Finance & Capital Management

Walmart wants to advance its long-term growth prospects in China and has acquired full ownership of an e-commerce company in which it already held a majority stake to further that objective.

Toronto - Hudson’s Bay Company (HBC) is capitalizing on 42 real estate assets. The retailer has closed a joint venture with Simon Property Group focused on credit tenant, net-leased and multi-tenanted retail buildings in the U.S. and internationally.   

Washington, D.C. - The National Retail Federation (NRF) is now a little less rosy in its sales expectations for 2015. The NRF has lowered its full-year retail sales forecast because of unexpected slow growth recorded during the first half of the year, similar to the industry’s experience in 2014.

However, NRF still expects sales will steadily increase through the remainder of the year. NRF forecasted in February that retail sales would grow 4.1% in 2015 from 2014, but today’s revision lowers the forecast to 3.5%.

The Home Depot Inc. is spending about $1.6 billion in an acquisition squarely aimed at better meeting the needs of its professional customers.

Commerce, Calif. – Smart & Final Stores Inc. reported net income of $11 million in the second quarter of fiscal 2015, essentially flat compared to $11.1 million in the year-earlier period. Higher expenses related to higher sales volumes, increased store support costs, additional marketing expense, and public company costs inhibited profit growth.

Cincinnati - The Kroger Co. is extending a partnership that provides a number of financial services to shoppers at its stores. By continuing a 30-plus-year agreement with global payment services provider Western Union, Kroger gives customers the ability to send and receive Western Union money transfer transactions, purchase money orders and pay their bills at more than 2,300 Kroger store locations.

Apple CEO Tim Cook says the Apple Watch is off to “a great start,” although the company did decline to provide specific sales figures for the watch in its third quarter report on Tuesday.

Clearwater, Fla. – Recreational boat retailer MarineMax Inc. should be floating after receiving positive fiscal results for the third quarter of fiscal 2015. Net income sailed 29% to $14.9 million from $11.5 million in the same period the prior year, aided by gains from sale of real estate.

Revenue grew approximately 8% to $231.8 million, compared with $214.4 million. Same-store sales increased approximately 10%.