Finance & Capital Management

Francesca’s sales results for the fourth quarter were below its revised guidance, thanks in part to extreme weather conditions, which forced the company to fully or partially close 370 boutiques during January.

Improved demand for cabinetry propelled Norcraft Companies to a fourth-quarter sales increase of 13%.

The maker of kitchen and bathroom cabinetry in the United States and Canada completed its initial public offering in the fourth quarter, in which sales reached $80.5 million.

A recent Federal Reserve report shows that household finances have regained substantial ground since the Great Recession, driven largely by the run-up in home values and surge in stocks. These positive forces have contributed to the highest level of wealth in our history — the net worth of U.S. households and nonprofits reached $80.7 trillion by the end of 2013.

Following a disappointing fourth quarter and fiscal year ended Feb. 1, Toys “R” Us hosted investors, industry analysts and the media and outlined its strategy for improving its operational performance and driving profitable growth in the future.

Philadelphia -- Five Below on Tuesday reported better-than-expected results for its fiscal fourth quarter, ended Feb.1. The tween/teen retailer also said it is on track to open 62 stores in 2014

The company posted net profits of $24.8 million, slightly higher than estimates of $24.6 million, up from $19.2 million in the year-ago period.

Sales jumped 22.1% to $212 million, beating analysts' expectations for $207.78 million in sales. Same-store sales increased by 0.3%.

New York -- Kohl’s Corp.’s chief merchandising officer, Donald A. Brennan, resigned his position, effective as of April 1, 2014. Kohl's disclosed Brennan's departure in a filing this week with securities regulators.

Under a separation agreement with the department-store operator, Brennan will receive a one-time severance payment equal to 2.9 times his annual salary plus the average of the three most-recent annual incentive compensation plan payments paid to him, according to a regulatory filing.

Omaha, Neb. -- Gordmans Stores announced that its president and CEO, Jeff Gordman, has given his resignation to the board. The retailer said that Gorman is retiring to spend more time with his family and pursue outside interests.

T. Scott King, the current chairman of Gordmans’ board, will serve as interim CEO while a search is conducted for a permanent successor to Gordman. King will take an unpaid leave of absence from his position as senior managing director at Sun Capital Partners while he serves in the interim position.

Deerfield, Ill. -- Walgreens on Tuesday reported a profit of $754 million for the second quarter, down from $756 million in the year-ago period, amid lower sales of generic drugs. The retailer also said it will close 76 locations in the second half, although it plans to increase its total store count by 55 to 75 by the end of the year.

Sales for the quarter ended Feb. 28 rose 5.1% to $19.6 billion, beating expectations. Prescription sales, which accounted for 62.2% of sales in the quarter, increased 7.0%.

Port Washington, N.Y. — Cedar Realty Trust has completed the acquisition of Quartermaster Plaza in Philadelphia. The 456,000-sq.-ft. grocery-anchored shopping center is 98% occupied and anchored by a BJ’s Wholesale Club.

Cedar acquired the center for $92.3 million, including the assumption of $53.4 million of fixed rate debt. The company expects ultimately to fund deal with proceeds anticipated from asset sales. Pending those sales, Cedar will use it existing credit facility.

Despite expected headwinds from slower generic drug introductions, comparisons with last year's flu season and severe weather, Walgreens saw solid top-line growth in the second quarter ended Feb. 28, driven by record quarterly sales and record second-quarter prescriptions filled.

The company also continued to gain prescription market share while maintaining a firm hold on its costs.

Walgreens posted a sales increase of 5.1% to $19.6 billion for the quarter. First half sales were up 5.5% to $37.9 billion.