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Finance & Capital Management

  • Babies are ‘biggest winner’ from Kmart effort

    Kmart is taking its long-running affiliation with March of Dimes to a new level this year with the help of America’s fiercest fitness expert.

  • Report: Target close to breach settlement with MasterCard

    Minneapolis – Target Corp. is reportedly nearing a $20 million settlement with MasterCard to cover costs related to the retailer’s 2013 data breach. According to the Wall Street Journal, the settlement would pay for the cost of reissuing payment cards and some fraud that resulted from improper use of consumer data.

    Sources indicate Target and MasterCard have been negotiating for months. TJX paid a similar sum to MasterCard to settle costs from a 2008 data breach.
     

  • A different kind of data breach at JCPenney

    Who hasn’t prematurely hit the send button on an email? However, when it happened to a JCPenney executive who disclosed first quarter same store sales to an analyst, it begs the larger question of why the pair were even having a conversation about sales with two weeks left in the quarter.

  • Dick’s Sporting Goods to open 135 to 150 stores in next three years

    Pittsburgh – As part of a wide-ranging fiscal update, Dick’s Sporting Goods Inc. is updating its fiscal 2017 sales target to $8.7 billion to $9 billion. The retailer also expects to open 135-150 namesake stores during the next three years, up from the 603 stores it operated at the end of 2014, focusing on new and underserved markets.  

  • 99 Cents Only to open nine new stores

    City of Industry, Calif. – 99 Cents Only Stores Inc. plans to open nine new stores in Arizona, California and Texas between April 16 and April 18. On April 16, 99 Cents Only will open new stores in Canoga Park, Glendora and Vallejo, California.

    On April 17, 99 Cents Only will open new stores in Chico and Escondido, California and Houston. On Saturday, April 18, 99 Cents Only will open new stores in Mesa, Arizona and Sylmar and Tustin, California.

  • Joly to chair Best Buy board

    Minneapolis – Best Buy president and CEO Hubert Joly now has something in common with Frank Sinatra — you can call him “Chairman of the Board.” Joly will succeed current chairman Hatim Tyabji, who is retiring from the board effective June 9, 2015, as board chairman.

    Russell P. Fradin, president and CEO of SunGard and a Best Buy Board member since April 2013, will serve as lead independent director. Tyajbi, CEO of mobile data/video company Bytemobile Inc., has served on the Best Buy board since 2008 and as chairman since 2012.

  • J.C. Penney exec accidentally discloses same-store sales growth data

    Plano, Texas – A senior executive at The J.C. Penney Co. Inc. has accidentally disclosed same-store sales growth to date in the first quarter of fiscal 2015. In a filing with the Securities and Exchange Commission, Penney said the executive sent an email to an analyst including the information that same-store sales have increased 6% so far in the quarter, ending in May 2015, with the retailer expecting growth to total 3.5%-4.5% for the full quarter.

  • Heslin Holdings acquires West Central Plaza; redevelopment on tap

    Albuquerque, N.M. -- Heslin Holdings, Inc. announced the acquisition of West Central Plaza Shopping Center, a retail property located in Albuquerque, New Mexico. The firm plans to invest more than $12 million -- for both the acquisition and to redevelop and re-tenant the property -- as part of a value-add investment strategy.
     

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