Finance & Capital Management

Everything from portfolio growth to weather posed a challenge to Conn’s, but it was no match as the company’s business model remained resilient in the fourth quarter.

Conn’s reported net income of $27.73 million in the quarter of fiscal 2014, up 57% from $17.66 million in the same quarter the prior fiscal year.

Tractor Supply Company is opening its 1,300th store March 29. The store, which will be located in Bullhead City, Ariz., is part of the company’s plan to operate a total of 2,100 domestic store locations.

New York -- Wal-Mart Stores spent $439 million during the past two years to investigate the possible payment of foreign bribes, Bloomberg reported, making it ranks as one of the most expensive probes in U.S. history.

Wal-Mart spent $282 million in the fiscal year ended Jan. 31 and $157 million the previous year, and expenses will continue to rise, according to an annual report filed March 21. On Feb. 20, Wal-Mart projected FCPA probe and compliance costs would be $200 million to $240 million for fiscal 2015.

Improved demand for cabinetry propelled Norcraft Companies to a fourth-quarter sales increase of 13%.

The maker of kitchen and bathroom cabinetry in the United States and Canada completed its initial public offering in the fourth quarter, in which sales reached $80.5 million.

Duluth, Minn. -- Ascena Retail Group, parent to the Maurices, DressBarn and Lane Bryant banners, announced the 900th Maurices store opening. The Fresno, Calif., store will officially open later this month, joining 899 other stores in the U.S. and Canada.

Maurices will open 60 new stores by the end of its fiscal year in July 2014. In addition to new store openings, Maurices is remodeling or expanding 80 stores this year.  

The company's long-term goal is to reach over 1,200 stores domestically and 100 stores in Canada.

San Francisco — CBRE has introduced AIG Global Real Estate to Associated Estates Realty Corp. The two companies have formed a 50:50 joint venture partnership to develop a 3.36-acre mixed-use project at 8th and Harrison in San Francisco, Calif. The project will be known as 350 Eighth.

Located in the South of Market or SoMa neighborhood of San Francisco, 350 Eighth will consist of 410 rental apartment homes and 40,000 sq. ft. of office and retail space. Site work has begun and first occupancy is scheduled for fourth quarter 2015.

A recent Federal Reserve report shows that household finances have regained substantial ground since the Great Recession, driven largely by the run-up in home values and surge in stocks. These positive forces have contributed to the highest level of wealth in our history — the net worth of U.S. households and nonprofits reached $80.7 trillion by the end of 2013.

Maurices is marking a major milestone. The retailer, which started small in downtown Duluth, Minn., has opened its 900th store in Fresno, Calif.

And the retailer is not stopping there. Plans are in place to open 60 additional stores for a total of more than 925 stores in 46 states and Canada by July. Maurices is also remodeling or expanding 80 stores this year to keep the chain fresh.

The company's long-term goal is to reach more than 1,200 stores domestically and 100 stores in Canada.