Finance & Capital Management

Pittsburgh – Dick’s Sporting Goods Inc. beat Wall Street expectations for profit but failed to meet the Street with sales growth in the second quarter of fiscal 2015. The retailer also announced it plans to open 44 new Dick’s Sporting Goods stores and nine new Field & Stream stores, as well as relocate five Dick’s Sporting Goods stores and one Golf Galaxy store, during fiscal 2015.

Dallas – Encore Retail, LLC, a subsidiary of Encore Enterprises, Inc., has acquired land to develop a 16+ acre high-density Class A mixed-use development in the affluent Town of Bedford, New Hampshire. The development is planned to be over 200,000 sq. ft. and will consist of fashion, recreation, fitness, dining and office space located in New Hampshire's retail and business hub.

The property is positioned along South River Road at the intersection of Route 101 and Everett Turnpike

New York -- Almost as quickly as tiny northwest grocer Haggen became a regional player by acquiring 146 former Safeway and Albertsons stores the company is retrenching and has plans to close a large number of stores.

Toano, Va. – Shuffling in the executive ranks continues at embattled Lumber Liquidators Holdings Inc., in the wake of accusations the retailer sold Chinese hardwood laminate products that had illegal levels of formaldehyde. Lumber Liquidators has hired Jill Witter as chief compliance and legal officer.  

Woonsocket, R.I. – CVS Health Corp. is entering a new pharmacy dispensing channel with the completion of an approximately $12.9 billion acquisition of Omnicare, a provider of pharmacy services to long-term care facilities. CVS initially announced the deal in May 2015.

CVS expects the deal to significantly expand its ability to dispense prescriptions in assisted living and long term care facilities, as well as expand its presence in the specialty pharmacy business.

Specialty retailer Francesca's is losing its head merchant.

CMO Sei Jin Alt is resigning to spend more time with her family and pursue other interests, the company said. The company has initiated a search for a new Chief Merchandising Officer. To facilitate a smooth transition, Alt will remain in her current role until Nov. 20.

San Diego – The ranks of publicly traded retailers are going to have a new member. Petco Holdings Inc. has publicly filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering (IPO) of its common stock.

CEO Brian Cornell isn't done retooling the executive leadership team at Target Corp.: The retailer now has a new COO and CFO.

Target has promoted current CFO John Mulligan to the newly created role of executive vice president and chief operating officer, effective Sept. 1. Mulligan will assume oversight of stores, supply chain and properties. Joining Target as executive vice president and chief financial officer will be Cathy Smith, a seasoned retail business leader. Both Mulligan and Smith will report to Cornell.