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Finance & Capital Management

  • Report: Target to pay $10M in data breach class action

    Target Corp. has agreed to pay $10 million in a proposed settlement of a class-action suit related to the company’s 2013 data breach, according to court documents filed Wednesday.

  • Michaels profit up 18%, but issues soft outlook for 2015

    Irving, Texas -- The Michaels Cos. reported Thursday its net income rose 18% to $157 million in the fourth quarter, up from $133 million in the year-earlier period. But the retailer gave a soft outlook for the year, citing, among other things, unfavorable Canadian exchange rates and the impact of the West Coast port slowdown.
     
    Sales for the fourth quarter increased 3.4% to $1.61 billion. Same-store sales increased by 1.4%

  • Study: App security remains risky

    Armonk, N.Y. – Mobile app use continues growing rapidly, but businesses are not keeping pace with security. According to new research from IBM and Ponemon Institute, nearly 40% of more than 400 large companies studied, including many in the Fortune 500, aren’t taking the right precautions to secure the mobile apps they build for customers.

  • Report: Toys 'R' Us shutting down in Times Square

    Time may be running out for Toys "R" Us shoppers to ride the Ferris wheel at the retailer's flagship store in Time Square.

    Toys "R" Us will not be renewing the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January.

  • Vertical construction set to begin on Celebration Point, in Gainesville, Fla.

    Gainesville, Fla. -- The developer of Celebration Pointe, a 225-acre mixed-used regional development located in Gainesville, Florida announced that its work on the public infrastructure improvement phase of the $200 million project is on schedule. Celebration Pointe partner Ralph Conti made the announcement.

  • Dollar General promotes Rhonda Taylor to exec VP

    Goodlettsville, Tenn. -- Dollar General Corporation announced that Rhonda M. Taylor, currently senior VP and general counsel, has been promoted to executive VP and general counsel.

    “Rhonda is a valuable member of our executive leadership team and is a trusted advisor on legal and business issues impacting Dollar General. In addition, she provides outstanding leadership and I look forward to her continued success at Dollar General,” said Rick Dreiling, chairman and CEO.

  • Report: Toys ‘R’ Us Times Square flagship to close when lease expires

    New York -- Toys "R" Us is not going to renew the lease of its Manhattan flagship, according to various reports. The lease for the massive 110,000-sq.-ft. retail space, at 1514 -1530 Broadway, between 44th and 45th Streets, is set to expire at the end of January 2016. The ground floor of the prime space, in the heart of busy Times Square and with access to Broadway, commands a whopping $2,500 per foot per year in rent, with the second and third floors costing considerably less, according to CNN Money.

  • Walmart to address shareholders on June 5

    Amid a fast-changing industry in which retailers seek to harmonize their online and physical stores, the largest retailer in the world has announced the date of its annual shareholders meeting.

    Wal-Mart Stores announced the meeting will be held on June 5 at 7 a.m. CDT in the Bud Walton Arena at the University of Arkansas in Fayetteville, Ark.

    The meeting will be webcast on the company’s website at http://stock.walmart.com. The company also announced that April 10 is the record date for that meeting.

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