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Finance & Capital Management

  • Ann Inc. forecasts declining sales; assesses supply chain

    New York-- Ann Inc. is forecasting declining sales for the fiscal third and fourth quarter and full year 2014. The company is also launching a comprehensive, end-to-end assessment of its supply  chain to identify opportunities to enhance profitability, with a focus on speed, flexibility, improving product sell-through and reducing the cost of goods sold.  

  • 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.  

  • Whole Foods plans 38-42 new stores as Q4 beats street

    Austin, Texas -- Whole Foods Market reported that its net income rose a better-than-expected 5.8% to $128 million in its fiscal fourth quarter, ended Sept. 28, 2014, from $121 million in the year-ago period.  The company also said it plans to open 38 to 42 stores, including five to six relocations, in fiscal 2015. 
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