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Finance & Capital Management

  • Walgreens same-store sales rise 5.6%

    Deerfield, Ill. -– Same-store sales at Walgreen Co. grew 5.6% in October. Total sales were $6.8 billion, an increase of 6.9% from $6.36 billion for the same month in fiscal 2014.   Total front-end sales increased 2.7% in October compared with the same month in fiscal 2014, while same-store front-end sales increased 2%.   

  • Facilities Management Trends

     

    Downsized facilities management departments. Projects that reduce maintenance and operating costs. Store refreshes as opposed to costly remodels. Mandy Rennehan of Freshco Retail Maintenance spoke with Chain Store Age about how changes in retail facilities management are impacting retailers.

     

    What trends are you seeing with regard to store retrofits and remodels?

  • Office Depot beats estimates; raises full-year outlook

    Boca Raton, Fla. -- Office Depot on Tuesday reported better-than-expected results for third quarter and raised its outlook for the year.    The retailer posted a profit of $29 million  for the third quarter compared with $133 million in the year-ago quarter. The previous-year quarter included a gain on the sale of the Office Depot de Mexico joint venture.   Sales grew 55% to $4.07 billion, fueled by the addition of OfficeMax.

  • Gap Raises Bar on Digital With New CEO

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  • Target to close 11 locations

    Minneapolis -- Tuesday Corp. announced that it planned to close 11 stores as of Feb. 1, 2015, citing performance issues.  

  • Merger magic evident at Office Depot

    Sales continued to decline at Office Depot in the third quarter, but CEO Roland Smith said excellent execution allowed operating profits to more than double.

    Total company sales on a pro-forma basis to reflect the merger of Office Depot and OfficeMax declined 3% to $4.1 billion during the period ended Sept. 27. The top line decline was steeper at the company’s 1,851 unit North American retail division where sales declined 7% to $1.7 billion due to store closures and a 3% same store sales decline driven by a reduced transaction volume. 

  • Gordon Brothers, BlackRock Kelso launch finance company

    New York City -- BlackRock Kelso Capital Corporation announced that it has completed a transaction with Gordon Brothers Group to launch Gordon Brothers Finance Company.  

  • Alibaba net income drops in Q3

    Hangzhou, China –- Alibaba Group Holding Ltd. reported net income of $494 million in the third quarter of fiscal 2014, down 39% from $803 million in the same quarter the prior year. Items including share-based compensation expense and the amortization of intangible assets helped drive down net income.  
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