Finance & Capital Management

Menomonee Falls, Wis. – Kohl’s “Greatness” Agenda is not named lightly. The enterprise-spanning strategy is designed to make the company America’s most engaging retailer by providing a convenient customer experience across all channels. Considering the ever-growing importance of the mobile channel as an omnichannel engagement tool, it is not surprising that Kohl’s is focusing on its mobile app as a key enabler of greatness.

Burlington, N.J. – Aided by reductions in areas such as interest expense, debt extinguishment and stock option modification, Burlington Stores Inc. more than doubled its net income to $25.69 million in the first quarter of fiscal 2015 from $11.77 million the same period a year earlier. The company plans to open 25 stores during fiscal 2015.

Ankeny, Iowa – Casey’s General Store beat Wall Street expectations for profit and revenue during the fourth quarter of fiscal 2015. Net income roughly doubled to $41.34 million from $20.94 million, fueled by a drop in cost of goods sold.

Total revenue fell 14% to $1.65 billion from $1.92 billion, but still exceed analyst estimates.

During fiscal 2016, Casey’s plans to build or acquire 75 to 113 stores, replace 10 existing locations and complete 100 major remodels.

We are in a golden age of big data and analytics in which technology enables retailers to be more lean, efficient and competitive than ever. There are companies with solutions that address everything from pricing optimization and marketing effectiveness to optimal modular assortments and cybersecurity threats.

Sunderland, Vt. - William R. McLaughlin has been named as the new president of the Orvis Company Inc. He will succeed Raymond G. McCready, who will retire later this year.  

McLaughlin will assume the post July 27. McLaughlin's early career included leadership roles with Pillsbury and PepsiCo. At Pepsi, he managed several of their international businesses and rose to become president of Frito Lay Europe, Middle East & Africa.  From 2000 to 2012, McLaughlin was president & CEO of the specialty retailer Select Comfort Corp.

Wesley Chapel, Fla. -- More than1.2 million shoplifters and dishonest employees were apprehended in 2014 by just 25 large retailers who recovered over $225 million from these thieves, according to the 27th Annual Retail Theft Survey conducted by loss prevention and inventory shrinkage control consulting firm Jack L. Hayes International. The participants were made up 25 large retail companies with 23,250 stores and over $700 billion in retail sales (2014).

Hoffman Estates, Ill. – A reduction in selling, general and administrative expenses helped Sears Holdings Corp. reduce its first quarter net loss even as its sales continued to slide. The results came in as the chain prepares for the launch of its real-estate investment trust this week to raise cash. Sears said it expects the REIT transaction to raise $2.6 billion.

New York -- Rising rents are causing another national chain to exit a high-profile location in Manhattan. Home-furnishings retailer Crate & Barrel will close its flagship on Madison Avenue (at 59th Street) on Aug. 2, after negotiating an early exit from its lease, according to the Wall Street Journal. The store opened in 1995.

The closing will leave the city with just one Crate & Barrel, in the Soho section of downtown Manhattan.