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

Kroger is thinking big in Texas with a three year, $1.2 billion investment plan and just created a new senior leadership structure to execute the growth strategy.

Kroger’s growth aspirations in Texas will be overseen by two key executives tasked with leading newly created divisions. The retailer created a new Dallas division and a Houston division. The stores in both areas were previously part of the company’s 214 unit Southwest division.

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.  

Kohl's Corp. is adding some labor market expertise to its board.

The retailer says Jonas Prising has been elected as a new board member, effective immediately. He has been elected to a term expiring at Kohl's 2016 annual shareholders meeting and will be eligible for re-election by Kohl's shareholders at that time. He will initially serve on the Board of Directors' Governance and Nominating Committee.

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.

The world's largest home improvement chain is benefiting from Americans spending more on their homes than on their wardrobes, as Home Depot reported record sales and earnings in the second quarter.