Finance & Capital Management

San Jose, Calif. – The long-anticipated separation of eBay Inc. and PayPal Inc. into two independent, publicly traded companies is almost here. Now that the split has received official approval from the eBay board of directors, it is expected to occur July 17.

In December 2014, Ecova released the findings of its 2015 Energy and Sustainability Predictions survey to better understand what’s on the minds of those involved in energy and sustainability management.

York, Pa. - The Bon-Ton Stores Inc. is selling six stores for $84 million to CPA: 17 – Global, a non-traded real estate investment trust (REIT) of global net lease REIT W.P. Carey Inc. Bon-Ton will lease the stores back.

Proceeds from the transaction will be used to pay one of two of the company’s mortgage loans due in April 2016. Each loan has about $105 million in principal and consists of 12 properties. Bon-Ton is actively pursuing refinancing options for the second loan.

Montreal - Birks Group Inc., which operates 47 luxury jewelry stores in Canada, Florida and Georgia, reported a growing net loss in first quarter 2015 despite improvements in net and same-store sales. Net loss totaled $8.63 million, up from $5.8 million the same period a year earlier.

Although net sales rose 7% to $301.64 million from $281.16 million, increases in cost of sales, selling, general and administrative (SG&A) expenses, restructuring, debt extinguishment and asset impairment helped expand net loss. Same-store sales increased 16%.

The Bon-Ton Stores is looking to help pay off a $105 million mortgage on 12 properties with a new deal.

The retailer announced it will sell six properties to CPA:17-Global, a real estate investment trust of W.P. Carey, and lease them back. The deal will generate $84 million for Bon-Ton.

Indianapolis – The Finish Line Inc. finished ahead of Wall Street expectations for profit and revenue in the first quarter of fiscal 2016. Net income rose 29% to $13.73 million from $10.65 million in the prior year period.

A higher gross profit, as well as significantly lower impairment and store closing charges, drove the increase in net income. Net sales grew 9% to $443.39 million from $406.53 million. Same-store sales at the Finish Line banner increased 5.5%.

Cincinnati – The Kroger Co. is responding to explosive financial performance with a two-for-one stock split, dividend increase and share buyback program. Kroger has delivered double-digit compound growth in its dividend since it was reinstated in 2006, and expects further growth.

The CEO of the Finish Line Inc. says the company is poised for consistent growth and increased profitability after posting an increase in same store sales in the first quarter.

The Finish Line Inc. said profit rose 11% in the first quarter ended May 30. Same store sales rose 5.5%.