Finance & Capital Management

Costa Mesa, Calif. -- Over the last three months, Planet Beauty has opened boutiques in three Southern California cities — Corona del Mar, Del Mar and Huntington Beach — bringing the chains store count to 34.

 

Salt Lake City – Overstock.com reported substantial increases in net revenue and income for the second quarter of this year. Total net revenue for second quarter 2013 and 2012 was $293.2 million and $239.5 million, respectively, a 22% increase. The growth in net revenue was primarily due to a 21% increase in average order size, from $138 in second quarter 2012 to $167 in second quarter 2013.

Net income jumped an impressive 687%, from $470,000 to $3.7 million.

 

Cleveland – The Sherwin-Williams Company reported increases in net sales, diluted income per share and same-store sales during second quarter fiscal 2013. Consolidated net sales increased 5.5% to a record $2.71 billion in the quarter, up from roughly $2.6 billion the previous year. The company credited acquisitions, with some offsetting negative impact from unfavorable currency translation rates, for the net sales boost.

Minneapolis – Supervalu Inc. reported a higher net loss and lower net income during the first quarter of fiscal 2014, compared to the first quarter of the prior fiscal year. Net loss totaled $105 million, up from $18 million year earlier, although one-time after-tax charges of $139 million pushed Supervalu into the red. Net sales were $5.16 billion, a 1.5% drop from $5.24 billion a year earlier.

Pleasanton, Calif. – Safeway reported a substantial decline in net income for the second quarter of fiscal 2013 as well as a drop in sales. Adjusted net income for the quarter was $8.4 million, compared to $122.7 million in the same quarter a year earlier. However, after adjusting for various legal expenses and loss from discontinued operations, net income for the quarter would have been $125.1 million.

Cleveland – The Federal Competition Commission of Mexico has voted not to authorize Sherwin Williams’ November 2012 acquisition of Mexico City-based home improvement retailer and paint producer Consorcio Comex, S.A. de C.V. Sherwin-Williams is reviewing the rationale for the commission's decision and says it expects to respond to the Commission's concerns in the near future.

The Men’s Wearhouse has signed a definitive agreement to acquire JA Holding, the parent company of the Joseph Abboud clothing brand, for approximately $97.5 million.

ATLANTA — Coca-Cola’s has appointed Santander UK plc CEO Ana Botín to the company’s board of directors.

Santander UK plc is one of Britain’s leading personal financial services companies and a subsidiary of the Santander Group, the largest bank in the Eurozone.

SALT LAKE CITY — Overstock.com reported net revenue of $293.2 million for the second quarter ended June 30, a 22% increase from $239.5 million for the same quarter last year. The growth in net revenue was primarily due to a 21% increase in average order size.

LOUISVILLE, Ky. — CafePress, a proprietary print-on-demand services and e-commerce platform provider, has appointed Garett Jackson to the newly created role of CIO. Jackson is based in Louisville and will report to CEO Bob Marino.