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Finance & Capital Management

  • Hershey board chairman joins MWV as director

    MWV’s board of directors chose James Nevels as a new member, the packaging company announced Thursday.
     
    Nevels, the 62-year-old chairman of the Philadelphia-based investment advisory firm The Swarthmore Group and president of the Hershey Company’s board of directors, will work on MWV’s development and auditing committees. He joins the board as the company works to increase its margin goals and expand its packaging endeavors.
     

  • Finish Line Q1 profit doubles; sales boosted by online and in-store Macy’s shops

    Indianapolis -- The Finish Line’s first-quarter profit more than doubled as the retailer expanded its presence online and in Macy's stores nationwide. Its results topped Wall Street estimates.
     
    The retailer reported a profit of $12.4 million, compared to $5.1 million in the year-ago period. Revenue was up 16% to $406.5 million. Same-store sales increased 5%.
     

  • Planet Fitness leases Paterson, N.J., lease

    Paterson, N.J. — Planet Fitness will open an 18,000-sq.-ft. facility at 100 Hamilton Plaza in Paterson, New Jersey, the facility will occupy the first-floor retail space in the 175,000-sq.-ft. downtown office tower.

    Cushman & Wakefield’s East Rutherford, N.J., office represented the building’s owner, Mountain Development Corp. in the transaction. Ripco Real Estate represented the Planet Fitness franchisee, who operates several other regional locations.

  • Michaels raises $472 million in IPO

    Irving, Texas -- Michaels Cos. has raised $472 million in an initial public offering. The arts-and-crafts retailer priced 27.8 million shares at $17 each, which was at the low end of its predicted range. It plans to use the IPO's proceeds to pay down its debt.

    The chain, which operates stores under its namesake banner and Aaron Brothers, could raise up to $543 million if underwriters use their option to buy additional shares. 

    The stock was expected to start trading Friday on the Nasdaq under the symbol "MIK."

  • Micros, Elavon partner on integrated payment solution

    Columbia, Md. - Micros Systems Inc. and global payments provider Elavon have integrated their respective gateway and security products to deliver encryption and tokenization for the food and beverage industry, facilitating a secure environment throughout the payment transaction cycle. Integration has been provided for the Micros Payment Gateway and Elavon's Fusebox gateway solution.

    Benefits of the integration include streamlined PCI compliance, as well as consolidation of multiple interfaces and certifications for electronic payment processing.

  • RILA notes concern on union contract talks at West Coast ports as deadline looms

    Arlington, Va. – With the deadline to resolve the union contract negotiations at West Coast closing in, the Retail Industry Leaders Association (RILA) on Friday said that undertaking essential measures to avoid work stoppage and preserve reliable channels for retail supply chains should be the top priority.

    RILA issued the following statement, which it attributed to Kelly Kolb, VP government affairs:

  • Annie’s adds former Kimberly-Clark exec to board

    Annie's, a natural and organic food company, has added Robert W. Black, a senior adviser to the Boston Consulting Group and former group president of Kimberly-Clark Corporation, to its board of directors. Black will serve as chairman of the Annie's nominating/corporate governance committee.

  • Michaels growth outlook underwhelms IPO investors

    New store growth, 13.4% operating margins and totally untapped e-commerce potential failed to impress would-be Michaels investors when the company returned to public ownership Friday, June 27.

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