Finance & Capital Management

Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.

New York -- Cache on Wednesday said it had filed for Chapter 11 bankruptcy protection after running out of capital and time to complete its turnaround. The women’s apparel retailer will continue to operate its business, but intends to continue to reduce its store count and sell and renegotiate some of its leases.

Cache chairman and CEO Jay Margolis said the company filed Chapter 11 with the goal of “securing Cache’s future.”

Target chairman and CEO Brian Cornell has made some bold moves since arriving at Target last fall, but the most significant revelations concerning long term prospects will come in early March when the company hosts its first investor conference of the Cornell era.

Spokane, Wash. -- Ecova, a total energy and sustainability management company, has been selected by Milwaukee-based Roundy’s Supermarkets to provide utility expense and data management solutions, as well as carbon management solutions and Energy Star benchmarking.

Menomonee Falls, Wis. -- Kohl’s Corp. raised its earnings guidance for the recently completed business year, citing strong sales growth in the holiday season.

The retailer reported fourth quarter same-store sales of 3.7% and updated its fiscal 2014 diluted earnings per share guidance to $4.20 – $4.22.

“We are pleased with our fourth quarter sales as we saw our base business improve and our new strategic framework, the Greatness Agenda, take hold," said Kevin Mansell, Kohl's chairman, CEO and president.

Kohl’s Corp. has increased its outlook for the recently completed business year, citing strong sales growth during the holiday season.

The company reported fourth-quarter same store sales growth of 3.7%. The company also updated its fiscal 2014 earnings per share guidance to a range of $4.20 to $4.22 per share. On average, 27 analysts polled by Thomson Reuters expect the company to report earnings of $4.06 per share for fiscal 2014.

New York -- Staples has entered an agreement to acquire Office Depot in a cash and stock deal valued at $6.3 billon that is sure to face a high degree of regulatory scrutiny.

By Will McKitterick, analyst, IBIS World