Finance & Capital Management

New York - The House has passed a long-delayed tax bill that will help retailers remodel their stores and also move a wide range of individuals including welfare recipients and veterans into the workforce. The Tax Increase Prevention Act of 2014 now heads to the Senate.   The package includes two key provisions on depreciation that affect retailers who remodel their stores and another that helps with hiring.  

Tarrytown, New York - DLC Management Corporation announced its latest acquisition of 11 retail assets in New York, North Carolina, Arkansas and Tennessee totaling 2.58 million sq. ft., of which 1.73 million sq. ft. is owned property.   According to DLC, this acquisition is the largest in its history. The The properties include:  

• 2015 Walden Avenue, 26,500 sq. ft. – Cheektowaga, New York
• Batavia Commons, 49,431 sq. ft. – Batavia, New York

Months after announcing a major upgrade in its e-commerce capabilities, Belk reported that its online sales grew 46% in the third quarter.

The Charlotte, N.C.-based operator of 300 department stores in 16 states attributed the increase in Internet sales to the company’s “Yes! We Have It” item locator program and store fulfillment of digital sales initiatives.

Retailers looking to grow their physical store presence have an ally in Simon Property Group, as the retail real estate leader is poised to expand its portfolio of Premium Outlets properties by adding 6.4 million square feet and a total investment of $2.5 billion.

Eighties sensation Weird Al Yankovic is offering RadioShack a new hope for the holidays.

Yankovic is appearing in the chain's holiday ad campaign called "Gift Smart.” In the ad, he sings his own unique take on the holiday song “Toyland.”

"He's tech-savvy, smart and a social media guru," said RadioShack chief marketing officer Jennifer Warren. Yankovich has more than 3.5 million Twitter followers and 1.6 million Facebook fans. "I don't think there could be a better fit for our brand right now."

Oakville, Canada — The proposed merger between Tim Hortons Inc. and Burger King Worldwide Inc. has been approved by the Minister of Industry under the Investment Canada Act ("ICA"). The companies have set the deadline for registered shareholders of Tim Hortons or Burger King Worldwide to make an election by Dec. 9, with the assumption the proposed merger will occur Dec. 12.

Boilignbrook, Ill. — Ulta Beauty reported fiscal results for the third quarter of fiscal 2014 that looked pretty darned good. Net income rose 30% to $59.1 million compared to $45.4 million in the third quarter of fiscal 2013, with lower expenses helping drive up profit.

The company said it will have opened 100 new stores in all of fiscal 2014 and remodeled another 12.

Goodlettsville, Tenn. — Dollar General Corp. and Dollar Tree engaged in a verbal war on Friday as they both seek to acquire Family Dollar.    In a news release, Dollar Tree said Dollar General's bid "may ultimately fail" because the Federal Trade Commission may require it to sell more than the 1,500 stores the retailer has said it is willing to let go of.  

Houston — In its surprise change of leadership, Francesca's Holdings Corp. named Michael W. Barnes as chairman, president and CEO, effective immediately. He joins Fancesca's after serving as CEO of Signet Jewelers since 2011, and leading the company’s $1.46 billion acquisition of Zale Corp. Barnes left the Ohio-based Signet in October, saying he wanted to be closer to his family in Dallas.  

Laguna Hills, Calif. — Heslin Holdings, Inc., a privately owned commercial real estate investment and development firm, has purchased 1640 Rio Rancho Blvd., aretail property located in Rio Rancho, a city within the major metropolitanregion of Albuquerque, N.M. The firm will redevelop and re-tenant the property as part of a value-add investment strategy. Additionally, the firm has announced plans to invest up to $100 million in commercial properties in 2015.