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Finance & Capital Management

  • Indian e-commerce giant recruits execs from major retail, tech firms

    Flipkart, a leading Indian online marketplace, is naming three new technology executives with experience at some major global retail and IT firms.

  • Rite Aid beats street in Q2, adjusts guidance

    Rite Aid on Thursday reported $7.7 billion in revenue for its fiscal second quarter ended Aug. 29, representing an increase of 17.5%. Retail pharmacy segment revenues were $6.6 billion and increased 1.9%, primarily as a result of an increase in same-store sales. And pharmacy services segment revenues were $1.1 billion from the date of the acquisition of EnvisionRx — June 24 — through the end of the quarter. 

  • Major retailer CEO joins Yum Brands board

    The CEO of one of America’s most prominent discount retail chains has joined the board of directors of quick service restaurant operator Yum Brands. Target CEO Brian J. Cornell, 56, is now a member of the Yum Brands board.

  • Smart & Final shuffles board

    Smart & Final Stores Inc. is shuffling the membership of its board of directors. The discount grocer has elected Paul N. Hopkins and Kenneth I. Tuchman to the board.

    Hopkins is the former chairman of the board of directors of insurance company Farmers Group Inc. and CEO of its Americas operations, including Latin America and shared services operations. 

  • Retailers to get tax relief for store remodels/improvements?

    Two bills passed by a key House committee would help retailers save on store remodeling and improvement costs upfront.

  • The Home Depot builds physical omnichannel infrastructure

    The Home Depot is building physical infrastructure to support online operations. The home improvement giant is officially opening the third of three facilities designed to support its online business, IT transformation and overall interconnected retail strategy.

    The new 1.6 million-sq.-ft. facility is located in Troy Township, Ohioand is expected to eventually employ 500 workers. Home Depot is opening the center as online sales continue to grow and currently account for 5% of total revenues.

  • Report: Leading pet retailers may merge

    The two biggest specialty pet retailers in the U.S. may merge. According to Reuters, Petco Holdings Inc. is considering a possible acquisition from chief rival PetSmart Inc.

  • CMA appoints new marketing coordinator

    CMA architecture firm Principal Patrick G. Blees announced Nicole Urista has joined the firm’s Minneapolis office to further develop CMA’s growing  portfolio of regional and national accounts. 

    Urista’s key responsibilities are to assist leadership with business development and coordinate all marketing efforts while facilitating the continued growth of CMA.

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