Finance & Capital Management

Former Walmart CEO Lee Scott and Audit Committee chairman Christopher Williams leave some big shoes to fill when they step down from the retailer’s board in June.

Pleasanton, Calif. – Safeway reported a net loss of $76.5 million in the first quarter of fiscal 2014, compared to net earnings of $118.9 million in the same period a year earlier. The company is working toward closing its $9.4 billion merger with Albertson’s by the fourth quarter of the current fiscal year.

With net revenues soaring 36% in the first quarter to $642 million from $472 million in the prior year's period, Under Armour is off to a strong start in 2014. In conjunction with its financial results, the company also opened its newest specialty retail location in SoHo, in New York.

Sales of animal- and pet-related merchandise and winter seasonal items helped push up sales at Tractor Supply Co. in the first quarter ended March 29.

Net sales increased 9% in the quarter to $1.18 billion, up from $1.09 billion in the same quarter last year. Comparable-store sales increased 2.2%.

Net income for the quarter increased 10.9% to $48.8 million, up from $44 million

Greg Sandfort, president and CEO, said the first-quarter results demonstrated an ability to perform during tough weather conditions.

Even before Meb Keflezighi won the Boston Marathon wearing a pair of Skechers, a brand not normally associated with running, the footwear company was winning big in the marketplace.

Waban, Mass. - The percentage of large organizations that have reached the two highest levels of customer experience maturity has grown from 6% in 2013 to 10% this year. During the same period, the percentage of companies in the lowest level of maturity has dropped from 40% to 31%, according to a new report from Temkin Group, “The State of Customer Experience Management 2014.”

Other findings include:

Long Island City, N.Y. – Calypso St. Barth Inc. has obtained a $17.5 million senior-secured credit facility from Salus Capital Partners LLC. The financing will be used to refinance its current lender, general corporate purposes and continued store growth.

“The Salus team has demonstrated a deep understanding of our business,” remarked David Stiffman, president and CFO of Calypso St. Barth. “The new facility with Salus provides us the ability to capitalize on our business momentum and execute our growth strategies.”

Lost Angeles — CBRE Group has announced that John Ferguson has been promoted to president, southeast region.

Ferguson has led CBRE’s southeast region since January 2011. His elevation to the title of president reflects outstanding performance across a broad range of leadership activities including new business development, business and sales management, market and industry leadership, client relationships and people management, said CBRE in a statement.