Finance & Capital Management

Sweetwater, Fla. -- Ikea announced it had completed the installation of South Florida’s largest solar array, which will be plugged-in officially atop the future Miami-Dade Ikea store opening this summer in Sweetwater, Florida. Combined with rooftop arrays in Orlando, Tampa, and Sunrise, this fourth solar project will keep Ikea as the state’s largest non-utility solar owner.

Lumber Liquidators has formalized its compliance and sustainability team headed by Raymond Cotton, who was appointed as chief compliance and sustainability officer in February and reports directly to president and CEO Robert M. Lynch.

Cotton manages the company’s quality assurance, sustainable sourcing, loss prevention, risk management and compliance with legal and regulatory requirements of global trade.  

Dallas -- Tuesday Morning Corporation announced that Susan H. Davidson has joined the company as senior VP marketing. She succeeds Ross Manning in this capacity, who has left and is pursuing other professional opportunities.
 

Undeterred by bad weather and competitive pressures that took a toll on its first quarter performance, Dollar General is pressing ahead with plans for 700 new stores, recently opened its 12th distribution center and believes its full year profit forecast is attainable.

Goodlettsville, Tenn. -- Dollar General Corp.’s first-quarter profit and sales missed Wall Street estimates as the retailer cited an “unfavorable’ winter, increased competition and economic challenges. The company said Tuesday its profit rose to $222.4 million, from $220.1 million year ago. The retailer also reiterated its plans to open 700 stores in fiscal 2014, and remodel, to varying degrees, another 900 existing locations.

Net sales rose to $4.52 billion, from $4.23 billion. Same-store sales rose 1.5% in the quarter.

Hudson's Bay Company more than doubled sales in the first quarter driven primarily by its acquisition of Saks last year.

Retail sales were $1.9 billion, an increase of $971 million from $884 million for the prior year. Consolidated same-store sales increased by 2.8%, with increases of 2.5% at DSG, 2.6% at Saks Fifth Avenue and 15.1% at Off 5th. Digital commerce sales totaled $207 million, reflecting both the inclusion of Hudson's Bay and Lord & Taylor (which together are referred to as “Department Store Group” or DSG) and Saks.

New York -- Global brand agency CBX will help Friendly Express update the design and branding of its 42-store network of community-focused convenience stores in southeast Georgia.

Under the assignment, the firm will update the chain’s logo and redesign the interiors and exteriors of its convenience stores, which range in size from 2,000 sq. ft. to 3,500 sq. ft. Friendly Express stores, which also offer gasoline, are located in several different southeast Georgia communities, including Waycross, Jesup, Folkston, Brunswick, and St. Simons Island.

Undeterred by bad weather and competitive pressures that took a toll on its first quarter performance, Dollar General is pressing ahead with plans for 700 new stores, recently opened its 12th distribution center and believes its full year profit forecast is attainable.