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Finance & Capital Management

  • Abercrombie CEO Michael Jeffries out

    New York - In an abrupt move, Michael Jefferies, the longtime and often controversial chief of Abercrombie & Fitch, has retired as CEO and stepped down from the company’s board, effective immediately. His retirement caught the industry by surprise, particularly since it comes in the middle of the crucial holiday selling season.    

  • AutoZone motors ahead with inventory investment

    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.

  • Buckle shuffles management roster

    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.   

  • Saks boosts profits at Hudson’s Bay Co. in Q3

    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.

  • A&G Realty Partners to manage bankruptcy sale of Alcoo Stores

    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.  

  • DLC Management announces 2.6-million-sq.-ft. portfolio acquisition

    Tarrytown, New York - DLC Management Corporation announced its latest acquisition of 11 retail assets in New York, North Carolina, Arkansas and Tennessee totaling 2.58 million sq. ft., of which 1.73 million sq. ft. is owned property.   According to DLC, this acquisition is the largest in its history. The The properties include:  
    • 2015 Walden Avenue, 26,500 sq. ft. – Cheektowaga, New York
    • Batavia Commons, 49,431 sq. ft. – Batavia, New York

  • Report: RadioShack denies that it defaulted on loan

    New York - Shack Corp. on Monday denied that it  defaulted on a loan from its term lenders—Salus Capital Partners and Cerberus Capital Management—less than a week after the chain initially disputed the allegations as “wrong and self-serving,” the Wall Street Journal reported.  

  • FirstData: Retail dollar volume up 5.3% Thanksgiving through Cyber Monday

    Year-over-year (YOY) retail dollar volume from Thanksgiving through Cyber Monday grew 5.3%, a decrease from last year’s growth of 7.4%, according to First Data 2014 SpendTrend Holiday Shopping Spend Analysis, which examined consumer spending from more than one million merchant locations over the five-day period.Similarly, retail transaction growth was 5.0% compared to 6.0% in 2013.  
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