Finance & Capital Management

Another mall-based retailer has announced that it is in default and struggling for survival.

Body Central Corp. announced that it is in default on $18 million in debt and is exploring strategic alternatives, the Jacksonville, Florida-based company said in a statement.

The company also said it is experiencing “significant liquidity problems,” and is exploring options, including a possible bankruptcy filing.

New York -- The specialty apparel and home goods chain C. Wonder is shuttering its remaining stores, according to Buzzfeed. The company, founded in 2011 by Christopher Burch, ex-husband of Tory Burch, quietly closed a number of its 32 stores in November. It is now closing its remaining locations, 11 in total, the report said.

A 3.7% same store sales increase during the holidays has JCPenney feeling good about the continued growth of its business.

The retailer said same store sales during the nine week period from November through December increase 3.7%. That figure was on top of a 3.1% gain during the same period the prior year and was toward the high end of the company’s guidance range which envisioned comp growth of two percent to four percent.

While retailers are sorting how to capitalize on wearable technology, Intel is betting that that smart glass manufacturer Vuzix will play a role.

Vuzix began selling its flagship M100 Smart Glasses on Amazon prior to the holiday and more recently Intel invested $24.8 million in the company. The investment gives Intel 48,626 shares of Vuzix’ preferred stock and the opportunity to convert those shares into common stock that would give Intel a 30 percent ownership stake in the company.

E-commerce sales at HHgregg surged during what was an otherwise unhappy holiday season that saw sales fall 6 percent and the company's share price tumble after it withdrew a 2015 profit forecast.

For the third quarter, the company estimated net sales of $666 million, a decrease of approximately 6% as compared to the prior year quarter. Same store sales for the third quarter decreased approximately 6%, with the appliance category relatively flat. However, the company estimated that its e-commerce sales were up approximately 59% for the third quarter.

New York – Brooks Brothers Group Inc. has selected the Asset Based Lending (ABL) Group of TD Bank as the joint lead arranger in a $250 million credit facility. The amount of TD’s commitment and terms of the financing were not disclosed.

Plano, Texas  -- J.C. Penney is reflecting in a post-holiday glow and feeling bullish about its business going forward after reporting a 3.7% increase in same-store sales during the holidays (the nine week period from November through December). The retailer also said that it expects its fourth-quarter comparable sales will be at the top end of its forecast range of a 2% to 4% gain.

Leonard Lieberman, former chairman and CEO of Supermarkets General, which owns Pathmark, died at his home in Hoboken, N.J., on Jan. 2, according to an obituary on NJ.com. He was 85.

According to the obituary, his wife, Arlene, said the cause of death was heart failure.