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Finance & Capital Management

  • Calendar helps Stein Mart sales in March

    An early Easter helped Stein Mart post an impressive 7.9% boost in same store sales for the first quarter.

    Stein Mart reported sales of $244.4 million for the nine weeks ending April 4, a 10.6% increase over that period the year before. The sales growth was especially strong in March, according to the release.

    The company reported $155.8 million in sales for the five weeks ending April 4, a 14.2% increase over that time the year before. Same store sales were up 11.2% for March. 

  • Walgreens to close nearly 200 stores in restructuring

  • Potbelly names finance vet as CFO

    Chicago - Potbelly Corp. has named Michael Coyne as its new CFO, effective May 1. Coyne will oversee all financial functions and will also be charged with positively impacting Potbelly's analytical, productivity, and risk assessment capabilities.

  • Pier 1 to close 100 stores over three years

    Fort Worth, Texas – Pier 1 Imports Inc. on Thursday reported a declining profit for its fourth quarter and also announced that it plans to close 100 stores as part of a three-year real estate optimization plan.

    Pier 1 reported net income of $33.1 million in the fourth quarter of fiscal 2015, down 22% from $42.6 million the same quarter a year earlier.  Expenses related to the retirement of the company’s former CFO, as well as increased selling, general and administrative (SG&A) expenses, contributed to the decrease in profit.

  • Costco blames holiday for same store sales drop

    After reporting standout results for the holiday quarter, Costco had a drop in same store sales in March that the retailer blamed on the earlier-than-normal Easter holiday.

  • Weis Markets chairman is stepping down

    Weis Markets Inc. is losing one of its longest serving executives after the company announced that the chairman of the board is stepping down.

    Robert F. Weis will not stand for re-election to its board of directors at the company's annual meeting of shareholders on April 23, the company said.

    "We are deeply indebted to Robert for his 69 years of leadership and tireless dedication to our company," said Harold G. Graber, Jr., a director and secretary of the company.

  • Walgreens to close about 200 stores as part of new $500 million cost-savings plan

    Deerfield, Ill. — Walgreens Boots Alliance on Thursday reported quarterly earnings for the first time since the December 2014 merger of Walgreen Co. and Alliance Boots GmbH. The announcement included the news that the drug store retailer will close about 200 U.S. stores as part of its previously announced three-year, $1 billion cost-reduction plan.

  • Bed, Bath & Beyond misses on Q4 profit, sales; will raise wages

    Union, N.J. – Bed, Bath & Beyond Inc. missed Wall Street expectations with its fourth quarter 2014 profit and sales results. In addition, the company indicated that it may join Walmart and other retailers in raising wages for employees.

    During the fourth quarter, Bed, Bath & Beyond reported net earnings of $321.1 million, down 4% from $333.3 million a year earlier. Higher cost of sales and selling, general and administrative (SG&A) expenses helped drive down earnings.

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