Finance & Capital Management

Nashville, Tenn. — Genesco Inc. announced that James S. Gulmi, senior VP and CFO, will retire at the end of its current fiscal year.  He will be succeeded as CFO by Mimi E. Vaughn, the company's current senior VP —strategy and shared services.   Gulmi, who has served as Genesco's CFO since 1986, will continue as senior advisor to the company for at least the  next year.    

Philadelphia — Specialty retailer Five Below named current COO and industry veteran Joel Anderson as president and CEO, effective Feb.1., 2015.  Anderson has also been elected a member of the company's board of directors.  Current CEO and co-founder, Tom Vellios, who will work with Anderson to ensure a smooth transition, will remain active in the company as executive chairman.   

Goodlettsville, Tenn. — Dollar General Corp. and Dollar Tree engaged in a verbal war on Friday as they both seek to acquire Family Dollar.    In a news release, Dollar Tree said Dollar General's bid "may ultimately fail" because the Federal Trade Commission may require it to sell more than the 1,500 stores the retailer has said it is willing to let go of.  

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.

A cruise industry executive is the newest member of the board of directors for Sears Holdings Corp.

"I am very pleased to welcome Kunal S. Kamlani to our board," said Sears Holdings Chairman and CEO Edward S. Lampert. "His broad-based financial services expertise coupled with leading a company with a strong focus on its customers make him a great fit for our board as we continue our transformation to a member-centric company that leverages Shop Your Way and Integrated Retail."

Struggling retailer Francesca's has named specialty retailing veteran Michael W. Barnes as president and CEO.

Greg Brenneman, chairman of the board since 2010, was named lead director.

Barnes had been CEO at Signet since 2011 and led Signet’s $1.46 billion acquisition of Zale Corp. Before that, he spent more than 25 years at the fashion company Gossip Group Inc., becoming president and chief operating officer in 2007.

Menomonee Falls, Wis. — Kohl’s Department Stores had a tough third quarter that included a 20% drop in profits, but the retailer reportedly sees its loyalty program and mobile wallet as important competitive assets. According to the Wall Street Journal, a 300-store pilot program of the new Kohl’s loyalty program garnered 10 million enrollees, and another 10 million shoppers have joined since the program went nationwide in October.  

Pittsburgh — American Eagle Outfitters’ profit fell 63% in the third quarter, to $9.03 million from $24.9 million in the year-ago period. The drop was partially driven by costs related to a restructuring program that includes closing underperforming stores and reducing headquarters headcount.