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Finance & Capital Management

  • Belk reaps rewards of omnichannel strategy

    Months after announcing a major upgrade in its e-commerce capabilities, Belk reported that its online sales grew 46% in the third quarter.

    The Charlotte, N.C.-based operator of 300 department stores in 16 states attributed the increase in Internet sales to the company’s “Yes! We Have It” item locator program and store fulfillment of digital sales initiatives.

  • 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.  

  • Simon to build $2.5B in new outlet malls

    Retailers looking to grow their physical store presence have an ally in Simon Property Group, as the retail real estate leader is poised to expand its portfolio of Premium Outlets properties by adding 6.4 million square feet and a total investment of $2.5 billion.

  • Shake-up at Francesca’s; company taps former Signet Jewelers chief as CEO, chairman

    Houston — In its surprise change of leadership, Francesca's Holdings Corp. named Michael W. Barnes as chairman, president and CEO, effective immediately. He joins Fancesca's after serving as CEO of Signet Jewelers since 2011, and leading the company’s $1.46 billion acquisition of Zale Corp. Barnes left the Ohio-based Signet in October, saying he wanted to be closer to his family in Dallas.  

  • Guns no defense against comp decline at Sportsman's Warehouse

    Weakening demand for guns and ammunition contributed to a 6.2 percent decline in same store sales at outdoor retailer Sportsman’s Warehouse Holdings.

    The comp decline was offset by an increase in new stores which allowed the company to grow sales by 4.3 percent to $182.5 million and end the third quarter on Nov. 1 with 55 stores. Profits on an adjusted basis to exclude non-recurring expenses were $8.9 million, or 21 cents a share, compared to $7.1 million, or 17 cents a share.

  • Canada approves Tim Hortons-Burger King merger

    Oakville, Canada — The proposed merger between Tim Hortons Inc. and Burger King Worldwide Inc. has been approved by the Minister of Industry under the Investment Canada Act ("ICA"). The companies have set the deadline for registered shareholders of Tim Hortons or Burger King Worldwide to make an election by Dec. 9, with the assumption the proposed merger will occur Dec. 12.

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