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Finance & Capital Management

  • Conn’s is on the move through the South

    Specialty home goods retailer Conn’s continues to expand outward from its home state of Texas with several recent openings in key markets pushing the company toward its ambitious 2015 growth plan.

    Conn’s currently operates 90 stores and earlier this year announced plans for between 15 and 18 new stores. Over the July 4 weekend the company added two store in North Carolina, a 46,000-sq.-ft. store in Charlotte and a slightly smaller 43,000-sq.-ft. store in Gastonia.

  • Rite Aid in new risk management appointment

    Camp Hill, Pa. -- Rite Aid Corporation is beefing up its risk management.

    The drugstore chain announced that Paul Zikmund, a risk management professional with nearly 30 years of experience, is joining Rite Aid as group VP of risk and controls.

    In this new position, Zikmund will oversee the risk management program for Rite Aid as well as its subsidiaries, RediClinic, Health Dialog and EnvisionRx. Zikmund will report to Tony Bellezza, Rite Aid senior VP and chief compliance officer.

  • Sears hits its big with REIT offering

    Hoffman Estates, Ill. – Sears Holding Corp. has met financial expectations for its new real estate investment trust (REIT) called Seritage Growth Properties. A 53.3 million-share Securities and Exchange Commission (SEC) subscription rights offering for Seritage that closed on July 2 was oversubscribed and generated about $1.6 billion, meeting expectations for gross proceeds of $1.57 billion.

  • Rite Aid creates risk management office

    Rite Aid has named a 30-year company veteran to the newly created post of group VP of risk and controls.

  • RadioShack lives on

    Fort Worth, Texas – RadioShack, which came to the brink of disappearing earlier this year, will see its brand continue to live on thanks to new financing.

    General Wireless Operations Inc., doing business as RadioShack, has completed new financing totaling $75 million, consisting of a $50 million asset based lending credit facility led by RBC Capital Markets and a $25 million first-in last-out term loan led by Great American Capital Partners.

  • American Apparel may need more money to keep going

    American Apparel Inc. is launching a restructuring plan aimed at cutting costs as the retailer looks to turn around its struggling business.

    The retailer said it would be closing stores, cutting jobs and unveil a new fall line.

  • Acquisition creates discount giant

    Chesapeake, Va. -- It’s a done deal.

    Dollar Tree announced Monday that it has completed its $8.5 billion acquisition of Family Dollar Stores.

    Gary Philbin, 58, formerly president and COO of Dollar Tree, has been named to the same position at Family Dollar, effective immediately. In his new role, Philbin will continue to report to Bob Sasser, CEO of Dollar Tree.

  • H&M feels pinch of strong dollar but keeps expanding

    New York -- Swedish fast-fashion giant H&M isn’t letting the strong U.S. dollar hurt its expansion plans.

    The chain plans to open about 400 new stores in 2015-2016. It is expanding into five new markets: Taiwan, Peru, Macau, South Africa and India. Other plans include the launch of H&M Beauty this July, starting in about 900 stores and online. The company also hinted at the development of a mysterious new brand.

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