Finance & Capital Management

Fort Myers, Fla. -- Chico's FAS announced that it has appointed Todd E. Vogensen as senior VP, CFO, replacing Pamela Knous, who has left the organization to pursue other interests.

Prior to his appointment as CFO, Vogensen had been the Chico’s senior VP finance. He has served Chico's in numerous roles over the past five years. Previously, Vogensen held multiple positions of increasing scope and responsibility with Michaels Stores.

Payment Alliance International (PAI), a leading retail ATM solutions company, and OnPoint Community Credit Union have entered into an agreement to brand ATMs at all 72 Rite Aid pharmacies in Oregon.

PAI will own and operate the ATMs, which will be outfitted with OnPoint Community Credit Union’s branding. OnPoint members will have surcharge-free access to cash at Oregon Rite Aid pharmacies beginning July.

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%.
 

The Finish Line is off to a strong start in fiscal 2015, according to chairman and CEO Glenn Lyon, who credited the company’s omnichannel efforts for its first-quarter success.

The company reported consolidated net sales of $406.5 million, an increase of 15.8% over the prior year period. Comparable store sales increased 5%.

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.

SCHENECTADY, N.Y. — Price Chopper Supermarkets announced that it has cut about 80 positions, citing a need to improve efficiency within the company amid rising costs, including “skyrocketing” healthcare costs.

David Campisi joined Big Lots a little more than a year ago as president and CEO and with sales and profits gathering momentum the nation’s leading off-price retailer has decided to begin paying a hefty dividend.

The operator of roughly 1,500 stores nationwide said it would begin paying a quarterly dividend of 17 cents a share as part of a more balanced approach to returning cash to shareholders and as a reflection of confidence in the company’s strategy and favorable long-term prospects.

Conshohocken, Pa. -- Ikea is planning to raise the hourly minimum wage for employees in its U.S. stores by an average 17%, beginning January 1, 2015. In a move unprecedented among U.S. retailers, Ikea’s wage hike will vary in that it will be based on the cost of living in each store’s location. According to Ikea, the change will take the average minimum hourly wage in its existing U.S. stores (as of June 2014) to $10.76, a $1.59 or 17% increase, and $3.51 above the current federal minimum wage.