Finance & Capital Management

Mahwah, N.J. -- Ascena Retail Group Inc. on Monday reported fourth-quarter net earnings of $15.7 million, compared with $29.8 million in the year-ago period. Its results missed Wall Street expectations.

Revenues for the quarter were $1.18 billion, compared with $1.20 billion in the prior year. The company attributed the decrease challenging tween market conditions at Justice and inventory-related issues at Lane Bryant. Results were partially offset by positive comp growth at Maurices and Catherines and new store growth at Maurices.

Pleasanton, Calif. – Safeway Inc. is offering to pay cash consent fees to holders of three series of senior notes due in 2017, 2018 and 2019. Note holders who accept the fees would release Safeway of the obligation to repurchase the notes at 1% interest when its expected fourth quarter merger with Albertson’s LLC occurs.

Two acquisitions in two years blended with organic growth have allowed Boot Barn to nearly double in size and lay claim to being America’s largest western and work wear retailer.

Tractor Supply with its more than 1,300 stores and Walmart might dispute that assertion — depending how western and work wear are defined — but there is no denying that Boot Barn is a retailer on the move with backing from growth oriented private equity owners.

Sunrise, Fla. - Pet Supermarket has recently opened its 150th store in Bartow, Florida. The per supply retailer now has more than 100 in Florida, as well as stores in Georgia, Alabama, North Carolina, South Carolina, Tennessee, Texas, Kentucky, California and Nevada, and is continuing to consider real estate opportunities in the states and markets it serves, as well as others.

Alpharetta, Ga. - McAlister's Deli has signed an agreement with existing franchise group Southern Deli Holdings LLC to open 10 additional locations throughout North and South Carolina, Colorado and Wyoming, with three locations slated to open in late 2014. In addition, the franchise group recently acquired seven existing locations in St. Louis.

The new development commitments will result in two new restaurants per year during the next five years.

Memphis, Tenn. -- AutoZone on Monday reported better-than-expected fiscal fourth-quarter net income of $373.7 million from $347.8 million a year earlier. The chain also reported a milestone as its net income for the full year rose 7.7% to $1.1 billion.


The auto parts retailer’s revenue in the fourth quarter rose 3.4% to $3.05 billion in the period, up falling short of Street forecasts of $3.06 billion. Same-store sales rose 2.1%.

Fort Worth, Texas – Beleaguered consumer electronics chain RadioShack Corp. says it is in talks with an unidentified “major vendor” about modifying a commercial agreement in a way that could benefit a financial restructuring. RadioShack announced the ongoing discussions in a Sept. 22 regulatory filing.

The nation’s largest automotive retailer has entered some rarified retailing air after reporting its 33rd consecutive quarter of double digit profit growth during the fourth quarter ended August 30.

The operator of 5,391 stores in the U.S., Mexico and Brazil said its fourth quarter profit increased 7.4% to $373.7 million while earnings per share increased 15.6% to $11.28, compared to prior year profits of $371.2 million, or $9.76 a share.