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Finance & Capital Management

  • Analysis: Staples-Office Depot Merger Could Lead to Major Industry Consolidation

    By Will McKitterick, analyst, IBIS World

  • Brown Shoe names J.C. Penney exec as CFO

    St. Louis -- Brown Shoe Company announced that Kenneth Hannah has been named senior VP and CFO of the company, replacing Russ Hammer as of Feb. 16.

    Hannah most recently served as executive VP and CFO of J.C. Penney Co. Prior to that time, he served in multiple executive roles at SunEdison (formerly MEMC Electronic Materials), including president of Solar Energy and of Solar Materials and as VP and CFO.

  • Cache files for Chapter 11 protection

    New York -- Cache on Wednesday said it had filed for Chapter 11 bankruptcy protection after running out of capital and time to complete its turnaround. The women’s apparel retailer will continue to operate its business, but intends to continue to reduce its store count and sell and renegotiate some of its leases.

    Cache chairman and CEO Jay Margolis said the company filed Chapter 11 with the goal of “securing Cache’s future.”

  • Staples buying Office Depot

    New York -- Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.

  • Staples to acquire Office Depot in cash and stock deal

    Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.

  • Holiday sales lift Kohl's fortunes in 2014

    Kohl’s Corp. has increased its outlook for the recently completed business year, citing strong sales growth during the holiday season.

    The company reported fourth-quarter same store sales growth of 3.7%. The company also updated its fiscal 2014 earnings per share guidance to a range of $4.20 to $4.22 per share. On average, 27 analysts polled by Thomson Reuters expect the company to report earnings of $4.06 per share for fiscal 2014.

  • Costco comps flat in January

    Costco’s same store sales flat-lined in January, disappointing many analysts who had expected a 1.2% increase.  

  • Pharmacy a boost for Fred's

    A bigger focus on the pharmacy department was a key driver of success for Fred’s in January.

    The retailer reported that total sales for the month increased 3% to $138.8 million from $134.7 million in January 2014. Same store sales for the month increased 4.3% versus a decrease of 1.8% for the same period last year.

  • Cornell to clarify Target’s long-term strategy

    Target chairman and CEO Brian Cornell has made some bold moves since arriving at Target last fall, but the most significant revelations concerning long term prospects will come in early March when the company hosts its first investor conference of the Cornell era.

  • Macy’s realigns leadership toward omnichannel focus

    Cincinnati -- Macy’s on Tuesday unveiled a series of senior executive appointments the retailer says will support its new focus on omnichannel advances and overall innovation. Macy’s announced on Jan. 8 it would restructure its omnichannel capabilities and align the organization toward growth via merchandising, merchandise planning, marketing and technology.

    Effective Jan. 31, the following changes were made to staffing and priorities:

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