Finance & Capital Management

Bellport, N.Y. – Perfumania wants to be sure investors hear about its growth potential. The specialty fragrance and beauty retailer has retained JCIR, a New York City-based investor relations firm, to expand its investor relations and financial community outreach program.

Jackson, Miss. -- The fast-growing Newk’s Eatery named Robert Nygren as CFO.

Nygren comes to Newk’s with nearly two decades of financial management experience. He most recently served as VP of finance for DineEquity, the world’s largest full-service restaurant company, overseeing financial planning, analytics and strategy for Applebee’s and IHOP in conjunction with the brands’ operational and development objectives.

Westborough, Mass. – Has BJ’s Wholesale Club found its next CEO?

The retailer named Christopher Baldwin, former CEO of Hess Retail, as president and COO, a position in which Baldwin is poised to succeed Laura Sen, current CEO of BJ’s.

Baldwin will assume his new responsibilities at the chain on Sept. 8, where he will oversee merchandising, logistics, membership, marketing club operations.

Mooresville, N.C. – Lowe’s Companies Inc. is making a big purchase that will enable it to build a big store on one of Hawaii’s biggest islands.

The retailer is purchasing an 11-acre property in Kahului, Hawaii for $18.7 million from A&B Properties Inc., a subsidiary of Alexander & Baldwin.

Lowe’s plans to build a 167,000-sq.-ft. store on the site, located on the island of Maui. The new store will be 16% larger than Lowe’s current store in Kahului, which it leases from a third party.

Brisbane, Calif. – Bebe Stores Inc. continues to expand its global presence.

Bebe announced it has signed a five-year strategic cooperation agreement with Shanghai-based brand agency Longgoal LLC to open between 60 and 150 Bebe stores, shop-in-shops and third-party retailers in Greater China, Hong Kong, Macau and Taiwan. The first store is expected to open in the summer of 2016.

Dallas – Some major retailers are participating in the 30th Retailing Summit conference hosted by The Texas A&M University’s Center for Retailing Studies at Mays Business School.

Marvin Ellison, the new CEO of The J.C. Penney Co. Inc. and Barry Beck, co-founder and COO of Bluemercury, which was recently purchased by Macy’s, will be among the speakers at the conference, held Oct. 8-9 at the Westin Galleria in Dallas.

The CEO of Michaels says an improved merchandising strategy and a focus on the customer experience helped drive sales growth at the specialty retailer in the second quarter.

Total sales increased 3.8% to $984.3 million in the second quarter ended Aug. 1 at Michaels and same store sales increased 2.9%. Michaels reported a profit of $35.7 million, or 17 cents a share, vs. a loss of $46.8 million, or 26 cents a share, a year ago.

The turnaround plan at Big Lots, which is helping the retailer grow profit and same store sales, is also prompting some management changes.

For the second quarter ended Aug. 1,  same store sales increased 2.8%. Net sales increased 1.2% to $1,209.7 million. Big Lots reported a profit of $17.6 million, or 34 cents a share, down from $19.9 million, or 36 cents, a year earlier. Excluding certain items, per-share profit rose to 40 cents from 31 cents. Revenue edged 1.2% higher to $1.21 billion.