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Finance & Capital Management

  • Holiday sales jump 5.2% at Belk

    Strong e-commerce growth and omnichannel contributed to a healthy holiday shopping sales season at Belk.

    The nation’s largest family owned and operated fashion department store company reported a 5.2% increase in sales for the nine-week period ending Jan. 3. Same store sales for the same period increased by 4.8%.

  • E-commerce spending to top $300 billion in 2015

    New York -- E-commerce in the United States in 2015 will top the $300 billion mark for the first-time ever, according to Forrester Research’s principal analyst Sucharita Mulpuru.

    “This is big news,” Mulpuru said during a presentation at the National Retail Federation’s annual “Big Show” conference.  

  • Body Central going out of business, to close all remaining stores

    New York -- Embattled apparel retailer Body Central has gone out of business and closed its entire remaining store base, effective Sunday evening, according to attorney for the company Gardner Davis.

    Based in Jacksonville, Florida, the 265-store Body Central Corp. had said earlier this week that it was "experiencing significant liquidity challenges" and was working with advisers to evaluate its options. With the closure announcement, about 2,500 employees lost their jobs.

  • Family Dollar reaches out to investors as buyout vote looms

    Matthews, N.C. -- Family Dollar is urging its shareholders to support a buyout offer from rival discounter Dollar Tree with less than two weeks remaining before a vote on the pending deal.  Family Dollar shareholders are scheduled to vote Jan. 22. on whether to accept the Dollar Tree offer.

  • Businesses SCORE big with Sam’s Club grant

    Sam’s Club is taking its efforts to help and recognize small businesses to a new level with a $700,000 grant to SCORE.

    The American Small Business Championship through SCORE will award 102 small businesses, two in every state and the District of Columbia, for their sacrifice and dedication to the success of their business. The Small Business Champions will receive a $1,000 Sam's Club gift card, an all-expense-paid trip to a training event, SCORE mentoring for one year, and promotion throughout the year to showcase each Champion's story.

  • Tiffany’s holiday sales disappoint; cuts full-year outlook

    New York -- Tiffany's holiday sales dipped 1% and the luxury jewelry retailer cut its full-year profit outlook. CEO Michael Kowalski said that sales in the Americas fell slightly during November and December, while sales in Japan remained soft. Sales in the Asia-Pacific region and in Europe climbed.

  • Body Central closes all stores, fires all employees

    Apparently closing all of your stores and firing all of your employees is among the actions a retailer can take when it is “exploring strategic alternatives.”

    Body Central Inc., which announced early this month that it was $18 million in debt and exploring strategic alternatives, has shuttered all 265 of its stores and fired 2,500 employees.

  • Lew Frankfort joins Sycamore Partners as executive in residence

    New York -- Former Coach Inc. chief Lew Frankfort has joined Sycamore Partners as an Executive in Residence, which will allow the private equity firm to tap into Frankfort’s retail knowledge, managerial expertise and network of industry relationships. Sycamore’s portfolio of retail investments includes Aeropostale, Coldwater Creek, Hot Topic, Jones New York, Nine West Holdings, Stuart Weitzman and Talbots.

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