Finance & Capital Management

Phillips Edison is transforming The Kenwood Collection. The Kenwood Collection is returning the favor.

Phillips Edison & Company has grown by acquiring troubled shopping centers in good locations, redeveloping and improving the tenant mix. Over the years, the company has continued to optimize retail property value with its complete operating platform providing a diverse range of retail solutions. Today, the Phillips Edison portfolio contains more than 260 shopping centers across the country.

Minneapolis - The Tile Shop will expand its presence by 20 stores to 108 locations by the end of 2014, and also remodel 15 to 20 locations.

“Through our store layout and sales associates, who offer project planning, design counsel, tile recommendations and installation guidance, we are able to meaningfully connect with our customers and meet their individual project needs with affordable tile and natural stone products, building a foundation for an ongoing relationship,” said Carl Randazzo, senior VP of retail for The Tile Shop.

Woonsocket, R.I. – Net income at CVS Caremark Corp. increased 18.3% to $1.1 billion in the first quarter of fiscal 2014, compared with approximately $1 billion a year earlier. Pharmacy services and retail pharmacy segments both benefited from the impact of increased generic drugs dispensed and slower growth in expenses.

Lakewood, Colo. – Net income climbed 24.3% at Natural Grocers by Vitamin Cottage Inc. in the second quarter of fiscal 2014, rising to $4 million from $3.21 million in the same quarter the prior fiscal year. For the remainder of the current fiscal year, Natural Grocers plans to open six new stores and remodel one.

Asheville, N.C. – Ingles Markets reported a large increase in net income and smaller increase in net sales during the second quarter of fiscal 2014 as compared to the same period in the previous fiscal year. Net income soared 29.2% to $105 million from $8.1 million, while net sales grew 2.9% to $947.8 million from $920.7 million.

Atlanta – Havertys reported declining year-over-year net income and sales during the first quarter of fiscal 2014, which the retailer attributed to a 0.9% drop in same-store sales and out-of-period gross profit adjustment in the first quarter of fiscal 2013. The company still plans to open three new stores in its largest markets.

Net income dropped 26% to $6.13 million, from $8.26 million. Net sales declined 2% to $181.7 million, from $186.1 million.

New York -- Seattle Mayor Ed Murray on Thursday unveiled a plan to increase the city’s minimum wage to $15. Although Murray said the hike has broad support across local government, business and labor communities, the City Council still has to vote on the proposal.
 
Under Murray’s plan, businesses with fewer than 500 employees would have seven years to comply and larger businesses would have three years. Further increases would be tied to inflation.
   

Sales from new stores as well as a nearly 7% same-store sales increase bolstered Natural Grocers by Vitamin Cottage’s second quarter ended March 31.

Net sales increased 22.4% to $130.3 million over the same period in fiscal year 2013 due to a $16.6 million increase in sales from new stores and a 6.9%, increase in comparable store sales.

Sales at four of Newell Rubbermaid’s five operating divisions declined during the company’s first quarter, but overall profitability suffered as a result of baby products recall and expenses related to a transformation strategy.

Dick’s Sporting Goods opened its Field & Stream prototype store last summer and next month the first of eight stores planned for 2014 arrives on the shores of Lake Erie.

The northwestern Pennsylvania community will be home to Dick’s third Field & Stream store with an opening set for June 13. Dick’s began experimenting with the potential new growth format last August when it opened its first location near its home town of Pittsburgh in the suburb of Cranberry Township. A second location opened later in 2013 in Crescent Springs, Ky.