Finance & Capital Management

Houston - Concerned Pantry Shareholders (CPS), a group led by JCP Investment Management LLC and Lone Star Value Management LLC, together a significant shareholder of The Pantry Inc. has sent an open letter to the shareholders of The Pantry. The letter highlights what CPS terms the prolonged underperformance at The Pantry and the critical need for significant change in the company's board of directors.

Jacksonville, Fla. -- Stein Mart plans to open 10 new stores this year as part of the company's largest store expansion since 2007.

The expansions begin with new locations in the Miami, Washington, D.C., and Las Vegas areas set to open this spring. This year's new store openings will bring the company's total nationwide store count to more than 270.

The announcement of this expansion follows the company's fiscal 2013 same-store sales growth of 3.7%.

Revlon has appointed Gianni Pieraccioni as EVP and global president of the Revlon consumer division and Sennen Pamich as EVP and global president of the Revlon professional division. The announcement comes as Chris Elshaw, Revlon’s EVP and COO, makes his exit.

North Bergen, N.J. – Strong results in its e-commerce segment, along with growing same-store sales and income from Super Supplements stores acquired in the fourth quarter, helped boost the performance of Vitamin Shoppe Inc. during the fourth quarter and fiscal year 2013. On a year-over-year basis, fourth quarter net income grew 15.9% to $11.2 million from $9.7 million.

Kellogg has elected Stephanie Burns, Ph.D., retired chairperson and CEO of Dow Corning Corporation, and La June Montgomery Tabron, president and CEO of the W.K. Kellogg Foundation, to the company’s board of directors.

"Stephanie and La June bring a wealth of experience and leadership from both the business and the philanthropic sectors," said chairman Jim Jenness. "We are proud to welcome these forward-thinking innovators to our board."

Atlanta – Home Depot Inc.'s net income in the fourth-quarter edged down 0.8%, hurt by snow and severe cold and one less week in the period than a year ago. But cost costs helped its earnings to top estimates and the chain raised its quarterly dividend by 21%.

The very cold weather should boost sales this spring, the chain’s most important sales period of the year, as people repair homes damaged this winter, Home Depot said.

EveryWare Global’s board of directors has named Sam Solomon as interim CEO. Solomon is succeeding John Sheppard, who left the company this week.

San Jose, Calif. – Billionaire investor Carl Icahn and EBay are engaging in a public war of words that was ignited by an open letter Icahn sent to EBay shareholders on Monday, Feb. 24. In the letter, Icahn accused EBay CEO John Donahoe of ignoring conflicts of interest on its board and called for the company to spin off PayPal.