Finance & Capital Management

Secaucus, N.J. – The Children’s Place Inc. has authorized a new $100 million share repurchase, with the goal of returning excess capital to shareholders. During the past five years, Children’s Place has returned more than $487 million to our shareholders through share repurchases and dividends.

Atlanta - Sales for the fourth quarter of fiscal 2014 at Havertys Furniture Companies Inc. increased 9% to $213 million, compared with $196.2 million for the fourth quarter of fiscal 2013. Same-store sales increased 8.3%. 

Burnaby, Canada - Canadian financial cooperative Desjardins Group is acquiring both the Best Buy Canada and Future Shop private-label credit card portfolios from Best Buy Canada Ltd. Along with the two branded credit card portfolios, Desjardins will also be acquiring most outstanding loans and client accounts.

In addition, all Best Buy Canada and Future Shop stores nationwide will offer Desjardins' Accord D financing, a product to finance in-store purchases.

Milwaukee -- Mid-America Real Estate Corporation’s Investment Sales team recently brokered the sale of a 4,991-sq.-ft. multi-tenant retail building within the Underwood Crossings development, a 175,000-sq.-ft. retail center located in Brookfield (Milwaukee MSA), Wisconsin. A private investor purchased the property for $1.7 million.

Atlanta --  The Shopping Center Group announced its continued expansion with the addition of a California brokerage team of industry veterans. The move across the Mississippi River marks the firm’s first foray into western United States. Located in Santa Barbara, the new office opened Dec. 1.

“The acquisition of this team is a big step in The Shopping Center Group’s pursuit of a national footprint," said chairman and Co-CEO David Birnbrey.

Dollar Tree and Dollar General shareholders may be wondering why the boards of their respective companies are so intent on acquiring Family Dollar after seeing the takeover target’s first quarter results.

Regional discounter Fred’s strong pharmacy sales weren’t enough to help the company avert a 1.4 percent same store sales decline for the month.

It was a happy holiday from a sales standpoint at Steinmart with the company reporting a 5.8 percent same store sales increase for December.

The 5.8 percent comp increase for the December period ended Jan. 3 follows a 4.8 percent gain in November and a 4.5 percent increase during the prior December.

An improvement in delinquency rates helped Conn’s in December, as the company reported an 11.5% increase in total net sales.

Conn’s total sales, which the company reported at $132.4 million, were impacted approximately 7% by tighter consumer finance underwriting, the company said, which was implemented in response to rising credit delinquencies and defaults. The action improved 60-plus-day delinquency rates in December by 30 basis points over November, the company reported. The company also said same store sales edged up only 0.5% due to plummeting tablet demand.

The 2014 holiday season was a perky one at L Brands, as sales increased beyond expectations in December.

The parent company of Victoria’s Secret and Bath & Body Works reported that same store sales across the company increased by 4% for the month. Wall Street analysts had been predicting a 3.6% increase.