Finance & Capital Management

Covington, La. -- Stirling Properties has added two people to its growing Asset Management division. Charles Barclay joined Stirling Properties as Assistant Asset Manager on a variety of retail and office properties in the Greater New Orleans area.

Barclay’s office is in the company’s corporate headquarters in Covington. Before moving to New Orleans, he worked for CW Capital Asset Management in Bethesda, Maryland.

Alexandria, Va. - A majority of Americans say they are optimistic about the economy and low gas prices are driving the optimism. Overall, survey results released by the National Association of Convenience Stores (NACS) shows that 52% of Americans are optimistic about the economy, an eight-point jump from March.

Despite lower gas prices and an increase in the average age of U.S. cars on the road, Pep Boys posted a wider loss in the fourth quarter.

The auto parts chain had a loss of $26.7 million, or 50 cents a share, vs. a loss of $3.33 million, or 6 cents a share, a year earlier. The latest results included a net charge of $12.4 million for write-downs and severance expenses.

Best Buy President and Chief Executive Officer Hubert Joly has added the title of Chairman to his responsibilities at the retailer after long time board member Hatim Tyabji and several others decided to step down.

Secaucus, N.J. - The Children's Place Inc. has rejected three board of directors nominees from shareholders Barington Capital Group L.P. and Macellum Advisors GP LLC. The two investment firms, which collectively own less than 2% of the company’s shares, sent a letter expressing concern about The Children’s Place financial performance and recommending new nominees in March 2015.

Specialty retailer the Children’s Place has rejected an alternate slate of directors proposed by a firm agitating for change after it acquired roughly 2% of the retailer’s outstanding shares.

Hoffman Estates, Ill. – In its latest move to capitalize on the value of its real estate and raise more cash, Sears Holdings Corp. has formed a joint venture with Simon Property Group whereby Simon will take ownership of 10 Sears stores in Simon malls and lease them back to Sears, who will continue operating Sears stores in the venture. The stores include properties Sears has leased to other entities.

Lowe's outlined its progress in meeting its sustainability objectives in its 2014 Social Responsibility Report.