Finance & Capital Management

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.

Katy, Texas – Academy Sports + Outdoors is hitting a landmark in its store count.

The sporting goods chain will open its 200th store in Tupelo, Mississippi on July 3.

The Tupelo store will be approximately 63,000-sq.-ft. and will bring 100 new jobs to the area. This will be the first location in Tupelo and the fifth store in Mississippi.

Dublin, Calif. -- dd’s Discounts, a division of Ross Stores, Inc., opened a trio of new stores in California on June 27.

A 22,000-sq. ft. anchor store opened in Bell Gardens, California, in the El Tapatio Center, located at Florence Avenue and Jaboneria Road, eight miles southeast of downtown Los Angeles.  

In Perris, California, an 18,000-sq.-ft. store opened in the Perris Towne Center at the intersection of Perris Boulevard and Nuevo Road.

Dublin, Calif. -- Ross Dress for Less will open a new store in Alton, Illinois, on July 18.  

The 24,000-sq.-ft. store is located in Alton Square Mall, 20 miles north of downtown St. Louis.
 

Washington, D.C. -- The National Retail Federation upped its criticism of President Obama’s proposal to extend overtime pay, saying it would turn “professionals into clock-watchers.”

San Jose, Calif. – PayPal Inc. is getting itself “in the money” with a major acquisition as the company prepares for its impending July 17 split from eBay Inc.

PayPal will purchase digital money transfer service Xoom Corp. for $25 per share in cash, or about $890 million.

Family Dollar had a dip in profit in the third quarter as the company reported higher costs ahead of its planned merger with Dollar Tree.

Family Dollar Stores Inc. reported a profit of $79.9 million, or 70 cents a share, for the third quarter ended May 30, down from $81.1 million, or 71 cents a share, a year earlier. Excluding restructuring- and merger-related charges, the company’s profit was 74 cents a share, compared with 85 cents a year earlier. Net sales rose 2.60% to $2.73 billion.

Matthews, N.C. – The pending merger with Dollar Tree Inc. took a toll on Family Dollar’s profits in the third quarter.

Expenses related to the merger drove Family Dollar’s net income down 1.5% to $79.9 million from $81.1 million the year-ago period, below Wall Street expectations.