Finance & Capital Management

LITTLE ROCK, Ark. — Strength in ladies accessories and lingerie contributed to a 1% second quarter same store sales increase that helped Dillard’s exceed profit forecasts.

New York -- Jos. A. Bank Clothiers on Tuesday came under criticism from BeaconLight Capital LLC, which owns more than 1% of the men’s apparel chain. In an open letter to the company’s board, the investment manager called for a reorganization of the retailer's board and return of cash to shareholders, preferably through buy-backs.

Washington, D.C. -- Following negative numbers in four of the last five months, import volume at the nation’s major retail container ports is expected to grow 1.7% in August over the same month last year and should continue to see gains through the holiday season and the remainder of 2013, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates. The year is expected to end with a 2.4% increase over 2012.

New York -- Online shopping site Gilt has appointed Tracey Weber as COO, effective Sept. 3.  She will have responsibility for many of Gilt's operations, including Gilt City, international, customer service, and merchandise planning, as well as oversee several new strategic initiatives.
   
Weber joins Gilt from Citibank, where she was the managing director, North America Internet and mobile and global product.

Washington, D.C. -- U.S. retail sales edged up 0.2% in July from June, according to figures from the Department of Commerce. This followed a 0.6% month-over-month boost in sales in June, driven by strong auto sales. The slower sales uptick reflected a drop in purchases of automobiles, along with furniture and electronics.

Bentonville, Ark. -- Wal-Mart’s South African subsidiary Massmart Holdings Ltd reportedly seeks a 67% ownership stake in Kenyan retail chain Naivas Supermarkets Ltd. According to Bloomberg, which on Monday reported Naivas was one of several possible Kenyan chains eyed by Massmart for possible expansion, serious talks with Naivas have occurred.

Boca Raton, Fla. -- Office Depot is making a public offer to its largest shareholder, Starboard Value LLP, to settle a dispute about who should serve on its board of directors. In a press release, Office Depot said that if CEO Selection Committee members Tom Colligan and Marsha Evans are re-elected, the company would immediately invite to its board of directors any of the three Starboard nominees recommended by proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis who are not elected.

Acton, Pa. -- Action Services Group, a national lighting, sign and electrical maintenance company, has signed a service agreement with The Starboard Group to provide exterior sign and lighting maintenance services for its 75 Wendy’s restaurant units.

The two-year maintenance program covers proactive, scheduled quarterly visits to the Wendy’s restaurant units located in Alabama, Florida, New Jersey, Pennsylvania, and Virginia under a fixed monthly fee.  

Tampa, Fla. — Burger 21 has signed its first franchise agreement in Arizona. The deal will bring the first Burger 21 restaurant in the western U.S. to Chandler, Ariz., expanding the brand’s footprint to nine states.

The franchisee plans to open in Chandler next year and then to pursue a second unit in Phoenix. To date, Burger 21 has nine open locations and 17 franchised restaurants in development across the country.

Boise, Idaho — WinCo Foods will open a 90,000-sq.-ft. discount supermarket in Bellingham, Wash., on Thursday.

The new store will initially employ 171. The employee-owned discount food chain operates 88 stores and typically ranks as the low priced leader in the markets where it operates.