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Finance & Capital Management

  • Tuesday Morning faces discrimination suit from former CEO

    DALLAS — Kathleen Mason, former CEO of Tuesday Morning, has filed a lawsuit against her ex-employer in Dallas District Court claiming discrimination. Mason, who was fired last June, alleges that Tuesday Morning mistreated and then terminated her within months after learning she was suffering from breast cancer.

  • Accenture expands e-commerce capabilities

    NEW YORK & CHICAGO — Global management consulting, technology services and outsourcing company Accenture is acquiring Acquity Group to help it strengthen its e-commerce and digital marketing capabilities. 

  • Deloitte: Stable economic fundamentals keep consumer spending outlook on track

    New York -- The Deloitte Consumer Spending Index (Index) dipped slightly in April, primarily due to an increase in the tax rate, while other economic fundamentals remain steady. The Index tracks consumer cash flow as an indicator of future consumer spending.

  • Kohl’s Q1 profit falls 5% but beats Street

    Menomonee Falls, Wis. -- Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales fell due to unseasonably cold weather in large parts of the United States.

    Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

    Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

  • DDR to acquire select power enters for $1.46 billion

    Beachwood, Ohio -- DDR Corp. announced an agreement to acquire a portfolio of prime power centers from its existing joint venture with Blackstone Real Estate Partners VII.  The acquisition is slated to close in fourth quarter 2013.
     
    The joint venture between Blackstone and DDR currently owns 44 shopping centers, and DDR will acquire Blackstone's 95% common equity ownership interest in 30 of the shopping centers for $1.46 billion.

  • Wal-Mart’s Q1 sales, profit disappoints; issues tepid Q2 outlook

    Bentonville, Ark. -- Wal-Mart Stores on Thursday reported profit and sales that were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

    Wal-Mart’s net income rose 1.1% to $3.8 billion. Revenue edged up 1%, to $113.4 billion.

  • Tardy tax refunds, cool weather affect Walmart’s Q1

    BENTONVILLE, Ark. — Same store sales at Walmart's U.S. stores declined 1.4% in the first quarter, but the retailer forecasts comps should rebound during the second quarter. 

    Sales were just below Wall Street expectations as the giant retailer struggled with a number of issues that impacted its U.S. sales, from the payroll tax increase to an unseasonably cold spring to delayed tax returns. The discounter also scaled back its earnings expectations for the current three-month period.

  • Mother Nature unkind to Kohl’s in Q1

    Kohl's Corp. reported a 5% drop in first-quarter profit on weak sales due to unseasonably cold weather in large parts of the United States.

    Kohl's net income fell to $147 million in the quarter ended May 4, down from $154 million a year earlier.

    Sales fell 1% to $4.2 billion. Comparable-store sales fell 1.9%.

  • Former PetSmart COO new chair of Body Central board

    JACKSONVILLE, Fla. — Body Central Corp., a multichannel, specialty retailer that offers on-trend apparel and accessories at value prices, has appointed Donna R. Ecton as non-executive chairman of the board. Ecton has been a director of Body Central Corp. since May 2011.

  • Walmart completes eight solar arrays in Massachusetts

    Walpole, Mass. -- Walmart announced the completion of eight new solar photovoltaic (PV) arrays in Massachusetts, celebrating with an event at its Walpole store.

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