Skip to main content

Finance & Capital Management

  • Report - Starboard Value increases stake in Staples

    New York – Activist investor fund Starboard Value has reportedly purchased a 6% stake in Staples Inc. and upped its ownership of Office Depot from 8.6% to 10%. According to the Wall Street Journal, Starboard Value may be positioning itself to pressure the two office supply retailers to merge.  

  • 99 Cents Only Stores reaching for new heights

    Despite the rollout of its new “Go Taller” initiative, 99 Cents Only Stores reported a decline in same store sales and profits in the third quarter.

    Same store sales decreased 0.7% compared with the prior year quarter. The company reported a loss of $3.8 million in the third quarter, compared to posting an income of $1 million in the prior year quarter. Net loss as a percentage of total sales was -0.8% for the third quarter compared with net income as a percentage of sales of 0.2% for the third quarter of fiscal 2014.

  • Report: Wal-Mart China hid real performance, inflated sales

    New York - Wal-Mart Stores Inc. has reportedly discovered discrepancies in accounting practices its China business was using that made performance look better than it really was. According to Bloomberg, shifty accounting practices included making unauthorized bulk sales to other retailers and even booking non-existent sales. 

  • More losses, more cost-cutting at RadioShack

    RadioShack CEO Joe Magnacca contends the company’s core strategies are working even though evidence of the success was hard to see between a steep third quarter loss and double digit same store sales decline.

    Same store sales were down 13.4% in the third quarter ending Nov. 1, driven by traffic declines and soft performance in the mobility business, the company said. Total sales and operating revenue were $650.2 million, compared with $775.4 million last year.

  • Lands' End sales drop as store base shrinks

    Lands' End sales fell in its October quarter as its store base dwindled, though an improved merchandise assortment and a more-targeted promotional strategy helped drive a 26% increase in profits.

    For the third quarter ended Oct. 31, Lands' End posted a profit of $18 million, or 56 cents a share, up from a profit of $14.3 million, or 45 cents a share, a year earlier. Revenue, meanwhile, fell 2.8% to $373.1 million as same-store sales fell 3.1%.

  • Executive efforts acknowledged by Buckle

    A trio of top executives at The Buckle were elevated to new roles at the 463 store specialty retailer.

    Kelli Molczyk, with the retailer since 1999, was named Vice President of Women’s Merchandising after most recently serving as Divisional Merchandise Manager. Prior to that she held a variety of roles with the company in which she was instrumental in design and marketing efforts.

  • C-suite survey: Healthcare costs, maintaining margins top business concerns in retail

    New York - The cost of healthcare, the ability to maintain margins
 and the ability to continue to grow revenue are the top business challenges in the retail sector. That’s according to GE Capital’s new national survey of c-suite executives at middle-market companies (ranging from $10 million - <$1 billion in sales).  

  • Natural Grocers to open 18 new stores, acquires Nature’s Pantry

    Independence, Mo. – Natural Grocers by Vitamin Cottage, Inc. plans to open 18 new stores in fiscal 2015. As part of the plan, Natural Grocers has closed its previously announced agreement to acquire natural foods retailer Nature’s Pantry Inc. in Independence, Missouri.   The transaction closed on Dec. 7, and Natural Grocers began officially operating as a Natural Grocers store on Dec. 8. 
X
This ad will auto-close in 10 seconds