Finance & Capital Management

Just in time for spring’s college basketball showdown, Hhgregg is offering a winning deal to customers who shop in-store or online.

The retailer is offering zero down and no-interest financing until January 2018 on qualifying purchases from now until March 28.

Barnes & Noble is trying to generate excitement around its struggling Nook products with a giveaway tied to social media.

The retailer says the #NOOKReadingStyle Sweepstakes is designed to inspire book lovers to share their reading style on their Facebook pages and other social media channels. Through March 31, participants can enter for a chance to win exciting prizes, including a $500 Gilt E-Gift Card, a Samsung Galaxy Tab 4 NOOK and 100 $25 Barnes & Noble Gift Cards by completing the sweepstakes entry form on the NOOK Facebook page.

Pleasanton, Calif. – Safeway Inc. is reportedly selling three shopping center it owns in Hawaii. According to Pacific Business News, Carlsbad, California-based Terramar Retail Centers is paying about $156 million for the centers.

Two of the centers are anchored by a Safeway – the 23-acre Hokulei Village in Lihue on Kauai for $52.25 million, and the 12-acre Lahaina Cannery Shops on Maui for about $60.3 million. Terramar is also paying $43.4 million for the 24.5-acre Target-anchored Puunene Shopping Center on Maui.

Laval, Canada - Alimentation Couche-Tard Inc. is purchasing 21 stores, 151 dealer fuel supply agreements and five development properties through its Circle K Stores Inc. subsidiary from Cinco J Inc. The 21 stores and development properties are located in Texas, while the 151 dealer fuel supply agreements are located in the Texas, Mississippi and Louisiana.

Secaucus, N.J. – The Children’s Place Inc. on Thursday accelerated its store closing plans to 200 stores through 2017 (including 76 stores closed in 2013 and 2014), up from its previous announced target of 125 stores through 2016. The company also issued a weak outlook.

Hoffman Estates, Ill. – Increased selling, general and administrative (SG&A) expenses helped swing Sears Hometown & Outlet Stores Inc. to a net loss in a generally tough fourth quarter of fiscal 2014. Sears Hometown & Outlet reported an preliminary, unaudited net loss of $4.63 million, compared to net income of $3.72 million in the same quarter of the previous fiscal year.

Net sales dropped 7% to $562.34 million from $602.48 million, partially driven by a 7.7% decline in same-store sales.

Washington, D.C. – The long winter chill put a damper on consumer spending and retail sales in February. According to data from the National Retail Federation (NRF), excluding automobiles, gasoline stations and restaurants, retail sales declined 0.2% seasonally-adjusted month-to-month, yet were up 3% on an unadjusted year-over-year basis.

Additional findings from NRF’s monthly retail sales analysis found that:

Building material and garden equipment and supplies dealers:
• -2.3% month-to-month

Consumer electronics retailer Tiger Direct has decided that brick-and-mortar is overrated.

The retailer is closing all but three of its 34 physical stores in the U.S. and internationally in order to focus exclusively on e-commerce.

An IT products and solutions provider, the company has made the strategic decision to accelerate its business-to-business and public sector customer focus, but mostly via its website.