Finance & Capital Management

Cincinnati – Within the next 24 months, Kroger will build six new stores and expand three locations, along with opening multiple fuel centers and remodeling existing properties in the North Texas area. Kroger has already begun a store refresh program in the region that includes lower prices on thousands of popular food and household items, along with a renewed emphasis on shopping experience, fuel discounts, local products and community relations.

Revlon said fourth quarter sales increased 28%, thanks to the inclusion of sales at The Colomer Group, which it acquired in October.

Net sales for the quarter totaled $491 million, up 28% compared with $383.5 million in the year-ago period. On a foreign currency fluctuations or XFX basis, total net sales rose 31.2%, benefiting from the inclusion of $116.8 million of net sales related to the Professional segment beginning on The Colomer Group acquisition date. Excluding the acquisition, total net sales rose 0.7% on an XFX basis.

New York -- Phoenix-based Sprouts Farmers Markets Inc. is expanding. The natural-foods supermarket chain expects to open 22 to 24 stores in fiscal 2014, including five locations in the Atlanta area.

Sprouts currently operates more than 165 locations in eight states.

Meanwhile, Gap Inc. continues to expand its newest banner, Athleta, with about 30 additional U.S. stores on tap for fiscal year 2014.

In more store expansion news:

Following RadioShack’s surprise announcement that it will close 1,100 stores in an attempt to staunch the flow of red ink, the company has retained Melville, N.Y.-based A&G Realty Partners to manage the disposition.

“In the coming weeks we’ll be working with our landlords to find an efficient and cost-effective means to exit these unprofitable locations, and as such, we’ve engaged A&G Realty to assist us in this process,” said John W. Feray, RadioShack’s CFO, during a March 4 earnings conference call.

Canton, Mass. - Dunkin' Brands Group Inc, the parent company of Dunkin' Donuts and Baskin-Robbins, today announced the extension of Chairman and CEO Nigel Travis's employment contract through December 2018. Travis, 64, whose contract previously ran through December 2016, joined Dunkin' Brands as CEO in December 2008.

Canton, Mass. - Dunkin' Donuts has signed a multi-unit store development agreement with existing franchise group, Sizzling Donuts LLC for 46 new restaurants throughout the greater Sacramento, Calif., metro area and surrounding cities of Stockton, Modesto, Tracy, Manteca, Placerville and Davis, Calif.   

Ongoing efforts to bolster cyber security at Target will take place under the leadership of an interim chief information officer and several other key positions the company is looking to fill with external candidates.

Earlier this week, Target confirmed that EVP and CIO Beth Jacob has resigned her position and in a statement provided to Retailing Today from Target chairman, president and CEO Gregg Steinhafel made it clear the company is intent on elevating its technology capabilities following last December’s data breach.

New York -- Target Corp.’s chief information office, Beth Jacob, is resigning, effective Wednesday, as the retailer continues to deal with the fallout from its widespread data breach. Jacob has been in the position since 2008.
 
In a statement released to the Associated Press, Target's president and CEO Gregg Steinhafel said the chain is overhauling its information security and compliance structure.