Finance & Capital Management

Dallas -- Alliance Data Systems, a global provider of data-driven marketing and loyalty solutions, today announced its Retail Services business has signed a multi-year renewal agreement to continue providing both private label and co-brand credit card services for lifestyle and entertainment retailer HSN.

Chicago -- An overwhelming majority of retail CFOs (96%) expect merger & acquisition (M&A) activity to increase or remain consistent with 2013 levels during 2014. According to the new BDO Retail Compass Survey of CFOs, two-thirds of CFOs anticipate that the majority of deal activity will occur in the U.S., followed distantly by Asia-Pacific (17%) and Europe (8%).

Hampstead, Md. – Goldman-Sachs Group, sole underwriter of a $400 million bridge loan supporting Jos. A. Bank’s tentative acquisition of Eddie Bauer, is reportedly postponing the loan. According to the Wall Street Journal, Goldman Sachs had previously set a Feb. 27, 2014 deadline for investors to commit to purchasing portions of the loan, and has not yet set a new deadline.

New Delhi, India – Narendra Modi, candidate of opposition party Bharatiya Janata Party (BJP) for Indian prime minister, reportedly has made statements in favor of global online retailing and India’s small retailers learning to compete with large retailers. According to Reuters, at a meeting of the Confederation of All India Traders, Modi said small local retailers should improve the quality of their goods to a level closer to that of large global competitors, and also consider entering contracts with large online retailers to create virtual trade.

New York – Billionaire investor Carl Icahn, who released an open letter criticizing the board of EBay for conflicts of interest on Feb. 24, has released a second open letter outlining what he calls six facts about questionable decisions by the current EBay board.

Aventura, Fla. -- Aventura Mall, in the Miami suburb of Aventura, plans a significant expansion that will include a new three-level, 241,000-sq.-ft. retail wing and parking garage. Construction is expected to begin in 2014.

Located between Miami and Fort Lauderdale, Aventura Mall currently measures 2.7 million sq. ft.

Hoffman Estates, Ill. - Sears Holdings Corp. narrowed its loss for the fourth quarter as it lowered expenses and reduced inventory.

Sears said Thursday that it lost $358 million for the period ended Feb. 1, compared with a loss of $489 million a year ago.

Sales plunged 14% to $10.6 billion, from $12.3 billion. Sears’ revenue performance was hurt partly by having one less week in the latest quarter and having fewer Sears and Kmart stores, the company said.

Minneapolis – Best Buy’s “Renew Blue” cost reduction program appears to be succeeding, as the retailer reported profit instead of loss during the fourth quarter and fiscal year 2013. The improvements came even as revenues in both periods declined compared to the same periods a year earlier.

During the fourth quarter, Best Buy reported net earnings of $311 million, a substantial improvement from its $460 million net loss a year earlier and above Wall Street projections.

Best Buy saw revenues slip in the fourth quarter and fiscal 2013, thanks in part to declining retail traffic fueled by a shorter holiday shopping season and severe winter weather. But all was not bad news for the retailer, which was able to profit from its Renew Blue cost reduction program.

During the fourth quarter, Best Buy reported net earnings of $311 million, a notable improvement from its $460 million net loss a year earlier. For the fiscal year, Best Buy reported net earnings of $523 million, compared to a net loss of $233 million the prior fiscal year.