Finance & Capital Management

Supervalu has elected Gerald Storch as chair of its board of directors. The appointment comes after Robert Miller, who has chaired the boar since March 2013, announced his resignation.

Big 5 Sporting Goods announced that their fourth-quarter sales results were affected by a lower demand year-over-year for firearms and ammunition products as well as a highly promotional retail holiday environment.  

The company reported net sales of $248 million, an increase of 1.8% from $243.6 million for the prior-year quarter. Same-store sales decreased 0.5% for the quarter versus the prior year period.

New York -- Sam Martin, president and CEO of the Great Atlantic & Pacific Tea Co., has left the company, Produce News reported.

New York -- Former Barnes & Noble executive Jamie Iannone has been appointed president and CEO of Samsclub.com in a restructuring that integrates Sam’s Club’s online business into the Walmart’s Global eCommerce business unit based in California. Previously, most of the warehouse club’s online business was run separately out of the retailer’s headquarters in Bentonville, Ark.

Irving, Texas -- Revenues for the two-month 2013 holiday period at Zale Corporation dropped 2% to $556 million from $567 million in the same period the prior year. Zale said the decrease in revenues is primarily due to the net decrease of 91 stores compared to last year and a decline in the Canadian exchange rate, partially offset by 2% overall same-store sales growth including e-commerce sales.

Albany, N.Y. -- Total sales for the nine-week holiday 2013 period at Trans World Entertainment Corporation were $115 million compared to $128 million for the same period last year, a decrease of 10.2%. The company operated an average of 5% fewer stores during the nine-week period as compared to last year.

Same-store sales for the nine-week period ended Jan. 4, 2014 decreased 6%.

Houston – Francesca’s Holding Corporation expects sales for the fourth quarter of fiscal 2014 to be between $93 million and $95 million, including a mid-to-low-single-digit decrease in same-store sales. This compares to previous guidance provided on Dec. 5, 2013 of sales between $90 million and $95 million, including a decrease of 8% to 3% in same-store sales.

Neil P. Davis, CEO of Francesca’s cited strong holiday performance for the increase in guidance.

Hoffman Estates, Ill. – Sears Holdings Corp. forecast a fourth-quarter loss and reported declining sales during the crucial holiday period.

Last year, Cedar Realty Trust shook off the last vestiges of its recession. Upon taking the reins of Cedar, new president and CEO Bruce Schanzer set in motion a short-term strategic plan in third quarter 2011. The plan was to sell nearly half of the company’s 140 properties owned in 2011 and streamline its property-type and geographic focus, while reducing leverage over the following two years. While the results for 2013 are being tallied now, performance during the first three quarters suggest a very good year of solid results.