Finance & Capital Management

Dollar Tree's yearlong takeover saga, in which the retailer's offer to buy Family Dollar prompted a separate buyout attempt from Dollar General, is finally over.

Dollar Tree Inc. announced that it has completed its $8.5 billion acquisition of Family Dollar Stores Inc. Dollar Tree also named a new president and COO of Family Dollar. The combined company will operate about 13,000 stores, making it the largest dollar store chain in the U.S. by store count. 

Mooresville, N.C. – Lowe's Companies Inc. has promoted Tiffany L. Mason to senior VP of corporate finance and treasurer. Mason will continue to report to CFO Robert F. Hull Jr.

In her expanded role, Mason is taking on responsibility for financial planning and analysis, while she retains responsibility for the investor relations and treasury functions. Mason has nearly 20 years of experience in accounting and corporate finance across various industries, including technology, manufacturing, banking and retail.  

RadioShack plans to enhance its in-store experience and deliver an exciting new product mix now that it has $75 million in new funding.

General Wireless Operations Inc., doing business as RadioShack, has completed new financing 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.

West Chester, Pa. – QVC has appointed Sanjay Singh as senior VP to lead its newly formed business planning & analysis (BP&A) group. Singh will be responsible for developing financial insights and driving integrated global business and financial planning across markets and functions.

Los Angeles -- American Apparel on Monday announced it would close some stores as part of a $30 million cost-cutting initiative in its strategic turnaround plan. (American Apparel CEO Paula Schneider discussed the plan with CSA in a recent interview.) The embattled company also made two other revealing disclosures.

Chicago -- Marbles: The Brain Store is in an expansion mode.

The retailer has opened a new store in Washington D.C., at National Harbor, the waterfront shopping and entertainment district on the Potomac River. It is Marbles’ second location in the Washington, D.C., area and its third to open this summer, with new stores debuting in Times Square in New York City and Myrtle Beach, South Carolina, marking its first location in the southern region.

Lowe's says it is making an investment in its long-term financial strategy with its latest move on its finance team.

Charlotte, N.C. – Family-owned Belk Inc., which hired Goldman Sachs in April to explore “strategic alternatives,” may have landed on a high-end shopping list. According to Reuters, New York-based equity firm Sycamore Partners may be considering bidding $3 billion to $3.5 billion for Belk.

Belk operates about 300 stores and averages about $4 billion in annual sales. In the first quarter of fiscal 2015, Belk reported earnings of $21.8 million and sales of $958 million, both of which were year-over-year improvements.