Finance & Capital Management

Westlake, Ohio -- TravelCenters of America has completed its previously disclosed acquisition of 33 convenience store locations in northern Illinois.

The company expects the stores, which average approximately 3,400 sq. ft., will be rebranded as Minit Mart convenience stores and the sites will undergo improvements in the coming months.

TravelCenters of America operates some 370 convenience stores under the Minit Mart, TA and Petro Stopping Centers brands.
 

Plano, Texas -- While it’s way too early to start popping the champagne, J.C. Penney Co. has to be pleased about its second quarter financial results, which topped analysts expectations and suggested that the company’s turnaround is in progress.

Another high level defection from Target's merchandising ranks suggests CEO Brian Cornell's strategic vision for the retailer is not universally shared.

Jose Barra, executive vice president in charge of merchandising at Target, is departing the Minnesota-based retailer for a new position, The Wall Street Journal reported.

Plano, Texas -- Rent-A-Center announced the resignation of company veteran Mitchell E. Fadel, president and COO, effective Aug. 28.

Fadel is leaving to join EZCORP, where he will be president, U.S. Pawn. In his new position, he will lead the company's pawn businesses in the United States.

JCPenney 's renewed focus on omnichannel seems to be improving profitability for the retailer, which reported sales and revenue increases in the second quarter.

The company posted a net loss of $138 million, or 45 cents a share, in the quarter that ended Aug. 1, compared with a loss of $172 million, or 56 cents a share, a year ago. Total sales increased 2.7 percent from $2.80 billion a year ago to $2.89 billion. Same-store sales were up 4.1% and better than results also reported this week from Macy’s, Kohl’s and Dillard’s.

New York -- Party City isn’t celebrating its second quarter.  But it remains on track to open 30 new stores for 2015 and complete 50-60 remodels and relocations.

The party supply retailer reported a loss for its second quarter traffic amid light traffic. But it as the retailer reported a loss.

In the second quarter ended June 30, Party posted a loss of $23 million, or 20 cents a share, compared with a profit of $2.5 million a year earlier

Retailers rely on a combination of dividend payments and share repurchase programs to return cash to stockholders, but the latter method is coming under scrutiny as Democrats look to leverage the populist theme of income inequality during the 2016 presidential campaign.

Seattle -- Finally some good news in the department store sector.

Nordstrom Inc. on Thursday reported better-than-expected fiscal second-quarter earnings and sales.

The retailer reported net profit of $211 million, or $1.09 a share, for the quarter ending Aug. 1, up from $183 million, or 95 cents a share, in the year-ago period.