Finance & Capital Management

MarineMax Q4 net income slightly falls
Clearwater, Fla. - Net income at MarineMax Inc. fell 2% to $5.2 million in the fourth quarter of fiscal 2014 from $5.2 million in the fourth quarter of the previous fiscal year. Damages received in connection to the 2010 Deepwater oil spill during the fourth quarter of 2013 helped produce a year-over-year decline in MarineMax’s net income. Revenue grew 10% to $164.1 million from $149.7 million. Same-store sales increased approximately 10%.
Foot Locker CEO Ken Hicks to retire; COO to assume role
New York -- Foot Locker Inc. announced that, as part of a planned succession process, Ken Hicks, 61, intends to retire as president and CEO of the company on Dec. 1, 2014. Hicks, a highly-regarded retail veteran who has been wooed by other retailers for the top spot, will be succeeded as president and CEO by COO Richard (Dick) A. Johnson, 56, who has been with Foot Locker for almost two decades.

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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Best Buy taps Domino’s CEO for board

J. Patrick Doyle, president and CEO of Domino’s Pizza, has been appointed to the board of directors of Best Buy.

Doyle has joined Domino’s in 1997, serving in a variety of leadership roles across its domestic and international businesses. He has been president and CEO of Domino’s since March 2010.
Target to close 11 locations

Minneapolis -- Tuesday Corp. announced that it planned to close 11 stores as of Feb. 1, 2015, citing performance issues.
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.
CBRE arranges Plano retail center sale

Dallas -- CBRE Capital Markets’ Retail Investment Properties team announced the sale of Towne Square Shopping Center in Plano, Texas. Dallas-based Norman J. Hoppenstein purchased the retail center from an undisclosed seller.
Sally Beauty shuffles board membership

Denton, Texas -- Martha J. Miller is retiring from the board of directors of Sally Beauty Holdings Inc., effective Nov. 3, 2014. Miller has served on the board since SBH became an independent public company in 2006.