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Finance & Capital Management

  • Finish Line pulls ahead with Q3 income

    Indianapolis – The Finish Line Inc. reported an 11% improvement in net income during the third quarter of fiscal 2014, rising to $2.58 million from $2.32 million. Lower impairment and store closing charges, a slowed pace of growth in cost of sales, and an income tax benefit all helped spur the growth in profit.   Consolidated net sales were $395.8 million, an increase of 9% from $364.45 million. Same-store sales rose 4.5%.

  • Walmex bank division sells for $247 million

    Mexico City, Mexico - Grupo Financiero Inbursa, a banking firm owned by Mexican billionaire Carlos Slim, has reportedly bought the bank division of Wal-Mart de Mexico (Walmex) for $246.94 million, or 1.7 times Walmex’s bank capital.

     

    According to Reuters, Walmex has been focusing on selling its non-core assets, such as its restaurant division, in the past year.

  • Study – Marketing execs have IT purchase power

    Franklin, Tenn. - Vendors are leaving billions on the table because they forget to market to the chief marketing officer (CMO) rather than just the CIO and IT department.  According to a new study from IHL Group, “Hidden Treasure – The CMO’s Budget in Retail,” in 2015, the amount of IT purchased through the CMO’s budget will amount to $7.5 billion in North America.  

  • Mid-America names principals, senior VPs

    Oakbrook Terrace, Illinois - Mid-America Real Estate Corporation recently announced the promotions of two employees to Principals and two employees to Senior VPs.   Joe Girardi is a member of Mid-America’s Shopping Center Investment Sales team, and has been promoted to a Principal of Mid-America Real Estate Corporation. He has been with Mid-America since 2003, and has been directly involved in the completion of over $2 billion of retail investment sale transactions.   

  • Wal-Mart’s Latin American chief to also serve as CEO of Mexican unit

    Mexico City - Wal-Mart de Mexico said that that Enrique Ostale, Walmex chairman and Latin America CEO for Wal-Mart Stores, will also take over as CEO of the Mexican company, effective January 1.  

  • Pier 1 meets Street with Q3 profit decline

    Fort Worth, Texas – Pier 1 Imports Inc. met Wall Street expectations with a 33% year-over-year decline in profits during the third quarter of fiscal 2015. Net income fell to $17.9 million from $26.8 million, with an increase in selling, general and administrative (SG&A) expenses driving the reduction.  

  • EBay will pay at least $35 million in exec severance

    San Jose, Calif. – The New Year is looking very happy for EBay CEO John Donahoe and CFO Bob Swan. In a securities filing, EBay said that Donahoe will get a severance package worth $23 million and Swan will get a severance package worth $12 million when the company spins off its PayPal unit in 2015. Both men said they would leave their positions after the split occurs when EBay first announced the spinoff plan in September.  

  • Millennials more likely to make impulse holiday purchases

    Wilmington, Del. - The urge to impulse shop during the holidays runs strong among Americans, but even stronger among Millennials. According to the Chase Blueprint Holiday Impulse Purchases Survey, 83% of Millennials admit to having made an impulse purchase in the past.   
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