Finance & Capital Management

Retail and consumer products industry veterans Vince Burke, Jim Gillis and Rich Juliano have founded the Burke-Gillis-Juliano Group, a global consultancy focused on the supermarket, mass retail, convenience, drug and specialty retail trade channels.

The consultancy will offer executive management, market strategy, mergers and acquisitions, private equity, business development, product marketing, trade relations and related services to leading retailers, suppliers and vendors in the United States and around the world.

New York -- Retailers across the board, from Victoria’s Secret parent L Brands Inc. and American Eagle Outfitters to Family Dollar Stores and Bed, Bath & Beyond, cut their fourth-quarter earnings forecasts on Thursday as heavy promotions and discounts cut into profits. Results were also impacted by multiple snowstorms, a shortened shopping season and cautious consumers.  

Costco’s sales increased by 6% in the month of December and the first few days of January compared with December 2012.

The Issaquah, Wash.-based company reported sales of $11.53 billion during the five weeks that ended Sunday, compared with $10.87 billion during the same period last year. Comps increased by 5% at the company's U.S. stores.

For the 18 weeks that ended Sunday, sales were $38.33 billion, a 6% increase over the $36.26 billion in sales the company had the year before. Comps in the United States increased by 4%.
 

Supervalu reported net earnings of $31 million during the third quarter of fiscal 2014, almost double the net earnings of $16 million reported in the same quarter of the prior fiscal year. This dramatic increase came even as net sales slipped 1% to $4.1 billion from $4.5 billion.

The search is on for a new president and COO at Family Dollar following the resignation of Michael Bloom amid deteriorating financial results and a 3% same store sales decline in December.

Charlotte, N.C. -- Bojangles' Restaurants Inc. has appointed Clifton Rutledge as CEO effective Jan. 24. Rutledge joins Bojangles' from Texas-based hamburger chain Whataburger, succeeding current CEO Randy Kibler, who announced his plans to retire from this role in September 2013 but will remain active as chairman of the company's board of directors. Additionally, Bojangles' has promoted its senior VP of company operations Kenny Avery to COO.

The phrase “massive data breach” is the last thing any retailer wants to see their name associated with, but when bad things happen to good retailers Target's response to the situation is a blueprint for other retailers.

Stamford, Conn. -- Design Within Reach, Inc., a multi-channel retailer of modern furniture, selected NetSuite as its core business management platform to support the company's growth. Design Within Reach plans to begin by leveraging NetSuite to power its core financials/ERP, inventory management, point-of-sale and order management processes.