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Finance & Capital Management

  • Deb Shops files Chapter 11, citing “old, tired stores”

    New York - Deb Stores Holding LLC, owner of Deb Shops, has filed for Chapter 11 bankruptcy protection in Delaware, with plans to close  stores and sell inventory if it can’t find a buyer for the business.   

  • Avison Young completes $15 million sale of Brannon Crossing

    Atlanta - Avison Young has completed the $15 million sale of Brannon Crossing, an upscale shopping center with 60,780 sq. ft. of leasable space located at 405-435 Peachtree Parkway in Cumming, Georgia, just outside of Atlanta.    The transaction comes on the heels of the firm’s recent disposition of the 27,057-sq.-ft. Lindbergh Crossing Shopping Center in Atlanta for $7.06 million.   

  • Express Q3 net income falls, still tops Street

    Columbus, Ohio – Express Inc. topped Wall Street expectations with net income of $14.6 million during the third quarter of fiscal 2014, a 24% decline from $19.3 million the same quarter the previous year. Increased buying and occupancy costs contributed to the decline in profits.   Net sales decreased 1% to $497.6 million from $503.8 million. Same-store sales, including e-commerce sales, decreased 5%. E-commerce sales rose 11% to $79.1 million.  

  • Kroger extends comp streak with 5.6% gain

    Momentum continues to build at Kroger where the company elevated expectations for its fourth quarter performance after a better than expected showing in the third quarter.

  • PacSun beats Street; 11th quarter of same-store sales increases

    Anaheim, Calif. – Pacific Sunwear of California Inc. reported a $469,000 net loss in the third quarter of fiscal 2014, compared to net earnings of $17.7 million the same period the prior year. The loss, which included a charge stemming from a $60 million term loan with Golden Gate Capital, was smaller than expected by Wall Street and driven by one-time charges.   Net sales were $212.3 million, up 4.4% from $202.8 million.    Same-store sales rose 4%.   

  • New York & Co. plans cost cuts after tough Q3

    An increase in selling, general & administrative (SG&A) expenses helped increase net loss at New York & Company Inc. to $9.7 million in the third quarter of fiscal 2014, up from $3.4 million a year earlier.

    Net sales declined 3% to $210.6 million from $217.3 million, and same-store sales dropped 3.4%. New York & Co. cited soft performance in its wear-to-work category and the impact of product delays resulting from West Coast port labor issues as negatively impacting sales.

  • Hudson’s Bay launches credit card agreement with Capital One

    Toronto, Canada – Hudson’s Bay Company is launching a new credit card program with Capital One Financial Corp. that includes the Saks Fifth Avenue banner. The agreement is also planned to add the Lord & Taylor credit card program in June 2015, subject to certain closing conditions.  

  • Dollar General reveals ’15 growth strategy as Q4 comps to grow 5%

    Even if Dollar General is unsuccessful in acquiring Family Dollar, the company plans to get bigger faster in 2015 by opening two stores every day and enhancing the productivity of an already expansive footprint.

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