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Finance & Capital Management

  • L'Oreal USA to buy Carol's Daugher

    L'Oréal USA has announced plans to acquire multi-cultural beauty brand Carol's Daughter.

    Financial terms of the deal were not disclosed.

    Created by Lisa Price in 1993, Carol's Daughter offers a range of products that are available at specialty beauty stores, mass retailers, on HSN, through e-commerce and at Carol's Daughter branded stores in New York City. For the 12 months ended Sept. 30, Carol's Daughter had net sales of $27 million.

  • Restructuring, impairment dampen Rent-A-Center Q3 earnings

    Plano, Texas -- Pretax restructuring charges related to corporate reorganization and store closures, as well as pretax impairment charges, helped reduce net earnings at Rent-A-Center Inc. 7% to $25.3 million in the third quarter of fiscal 2014 from $27.2 million in the third quarter of the prior year. Revenues grew 2% to $769.5 million from $754.8 million, and same-store sales rose 1.9%.

     

  • Retail vet Michael Rayden, CEO of tween-brand Justice, to retire in January

    Mahwah, N.J. -- Michael Rayden, president and CEO of Ascena Retail Group’s tween apparel brands Justice and Brothers, and a member of the Ascena board, is retiring at the end of Jan. 2015. Ascena has tapped Herbert Mines Associates to start a global search for a president and CEO of Justice and Brothers.   

  • Ascena’s “Tweenovator” to retire

    Michael Rayden, an innovative merchant credited with developing retail concepts that catered to the tween demographic, has announced plans to step down as president and CEO of Ascena’s Justice and Brothers division.

    Rayden will leave the company at the end of January 15 following a lengthy career in the apparel industry. Ascena said it has begun a global search for a successor.

  • Great American Group selected as stalking horse bidder for Alco stores

    Los Angeles --Great American Group has been selected as a stalking horse bidder in the potential liquidation of Alco Stores, which operates 198 general merchandise discount stores in 23 states. Great American is a leading provider of asset disposition and auction solutions, advisory and valuation services, capital investment, and real estate advisory services.

  • Coke accelerates efforts to re-invigorate growth

    The world’s leading beverage company is intensify efforts to generate high single digit earnings per share growth after strategies introduced earlier this year have been slow to take hold and third quarter earnings fell 13%.

    Coca-Cola Company CEO Muhtar Kent unveiled a new slate of actions to reinvigorate growth and cut expenses in conjunction with the release of disappointing third quarter results. Revenues were essentially flat with the prior year at $12 billion during the quarter ended Sept. 26 while earnings per share declined 13% to 48 cents from 53 cents.

  • HanesBrands makes tasty board appointment

    Former Snyder’s-Lance CEO David V. Singer is the newest member of the board of directors at apparel manufacturer HanesBrands.

    Singer, 59, joins the 10 member board through the 2015 annual meeting when directors stand for re-election. He will serve on the company’s audit committee.

  • The Finish Line names Sato president

    Indianapolis -- Samuel M. Sato, formerly president, Finish Line brand, has been named as president, The Finish Line Inc. The board of directors also elected him to the board, filling the Class II director position previously held by Bill Kirkendall.  
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