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Finance & Capital Management

  • Burlington Stores swings to Q1 profit, will open net 25 new stores

    Burlington, N.J. — Burlington Stores Inc. had an all-around strong first quarter of fiscal 2014 that included a better-than-expected net income of %11.77 million, up from a net loss of $5.56 million in year-ago period. The retailer expects to open 25 net new stores during the fiscal year, including the opening of one new store and closing of one existing store in the second quarter.

  • Dunkin’ Donuts details California expansion

    Canton, Mass. — Dunkin’ Donuts has filed for permits to open its first traditional restaurants in California. The new restaurants are planned for Downey, Long Beach, Modesto, Santa Monica and Whittier.

  • Christopher & Banks Q1 income jumps, plans nine new stores

    Minneapolis — Christopher & Banks Corp. more than quadrupled its net income to $2.6 million in the first quarter of fiscal 2014 compared to $0.6 million in the same quarter the prior year. The women’s apparel chain also plans to open six new outlet stores and three new stores in its MPW (Missy, Petite, Women) format during the fiscal year.

  • Rocky Mountain Chocolate Factory obtains PCI compliance

    Durango, Calif. — Rocky Mountain Chocolate Factory (RMCF) is providing PCI compliance and security management services to 280-plus franchised RMCF locations using the Cybera One platform. RMCF sought a comprehensive network security solution to facilitate cost-effective PCI Security Council data security standards (DSS) compliance, as well as a solution that could ease implementation and management challenges and protect brand identity.

  • RadioShack loss widens to $98 million; 200 stores to shutter

    Fort Worth, Texas — RadioShack Corp. reported a widening net loss in the first quarter of its fiscal year 2015. The troubled retailer also confirmed plans to close up to 200 stores by the end of the year, based on location, area demographics, lease life and financial performance.

    The retailer reported a net loss of $98.3 million, up from $28 million in the same quarter the prior fiscal year.

  • Report: Chico’s considers going private

    Fort Myers, Fla. — Chico’s FAS Inc. is reportedly considering taking itself private. According to Financial Times, the women’s apparel retailer has been holding talks with several private equity firms in recent weeks.

  • Abercrombie taps exec from U.K. retailer Next as brand president

    New Albany, Ohio — Abercrombie & Fitch Co. has named Christos Angelides president of its Abercrombie & Fitch and Abercrombie Kids brands, a position he is expected to take in October 2014. Angelides, 51, will report to A&F CEO Mike Jeffries and will have overall responsibility for all product and customer-facing activities for the Abercrombie & Fitch and Abercrombie Kids brands.  

    He will also be accountable for the financial performance of the brands.

  • Francesca’s profit drops 21%, 85 new stores planned

    Houston — Francesca’s Holdings Corp. on Tuesday reported a 21% drop in profit during the first quarter of fiscal 2014, to $8.6 million from $10.9 million.  Harsh winter weather and higher expenses related to its boutique business contributed to the decline in net income. The company also reduced its annual outlook.

    Francesca’s plans to open 85 new stores during fiscal 2014, including 16 in the second quarter.

  • Rent-A-Center names CFO, HR head

    Plano, Texas — Rent-A-Center, Inc. has appointed two new senior executives. The company named Guy J. Constant as executive VP finance, CFO and treasurer, and Jody Diaz as senior VP HR and chief people officer, both effective June 16, 2014.

  • RadioShack touts progress as results deteriorate

    RadioShack is making progress on its turnaround, according to CEO Joe Magnacca, even if it wasn’t readily apparent in first quarter results the company reported on June 10.

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