exceed expectations" despite a $50 million settlement charge to settle a false advertising class action lawsuit. 

The company announced Wednesday that it has reached an agreement to settle a false advertising class action lawsuit brought on behalf of California customers who purchased certain JCPenney private or exclusive branded products.

Macy’s Inc. on Wednesday blamed warm weather, weak tourist traffic and excessive inventory for the company's worse-than-expected third quarter results. The company said it will not pursue spinning off its properties into a real-estate investment trust, but that it is studying real estate options for some of its most iconic stores.

The Kroger Co. on Wednesday announced plans to acquire Roundy's. Kroger will purchase all outstanding shares of Roundy's for $3.60 per share in cash in a deal valued at $800 million, including the assumption of debt.

Macy’s blamed warm weather, weak foot traffic and excessive inventory for the company's worse-than-expected third quarter results and said it is studying real estate options for some of its most iconic stores.

American Apparel’s preliminary results for its third quarter are not looking very good.

The beleaguered retailer said it could not meet the deadline to file a quarterly report for the three months ended Sept. 30, noting that efforts related to its Chapter 11 bankruptcy filing in October have taken up a good deal of its time.

But American Apparel released estimates in which net sales for the quarter were down 19.1% to $126 million.

Amazon has scored another coup: Its CEO and founder, Jeff Bezos, now ranks as the fourth-richest man in the world, according to Bloomberg. The report puts his fortune at $58.2 billion. [Bloomberg]

The Seattle Times is reporting that, according to court documents filed last week, Albertsons is currently bidding on 36 of 95 stores being sold by the now-bankrupt Haggen. Albertsons had previously sold 146 stores to Haggen as part of its acquisition of Safeway. [Seattle Times]

The acquisition of Sheplers weighed on Boot Barn Holdings Inc. in the second quarter as the company reported flat same store sales.

Boot Barn said that for the second quarter ended Sept. 26, net sales increased 50% to $129.7 million; same store sales increased 0.1%; and net income was $1.2 million, or 4 cents per diluted share.