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Finance & Capital Management

  • Target data breach may affect future profits

    Target continues to cope with the fallout of a data breach, which, as expected, hurt the company’s fourth-quarter results.

    The company incurred $61 million in expenses related to the breach during the quarter, but was able to bring the total impact to $17 million after applying a $44 million insurance payment.

    But the retailer added that it is not only unable to estimate future expenses related to the data breach but also warned that those costs may adversely affect operations results in the first quarter and full-year 2014 and future periods.

  • SRS announces new associate

    Dallas — SRS Real Estate Partners has hired Michael Straus as an associate in the Chicago office. Straus will focus on tenant and landlord representation as well as new business development.

    He brings more than 15 years of managerial and sales experience to SRS. Prior to signing on with SRS, he worked for Student Transportation of America where he oversaw all aspects of operations and managed more than 1,100 employees across the Midwest. He managed sales and contract negotiations, lease renewals, development and acquisitions.

     

  • Lowe’s Q4 profit up 6%; 20 new stores planned

    Mooresville, N.C. – Customer interest in core home improvement categories helped lift profits at Lowe’s Companies Inc. during the fourth quarter and fiscal year 2013.

    Lowe’s fourth quarter earnings rose 6% to $306 million from $282 million in the year-ago period. Full year net earnings climbed 17% to $2.29 billion from $1.96 billion.

  • NRF: Tax reform proposal would boost economy

    Washington, D.C. -- The National Retail Federation welcomed a proposal to reform the nation’s tax structure announced Wednesday by House Ways and Means Committee Chairman Dave Camp, R-Mich., saying it would strengthen the economy and jobs.

  • Bed, Bath & Beyond makes executive appointments

    New York -- Bed Bath & Beyond has appointed Eugene A. Castagna, previously CFO and treasurer, to the role of COO. Susan E. Lattmann, formerly VP of finance, will fill the CFO and treasurer spot.
     
    Castagna has been with the company since  1994 and has served as CFO and Treasurer since 2006. Previously, he served as assistant treasurer from 2002 to 2006 and as VP of finance from 2000 to 2006.

  • Changes in Bed Bath & Beyond’s executive leadership team

    Bed Bath & Beyond has promoted Eugene A. Castagna, previously CFO and treasurer, to the role of chief operating officer. Susan E. Lattmann, formerly VP of finance, will fill the CFO and treasurer spot.

  • Macy’s Q4 profit up 11% but sales miss; opening four new stores

    New York – Macy's Inc.'s fourth-quarter profit increased 11%, but the chain’s sales missed forecasts as ongoing winter storms caused a sales slump in January. The company also announced plans for new Macy’s stores in Sarasota, Fla.; Las Vegas; and The Bronx, N.Y., in fiscal 2014. A new Bloomingdale’s will open in Palo Alto, Calif., to replace an older store in the same shopping center.

  • Leadership changes at Albertson's

    AB Acquisition LLC, which operates Albertson’s LLC and New Albertson’s Inc., has appointed Rick Navarro, who had been the company’s CFO since its inception in 2006, as chief administrative officer. Succeeding Navarro as the company’s CFO is former Nash Finch executive Robert Dimond.

    In his new role, Navarro will oversee the IT, legal, business development, human resources and public affairs functions.

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