Finance & Capital Management

Walmart’s same store sales turned positive during the third quarter, ending a two year drought, prompting the company to forecast a U.S. comp increase of as much as 1% during the fourth quarter.

Menomonee Falls, Wis. -- Kohl’s Corp. reported a 20% decline in 3Q profit, missing Wall Street estimates, as the retailer continues to be challenged by drops in store traffic and weak sales.

 

A third quarter same store sales decline of 1% at Dillard’s wasn’t enough to dissuade CEO William Dillard, II, from declaring the company is very well positioned for the holidays.

Total merchandise sales also declined 1% to $1.42 billion while net incomes increased to $55.2 million, or $1.30 a share, compared to $50.9 million, or $1.13 a share. The third quarter earnings per share benefited from a one time gain of $3.8 million, or nine cents a share, related to the sale of a store location.

Los Angeles -- BH Properties has announced the hire of Andrew Van Tuyle as chief acquisition officer. In this role, Van Tuyle will be responsible for the firm’s property and debt acquisitions throughout the Southwest.  

J.C. Penney is in the final phase of its turnaround and the company’s stores are customers’ preferred destination for great style, quality and value, according to company CEO Mike Ullman.

Those comments came after J.C. Penney said its third quarter same store sales were flat and it forecast a fourth quarter comp increase of 2% to 4%. Total sales in the quarter ended Nov. 1 declined slightly to $2.76 billion from $2.78 billion.

Hangzhou, China -- Alibaba Group Holding Ltd. plans to hold its first bond sale of senior unsecured notes. The principal amount, interest rates, maturity dates and other terms of the notes have not been finalized and will be determined at the time of pricing of the offering.    Alibaba plans to use the net proceeds from the offering primarily to refinance its existing credit facilities.   

Walmart’s same store sales turned positive during the third quarter, ending a two year drought, prompting the company to forecast a U.S. comp increase of as much as 1% during the fourth quarter.

Los Angeles -- CBRE Group, Inc. has been appointed by Standard Chartered Bank to provide asset management and lease administration services across the bank’s commercial property portfolio.