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Finance & Capital Management

  • Discontinued operations boost Bebe Q1 net loss

    Brisbane, Calif. –- Net loss at Bebe Stores Inc. increased to $10.8 million in the first quarter of fiscal 2015, up from $7.9 million the same period the prior fiscal year. Loss from discontinued operations boosted total net loss.   Net sales from continuing operations were $102.2 million, a decrease of 6.5% from $109.3 million, primarily as a result of store closures. Same-store sales grew 0.7%, the first quarterly same-store sales increased reported by Bebe since fiscal 2012.

  • Fastenal CEO to resign

    New York -- The CEO of Fastenal, Willard Oberton,  will resign from the 2,700 store chain, effective Dec. 31. Oberton, 56, will remain chairman of the company and continue to be actively involved in strategic planning and performance measurements.    

  • Simon breaks ground on Tucson Premium Outlets

    Marana, Ariz. -- Simon broke ground Thursday on Tucson Premium Outlets in Marana, Arizona. The multi-million dollar project will feature more than 90 retailers, and is slated to open fall 2015.  

  • Bacchi named chief information officer at Choice Logistics

    Robert Bacchi, Choice Logistics’ SVP of information systems has been named the company’s EVP and chief information officer. Bacchi will continue to report to Michael Katz, CEO of Choice.

  • Target names GM exec as chief risk and compliance officer

    Minneapolis -- Target Corp. has named Jacqueline Hourigan Rice as senior VP, chief risk and compliance officer. Rice is a 17-year veteran of General Motors, where she most recently served as chief compliance officer.  

  • Delhaize bails on Bottom Dollar

    ALDI is accelerating its growth and dramatically increasing its presence in the Northeast with the acquisition of 66 Bottom Dollar Food stores from Delhaize Group.

    Delhaize said it reached an agreement to sell its 66 Bottom Dollar stores in the greater Philadelphia and Pittsburgh markets for $15 million and associated lease liabilities. Delhaize said it would take an asset impairment charge of $180 million in conjunction with the sale.

  • BDO USA: Retailers bullish on holiday, cautious on inventory; jobs top concern

    Chicago -- The marketing chiefs of U.S. retailers are optimistic about the upcoming holiday season, forecasting a solid 4.1% increase in overall holiday store sales, according to a recent BDO USA survey. The projection is in line with the National Retail Federation’s 4.1% expected holiday sales increase, and is a full percentage point higher than actual retail sales gains in the 2013 season.

  • Walgreens files for bond offering to finance Alliance Boots purchase

    New York –- Walgreens has reportedly filed for an eight-part benchmark bond offering to help finance its planned $5.3 billion purchase of U.K. drugstore retailer Alliance Boots GmBH. According to Bloomberg, Walgreens has filed with the SEC for three-, five-, seven-, 10-, 20- and 30-year fixed-rate bonds, as well as 18-month and three-year floating-rate notes.  
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