Finance & Capital Management

Late last week, Retailing Today reported the GNC CFO Mike Nuzzo had resigned his position to accept a role at a private equity-funded consumer products company. Today, 4moms, a special-purpose robotics company that makes high tech baby gear, confirmed that it has appointed Nuzzo as chief administrative officer and EVP of business development.

The Securities and Exchange Commission (SEC) has charged four Northern California residents with insider trading in Ross Stores stock options based on nonpublic information about monthly sales results leaked by one of the retailer’s employees.

Crowdsourced grocery delivery provider Instacart is expanding its same day and one-hour service to new markets after receiving $44 million in funding from some big name Silicon Valley investors.

NEW YORK — P.F. Chang's Chain Bistro confirmed Friday that it had been the victim of a data breach in which data was stolen from customers’ credit and debit cards used at its restaurants.

Wayne, N.J. — Toys “R” Us reported a net loss of $196 million in the first quarter of fiscal 2014, up from a $111 million net loss in the year-ago period, amid a decrease in income tax benefit and  rise in expenses that included investments in e-commerce and U.S. store maintenance. But the struggling retailer saw its sales improve.

Columbus, Ohio — Express Inc. confirmed that it has received a letter from Sycamore Partners, which owns approximately 9.9% of Express' outstanding shares, indicating that the private equity firm is interested in acquiring the company. In response, Express adopted a one-year “poison pill” shareholder rights plan that would double its shares of common stock in the event any stockholder acquires 10% or more of the company.

Pittsburgh — Michael M. Nuzzo, executive VP and CFO of GNC Holdings Inc., is resigning in order to accept an executive position at an unspecified private equity-funded consumer products company. Nuzzo will remain with GNC at least through July 18, 2014, which will include preparation of its second quarter 2014 earnings release and 10Q.

City of Commerce, Calif. — 99 Cents Only Stores LLC reported net income of $9.57 million in the first quarter of fiscal 2015, up from $897,000 in the same quarter a year earlier. 

Net sales rose $477.9 million, up 7% from $445.2 million in the first quarter of fiscal 2014. 

Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.

Boston — A joint committee of the Massachusetts state House of Representatives and Senate has filed a bill to gradually raise the state’s minimum wage from its current hourly rate of $8 to $11. The increase would occur in stages until reaching $11 in 2017.