Finance & Capital Management

Kearney, Neb. – The Buckle Inc. has made a number of reappointments to its executive staff. Kelli D. Molczyk has been appointed to the position of VP of women’s merchandising, Diane L. Applegate has been appointed to the position of VP of supply chain and merchandising operations, and Thomas B. Heacock has been appointed to the position of VP of finance, treasurer, and corporate controller and has been appointed as a member of the company’s executive committee.   

Melville, New York - A&G Realty Partners, a commercial real estate, advisory and investment group, has been retained by Alco Stores to manage the sale of approximately 200 Alco store locations, as well as the company’s former headquarters. The sale is a result of the retailer’s Chapter 11 bankruptcy filing on October 12, 2014.  

NEW YORK - Overall U.S. retail sales (excluding auto) are expected to grow 3%-4% in 2015 although a variety of challenges will continue to constrain the performance of several retailers and retail segments, according to a new Fitch Ratings report.   A gradual increase in the U.S. employment rate and real wages along with near-term benefits from lower gas prices will support retail sales growth.  

The nation’s leading automotive retailer credited investments in inventory and favorable weather with helping it achieve its 33rd consecutive quarter of double digit earnings growth.

The company said sales for its first quarter ended Nov. 22 increased 8 percent to $2.3 billion while same store sales increased 4.5 percent. Profits for the period increased 9.3 percent to $238.3 million while earnings per share advanced 15.6 percent to $7.27 and were aided by the company’s repurchase of 571,000 shares.

Higher same store sales and its purchase of Saks Inc. last year helped Hudson’s Bay Co. post a smaller quarterly loss in the third quarter.

The company had a $13 million net loss and profits of $116 million, both improvements from the same time last year. Same-store sales rose 1.7% in the third quarter.

The Woodlands, Texas – Conn’s Inc. has named VP and chief accounting officer Mark Haley as interim CFO in the wake of the departure of former CFO Brian Taylor. The company also reported a net loss of $3.06 million in the third quarter of fiscal 2015, compared to net income of $24.38 million a year earlier, missing Wall Street expectations.  

By Luis Salazar and Neha Dagley   Watch out, retailers with stores in Florida. The Florida State Legislature has tightened controls over businesses for data security breaches. Effective July 1, 2014, the new Florida Information Protection Act (FIPA) will impact your business and how you handle data breaches.  In recent years, data breaches have become commonplace, and have undoubtedly affected the chain-store industry.     FIPA: COMPLIANCE AND CONSEQUENCES

New York  - New York, Chicago, Las Vegas, Miami and San Francisco rank at the top of the list, reporting the highest luxury sales in per square foot,  according to JLL’s “The New World of Retail Report.”  But while core metro areas ranked at the top of the list of preferred locations, several emerging retail markets like Dallas, Houston and Orlando possess the attributes for longer term success driven by ongoing population and income growth.